According to the latest research from Strategy Analytics, global wearables shipments reached 22 million units in the first quarter of 2017. Apple captured 16 percent market share and became the world's largest wearables vendor, overtaking Fitbit and staying slightly ahead of Xiaomi who sells bottom line devices.

Steven Waltzer, Industry Analyst at Strategy Analytics, said, "Global wearables shipments reached 22.0 million units in Q1 2017, rising 21 percent annually from 18.2 million in Q1 2016. Stronger demand for new smartwatch models in North America, Western Europe and Asia drove the uptick."

Neil Mawston, Executive Director at Strategy Analytics, said, "Apple shipped 3.5 million wearables worldwide in Q1 2017, rising 59 percent annually from 2.2 million units in Q1 2016. Apple captured 16 percent global market share and overtook Fitbit to become the world's largest wearables vendor. The new Apple Watch Series 2 is selling relatively well in the US, UK and elsewhere, due to enhanced styling, intensive marketing and a good retail presence. Xiaomi shipped 3.4 million wearables for 15 percent market share worldwide in Q1 2017. Demand for its popular Mi Band fitness range was broadly flat across its core markets of Asia."

Cliff Raskind, Director at Strategy Analytics, said, "Fitbit shipped 2.9 million wearables worldwide in Q1 2017, falling a huge 36 percent annually from 4.5 million in Q1 2016. Fitbit has lost its wearables leadership to Apple, due to slowing demand for its fitness bands and a late entry to the emerging smartwatch market. Fitbit's shipments, revenue, pricing and profit are all shrinking at the moment and the company has a major fight on its hands to recover this year."

According to a report by ABI Research last month "The enterprise smartwatch market is set to see a large amount of growth, reaching nearly 14 million shipments in 2022, up from just over 2 million in 2017." This is definitely a market Apple will be pursuing.

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