With 2016 seeing a staggering 102.4 million wearable devices being shipped, it is no longer a tall tale but a proven conclusion.
"Like any technology market, the wearables market is changing", noted Ramon Llamas, research manager for IDC's Wearables team.
The worldwide wearables market reached an all-time high in the last quarter, but there's some serious company pivoting going on, according to a new report.
In terms of vendors, Fitbit maintained its dominance, with 6.5 million quarterly sales and 19.2 percent of the market, albeit down from 29.0 percent in Q4 2015.
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That differs from the Affordable Care Act's income-based credits. "I don't think they wanted the individual mandate", he said. Regardless, only a few better-off Americans would qualify for it because most have health insurance through their jobs.
It's still tiny in relation to wrist devices, but ear-worn devices and sensor-laden clothing each surpassed 1% of the entire market for the previous year. Thanks to their surprise hits, Gear S3 Classic and Frontier Samsung managed to hold a 5.6 per cent market share translating to 1.9 million units being shipped in the fourth quarter of 2016.
Other than this, Garmin and Samsung were able to capture 6.2 per cent and 5.6 per cent of market share in the wearable segment.
A new estimate from IDC backs that up, finding that Apple shipped 4.6 million Apple Watches during the holiday quarter. The main reason for this decline can be attributed to the company's decision of focusing the United States market heavily, which is on a verge of saturation.
During the quarter, Apple took third place in the overall market behind No. 2 Xiaomi and leader Fitbit. Like its other product lines, the company has stuck with a low-priced strategy and has slowly tried to veer upstream in terms of pricing by introducing new devices with heart rate monitoring and a mildly higher selling price. The lower entry price point and the inclusion of Global Positioning System on the Series 2 along with a completely revamped user interface have helped the company grow its presence. LTE connectivity has been a key differentiator for Samsung's watches as it has helped decouple them from smartphones, but more importantly, it has opened up a new channel (telcos) to help promote the Samsung watches, the report added.