Summary
This IDC study examines the market share of the major vendors in the worldwide wearables market in 2022."Following years of steady growth and a period of hypergrowth during the COVID-19 pandemic, the worldwide wearables market has retreated," said Ramon T. Llamas, research director for IDC's Wearables team. "The good news is this has allowed companies to reach more customers with all varieties of devices. But the downside is that once that tranche of demand has been fulfilled, it could not be sustained. Combine that with replacement rates that can last as long as three years and the ongoing threat of an economic recession, the market suddenly finds itself in a waiting period for demand to return. This leaves companies up and down the wearables market scrambling to find pockets of demand in the interim."
