Smartwatch demand rises in Nigeria, others — IDC

Increased demand for smartwatches drove the growth of the wearables market in Nigeria, some African and Middle Eastern countries in 2022, according to the International Data Corporation.

Wearable devices are electronic devices such as earbuds, smartwatches among others, designed to be worn on a user’s body.

The data insight firm explained that the overall market value growth was driven by a 45 per cent year-on-year increase in the value of smartwatch shipments to the region, with the devices accounting for 60.6 per cent of the total wearable market’s value in 2022.

It also added that the unit growth in wearables was because of a 13.6 per cent y-o-y increase in shipments of earwear devices, which accounted for 50.6 per cent of total wearable shipments to the region in 2022.

A Senior Research Analyst at IDC, Nourhan Abdullah, said, “Continuous product releases and model updates are driving strong demand for smartwatches across the region.

“On the contrary, the wristband category is still facing many challenges, with consumers increasingly preferring the higher specs of basic watches that are priced in a similar range.

“Looking ahead, the region is facing many economic challenges that are likely to constrain disposable income and hamper consumer demand for wearable devices, leading to an increase in demand for cheaper entry-level models.”

The latest edition of the firm’s ‘Worldwide quarterly wearable devices tracker’, revealed that the shipment of wearable devices grew by 9.8 per cent year-on-year to a total of 14.89 million units, with the market’s value increasing by 25.4 per cent to $2.86bn in the region in 2022.

The firm noted that the earwear segment was dominated by Apple and Samsung, taking up a combined market share of more than 40 per cent. It stated that Xiaomi placed third in the market.

For smartwatches, Apple led, followed by Samsung in second place, and Huawei in third.

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