Global Wearables Microvendor Market Share: Q1 2023

Global Wearables Microvendor Market Share: Q1 2023

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A huge number of second-tier MICROVENDORS are playing a meaningful role in the global wearables market, flooding the market with new, niche, and segmented offerings. Global wearables shipments declined for the second consecutive quarter in Q1 2023 amid continued economic weakness and geopolitical uncertainty, causing a lengthening replacement cycle and limiting consumer spending. We expect a return to growth during H2 and for full year 2023 as new models from top brands like Apple, Huawei, and Samsung enter the market and the macro environment improves. Smartwatches still lead the wearables space by device type, while growth in feature watches, particularly in India from brands like BoAt, Noise, and Fire-Boltt, stood out during the quarter. Our report tracks total global wearable shipments and market share by hardware vendor by quarter for more than 70 vendors and microvendors. Total wearables, for this report, include smartwatches, fitness bands, smartglasses, untethered virtual reality headsets, feature watches, advanced hearables, jewelry/apparel/shoes, and others. Our report can be used by device makers, component suppliers, operators, software developers, content suppliers and other stakeholders to determine the size of the total global wearables market.

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