NEW DELHI: The global wearables market has recorded its eighth consecutive quarter of steady growth in the first quarter of 2015, according to an IDC report.
The IDC worldwide quarterly Wearable device tracker report said vendors had shipped a total of 11.4 million wearables in this quarter, a 200 percent increase from the corresponding period last year when around 3.8 million wearables shipped.
"Bucking the post-holiday decline normally associated with the first quarter is a strong sign for the wearables market," said Ramon Llamas, research manager, wearables at IDC.
"It demonstrates growing end-user interest and the vendors' ability to deliver a diversity of devices and experiences. In addition, demand from emerging markets is on the rise and vendors are eager to meet these new opportunities," he added.
Fitbit took the top spot with the release of three new devices (the Charge, Charge HR, and the Surge) during the first quarter along with continued demand for its older Flex wristband and One and Zip clip-on models. Xiaomi came second with its Huami Technologies-made Mi fitness band.
Garmin took the third spot followed by Samsung, Jawbone, Pebble and Sony.
Explaining the report, Jitesh Ubrani, senior research analyst, worldwide mobile device trackers, said: "As with any young market, price erosion has been quite drastic. We are now seeing over 40 percent of the devices priced under $ 100, and that's one reason why the top 5 vendors have been able to grow their dominance from two thirds of the market in the first quarter of last year to three quarters this quarter."
"Despite this price erosion, Apple's entrance with a product priced at the high end of the spectrum will test consumers' willingness to pay a premium for a brand or product that is the centre of attention," he added.
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