Skip to main content

Global Wearables Market will Reach $30 Billion in 2016

Wearable Technology development is focused any electronic products that are designed to be worn on the person. Over the last couple of years, vendors in the market for wearable devices have moved beyond the initial hype to describe practical uses that are enabled by software apps.

With the core wearable technology sectors now beginning to mature, IDTechEx has released their latest analysis of this diverse and growing industry in their "Wearable Technology 2016-2026" report.

Their latest worldwide study finds the market to be worth over $30 billion in 2016, with over $11 billion of that coming from newly popular products -- including smartwatches and fitness trackers.

Wearables Market Development Opportunities

However, despite the total market growing to over $150 billion by 2026, IDTechEx forecasts a pending shake-up in several prominent sectors -- with some commoditization impacting pricing and product form factors adapting to nascent opportunities.

The IDTechEx market study explored these trends in granular detail, including 39 separate forecast lines by product type and 60 formal company profiles and interviews compiled from primary research. Their resulting report also covers all of the industry trends that are driving innovation, demand and development.

They also describe emerging product application sectors -- including fitness & wellness, elite sportswear, healthcare & medical, infotainment, commercial, industrial, and military, among others.


Fueled by a frenzy of hype, funding and global interest, IDTechEx believes that wearable technology was catapulted to the top of the agenda for technology vendors spanning the entire value chain across the globe.

This investment manifested in hundreds of new products and extensive R&D investigating relevant technology areas. However, many companies are now progressing beyond discussing wearables to focus on the detailed and varied sub-sectors that have a multitude of potential new use cases.

Smartphones Central Role in Wearable Apps

According to the IDTechEx assessment, there's a compelling business case for standalone wearable communication devices -- as a future evolution of the smartphone.

Today, most smartwatches and many fitness trackers still rely, at least partially, on a connection to a smartphone hub. The ubiquity of the smartphone as a central platform has been a key enabler for growth in wearables so far, but all of the largest manufacturers now look to a future, where the hub itself may become the actual wearable.

Popular posts from this blog

Climate Change Benefits from The Circular Economy

The COP26 Summit (in Glasgow, Scotland)  brought parties together to accelerate action towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change. Meanwhile, the circular economy is a key sustainability strategy adopted by industry leaders in their efforts to achieve progress. While the circular economy is still in its infancy in terms of data and metrics, it's a growing phenomenon where technology sectors -- such as the Internet of Things (IoT) for asset tracking -- are set to grow rapidly within the next five years. Global technology intelligence firm ABI Research forecasts that the world will achieve over 10.5 percent circularity by 2030, as sustainability efforts and incoming legislation start to take effect. Circular Economy Tech Market Development "The circular economy is an often-misunderstood concept that goes much further than waste management and can become a blueprint for cities. It is a movement away from our take-make-waste economy

Business Technology for The Anywhere Workspace

The COVID-19 global pandemic fueled the trend of pushing executives outside of their comfort zone, while government-mandated lockdowns required their knowledge worker employees to work from home. Companies that previously avoided 'Flexible Working' models were forced to embrace the pervasive trend in a matter of weeks, as new remote working policies became a CHRO standard practice. As we enter 2022, more employers will empower their key employees to work wherever they desire and engage with customers whenever and however they prefer. Moreover, the ongoing transformation to an 'Anywhere Workspace' will drive strategic IT spending and advance cloud-based SaaS adoption. Business Technology Market Development Global enterprise IT spending is projected to total $4.5 trillion in 2022, an increase of 5.5 percent over 2021, according to the latest worldwide market study by Gartner. "Enterprises will increasingly build new technologies and software, rather than buy and imp

Top 10 Predictions for The Worldwide CIO

Chief executives are eager to accelerate a digital business growth agenda. Focused on business model reinvention, the remediation of technical debt, sustainable IT infrastructure and more, International Data Corporation (IDC) unveiled their Worldwide CIO Agenda 2022 Predictions. The key IDC predictions will likely impact CIOs and IT professionals over the next one-to-five years. IDC analysts believe IT leaders have opportunities that will not present themselves again in their lifetimes. Chief Information Officer Agenda Predictions With forward-looking insights, IDC provides senior IT leaders and Line-of-Business (LoB) executives with actionable guidance for managing IT investment priorities and implementation strategies as they continue to navigate the winds of change. The top ten IDC predictions are: 1: Through 2026, 65 percent of CIOs will sustain a cycle of tech-based empowerment, agility, and resilience through collaborative governance, new service delivery models, and a business o