Worldwide Shipments Of Wearable Devices To Hit 213 Million Units By Decade’s End
Wearable devices are really showing signs of improvement, especially in terms of global sales. According to a report published by market research firm IDC, the shipments of wearables around the world will hit 101.9 million units by the end of this year. That number represents an increase of 29 percent compared to last year’s figures. Also, the worldwide market for wearable devices is projected to remain consistent at about 20 percent for the next two years. IDC, however, notes that that by the end of this decade in 2020, the shipments of wearable devices across the globe will have ballooned to 213.6 million units.
Among wearable devices, wrist bands and fitness tracking wearables remain the biggest takes of the pie, which should continue to be good news to the ears of companies such as FitBit and Jawbone, which specialize in manufacturing these types of gadgets. Indeed, wrist bands and fitness trackers currently enjoy over 50 percent of the wearables market, compared to the 40 percent claimed by smartwatch devices.
But a few years from now, especially in the year 2020, the market leadership being enjoyed by wrist bands and fitness trackers will be in jeopardy. IDC estimates by that time, smartwatch devices will have held 52 percent of the market. As for wrist bands/fitness trackers? They will enjoy only 28.5 percent.
Smartwatch devices will not be the only wearable gadgets enjoying an increase popularity and demand. IDC predicts that by 2020, the world will see a significant rise in shipments of smart eyewear and even smart clothing. To date, these two types wearables combine to grab a market share of less than 1 percent around the world. But by the end of this decade, they are projected to claim an 8.8 percent market share and 7.3 market share, respectively.
There have been signs that wearable devices are starting to take off. Last month for instance, IDC released a quarterly report showing that shipments of wearables during the first three months of 2016 have increased 67 percent compared to the shipments during the first quarter of 2015. IDC also observed that in various tech conferences and international expos held during the last several months, wearables such as smartwatch devices and fitness trackers often share the spotlight together with smartphones and tablet devices. Also, the fact that several manufacturers have decided to lower the prices of their wearable devices have made it easier for consumers to actually own them.