IDC Projects Wearables Market to Grow 173 Percent This Year

According to IDC, 72.1 million wearable devices will be shipped this year. The global forecast represents an increase of 173.3 percent over 2014. Shipments are expected to experience a 42.6 percent compound annual growth rate the next several years, reaching 155.7 million units in 2019. The demand for sub-$100 wearables from vendors such as Fitbit and Xiaomi that do not require third party apps has been particularly strong. “We expect smart wearables, those capable of running third party apps, to take the lead in 2016,” said analyst Jitesh Ubrani.

“Smart wearables like the Apple Watch and Micosoft’s Hololens are indicative of an upcoming change in computing, and the transition from basic to smart wearables opens up a slew of opportunities for vendors, app developers, and accessory makers,” explained Ubrani, senior research analyst, Worldwide Mobile Device Trackers (source: MacDailyNews).

In addition, the smart wearables category will include the emerging wave of AR and VR headsets and related products.

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“Android Wear, Tizen, and watchOS are moving ahead with improved user interfaces, user experiences, and applications,” added Ramon Llamas, research manager, Wearables. “These will raise the expectations of what a smart wearable can do, and each platform is vying for best-in-class status. We’re not there yet, but we’re seeing the building blocks of what is to come.”