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Major players

Fitbit, a company that had long been the leader in the wearables industry in terms of unit shipments, lost its top position to Apple back in 2017 and was acquired by Google in 2021. Apple has been the industry leader in the wearables segment ever since, with almost nine billion euros in revenue coming from the wearable segment in early 2022. The industry is also awaiting new wearable device releases from Samsung in the coming years, with the company being one of the largest owners of  wearables patents . One of the other most notable players targeting budget-conscious consumers in the smartwatch market is  Xiaomi .

Outlook

Apple is undoubtedly the brightest star in the soaring smartwatch industry, positioned as the  leading smartwatch vendor  with more than 50 percent share of the market. Although Google entered the smartwatch market late with a product of its own, it has still managed to establish itself as a significant player within the industry thanks to the success of the  Android  mobile operating system and Wear OS. With the acquisition of Fitbit and future Samsung watches carrying Wear OS, Google will acquire a greater share of the  market based on the smartwatch platform .

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