Wearables market up 3.1 percent while Apple Watch slips

According to market analysts from IDC, the global market of wearables has grown 3.1 percent YoY as of Q3 2016. Shipments reached 23 million units this past quarter compared to 22.3 million in Q3 2015.

Nearly 85 percent of all wearables sold during the last quarter were fitness bracelets or health trackers. Analysts believe that the growth can be attributed to the low price, simplified operation, and wide variety of models for users to choose from. Nonetheless, IDC is also seeing a trend where increasingly "smarter" functions on otherwise basic fitness trackers can become commonplace. More stylish trackers with a wider variety of design variations will also be a likely possibility for more growth.

Fitbit continues to be the world's largest brand of wearables with a sizable 23 percent of the market space and a YoY growth rate of 11 percent. Globally, the manufacturer shipped 5.3 million units this past quarter compared to 3.8 million from Xiaomi, 1.3 million from Garmin, and 1.1 million from Apple. The Cupertino company dropped a whopping 71 percent in shipments YoY from 3.9 million in Q3 2015 to just 1.1 million in Q3 2016.

Samsung doubled its wearable production from 0.5 million in Q3 2015 to 1 million this past quarter. Its market share was boosted from 2.4 percent to 4.5 percent during the same period for a fifth place standing in the charts. According to IDC, Samsung wearables have been successful due to the many bundles and combination deals with Samsung smartphones.

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