Canalys, an independent analyst company, says wearable band shipments are growing at a rate much faster than previously anticipated by many,
The wearable band market grew 684% on a worldwide basis in the first half of 2014 compared with the first half of 2013, the firm reports.
“Fitbit and Jawbone have very successfully grown and strengthened their relationships with channel partners internationally to grow global shipment volumes. They took first and second place respectively in the basic wearable band market in the first half 2014,” said Canalys VP and Principal Analyst Chris Jones.
Canalys notes that Nike’s market share has fallen as it cuts resources in this area, while new entrant Garmin had a successful launch of its vivofit device and is chasing third place.
“The challenge all vendors face is keeping consumers engaged with the devices, 24 hours a day, seven days a week,” Jones adds.