In this article we gathered information from different market research houses to let you know where wearable industry stands and where it´s heading.
Generator Research reports that smart watches, smart glasses and body sensors have the most potential in the medium term. Their studies show that the markets for smart watches, smart glasses, personal health and fitness products will be worth USD 101.2 billion in 2018. The vast majority of the growth is driven by smart watches and smart glasses.
IHS predicts that from 2013 to 2019 worldwide market for sensors in wearables will expand by 67 million units. This means that in 2019, the worldwide market is estimated to be 466 million units. They also predict that wearable devices will increase to 135 million units in 2019, which is less than three times the total of 50 million in 2013. Sensors are an important part of wearable technology market. Its market growth is driven by the increasing number of sensors in each product sold. This basically means that with wearables getting more complex and measuring more parameters, more sensors will be needed to be installed in them. They predict shipment of sensors will rise faster than the market of wearables themselves. The average wearable device shipped in 2019 will incorporate 4.1 sensor elements, up from 1.4 in 2013.
CSC Insight claims that sales of wearables will grow from 29 million in 2014 to 172 million in 2018, with a spike in 2015. The most popular devices will be smartwatches and fitness trackers. Fitbit and Jawbone will continue to dominate the wearables market. They expect sales of fitness and activity devices to double in 2015 to 40 million units.
So, about that Apple Watch. ABI Research thinks that about 2.3 million units were sold and just over 2.8 million units were shipped into the channel. In contrary with some other companies which claim 4.2 million units were shipped into the channel.
We see the numbers among different research houses don´t completely match but it is clear that wearable market is on the rise and there will be much more grater things to come. We are really happy about it and don´t worry, we will keep you posted about new market situation in the future.