Global Fitness Band Vendor Market Share by Region : Q2 2023
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Global Fitness Band shipment declines re-accelerated in Q2 2022, tumbling by over 40% once again during the quarter. This comes after volumes dropped just 12% in Q1 2023, after collapsing by roughly 40% for the four prior consecutive quarters. Slumping demand for the market leading Xiaomi Mi Band line as well as a market exit from Samsung, in addition to macroecomonic weakness, geopolitical uncertainty, and continued high inflation stifling consumer discretionary spending contributed to the downtick. Consumers are trending away from fitness bands and toward smart and feature watches, offering more functionality at increasingly lower price points. Online sales channels remain strong and consumer interest in fitness tracking and health monitoring remains high. Our report tracks global fitness band volume and share by hardware vendor by quarter by region. It can be used by device makers, component suppliers, operators, software developers and other stakeholders to determine the size of the fitness band market worldwide.
