The wearables market is evolving as new vendors, devices and consumer knowledge help push the industry forward.
Manufacturers will ship 45.7 million units this year, a 133.4 percent growth from 19.6 million units year-over-year, according to the IDC research group. In addition, shipment volumes will reach 126.1 million units by 2019 - as more consumers show faith in adopting wearables.
"The explosion of wearable devices was clearly led by fitness bands, which until recently commanded prices that provided comfortable margins, but those days are changing," said Ryan Reith, program director of the IDC worldwide quarterly device trackers program. "The price of these fitness bands have come down so significantly in some markets that smartphone OEMs are now bundling them with smartphones at little cost."
"Meanwhile, the market is quickly shifting toward higher-priced devices that offer greater functionality. While Apple's entry into the market is symbolic, the key to success will be to create compelling use cases for the average consumer."
Last updated: Apr 6, 2020 at 08:44 pm CDT
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