Smart wearables, devices capable of running third-party applications, are one of the most exciting areas of mobile technology these days. New devices are announced almost every day as companies rush in to grab their slice of the pie. Devices like the Moto 360 and Samsung Gear line helped shipments reach 4.2 million last year. Market research firm IDC expects that shipments will explode this year and reach 25.7 million units, an impressive growth of 510.9%, thanks in large part to the upcoming Apple Watch.
“Smart wearables are about to take a major step forward with the launch of the Apple Watch this year,” said Ramon Llamas, Research Manager with IDC’s Wearables team. “The Apple Watch raises the profile of wearables in general and there are many vendors and devices that are eager to share the spotlight. Basic wearables, meanwhile, will not disappear. In fact, we anticipate continued growth here as many segments of the market seek out simple, single-use wearable devices.”
The overall wearables market, which includes everything from fitness trackers and modular wearables (that use clips or straps) to clothing and earware will see shipments top 45.7 million units in 2015, up 133.4% from the 19.6 million units shipped in 2014. Growth is not expected to show any signs of a slowdown over the next five years with shipments set to top 126.1 million units by 2019.
Wrist-worn wearables, which include not only smartwatches but also bands and bracelets, will be the most popular by far and account for nearly 90% of all wearable shipments this year. Despite growing interest in other product categories such are clothing and eyewear, wrist-worn devices will still account for 80% of the market in 2019.
Whether wearables shipments match these expectations will depend in large part on whether companies can come up with the use cases that will convince the average consumer that they need to replace their traditional watch or complement the nearly ubiquitous smartphone with an additional device.
Source : IDC