Smartwatches, ear-worn devices, wristbands and increased adoption in healthcare were cited as factors driving uptake in the wearables market, with the segment forecast to grow by more than 15 per cent in 2019 by IDC.
In a statement, the research company forecast shipments will grow to 198.5 million units by the end of 2019, a 15.3 per cent rise over 2018.
Looking further ahead, IDC said the market will grow to 279 million units by the end of 2023, representing a compound annual growth rate of 8.9 per cent.
Jitesh Ubrani, IDC research manager for its mobile device trackers unit, believes the rise of smart assistants on both wrist- and ear-worn wearables “is a trend worth watching”.
“Though still in its infancy, the integration of these assistants with wearables opens up new use cases, from allowing these devices to tie into the smart home to making the devices more proactive at urging users to live healthier and more productive lives”.
Breaking down the wearables segment, watches will account for the biggest share of shipments in 2019, at 90.6 million units taking a 45.6 per cent share of the market. Next will be ear wear, with 54.4 million units and a 27.4 per cent share. Wristbands will account for 24.7 per cent, with 49 million devices.
Clothing wearables will have a 1.5 per cent market share, with shipments of 3 million units, with the figure forecast to grow to 8.5 million by 2023.
IDC said these devices, comprising of step-counting shoes and other similar products, have been popular in China so far, but they are gaining traction in other markets as big brands including Nike and Under Armour gain headway.
Their popularity will rise in the future with more enterprise applications, as companies use clothes to monitor employees, added IDC.Subscribe to our daily newsletter Back