Apple is slowly losing its smart wearable market,  while Fitbit posts an impressive sales output, according to the latest report from market research company International Data Corporation (IDC). 

IDC categorizes fitness bands under "basic wearables" category. Based on the report, fitness bands were the top-selling wearable devices in the third quarter of the year, accounting for 85 percent of the market. IDC said that the exponential increase is due to growing user interest and the steady launch of new models.

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While the basic wearable market enjoys a steady growth, the same cannot be said with the smart wearable market where products like the Apple Watch belongs. IDC defines smart wearable devices as those which are capable of running third-party apps.

IDC said that the smart wearable market has experienced a continuous drop in market share throughout the quarter and projected that it will continue to drop until the end of the year. The Apple Watch suffers the biggest blow, posting a 71 percent year-to-year decline.

In a statement acquired by ZDNet, IDC senior research analyst Jitesh Ubrani said, "It's still early days, but we're already seeing a notable shift in the market."

Based on the third quarter data from IDC, Fitbit shipped 5.3 million units, accounting for 23 percent of the market. Xiaomi is in the second spot with 3.8 million units shipped, or 16.5 percent of the market share. Third is Garmin with 1.3 million units shipped with 5.7 percent of the market share. And Apple lands in the fourth spot with 1.1 million units shipped, accounting for 4.9 percent of the market. Completing the top five is Samsung with 1 million units shipped accounting for 4.5 percent of the market.

TagsIDC, smart wearable, smart devices, basic wearables, FitBit, apple, Apple Watch