Strong demand for smart wearables continued to bolster the development of wearable electronics in 2019. Smartwatches performed especially well as the innovative features and functions of new models launched towards the end of the review period helped to convince more Dutch consumers of the benefits of such products.
Another factor that helped to strengthen demand for smartwatches and other types of smart wearables in 2019 was the growing availability of products that can be used to make contactless payments. Working in conjunction with local financial service providers such as Rabobank, ABN Amro and ICS, Fitbit Inc and Garmin are among the companies that have been to the fore in developing this type of service in the Netherlands.
Electronics and appliance specialist retailers remained the leading distribution channel for wearable electronics in volume terms in 2019, followed by internet retailing. Internet retailing made strong volume share gains at the expense of the specialist channel throughout the review period, and this trend looks set to continue towards 2024.
Fitbit remained the clear leader in wearable electronics in volume terms in 2019. This was chiefly due to its commanding lead in activity wearables, where it enjoys an early mover advantage and a reputation for innovation, though it was also present in smart wearables.
Apple remained the leading player in smart wearables in 2019, followed by Samsung. Both companies continued to record strong growth in volume sales, with Apple being the more dynamic of the two thanks to the success of its Apple Watch Series 4, which was launched in September 2018.
Though they remained relatively minor players, Chinese companies Huawei and Xiaomi performed positively in wearable electronics in 2019. Huawei benefited from the launch of a number of new products in late 2018 and early 2019, including the Active and Elegant editions of its Huawei Watch GT.
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This industry report originates from Passport, our Consumer Electronics market research database.