Skip to main content

Connected Wearables Shipment will Reach 239 Million

Wearable technology adoption has reached a turning point in developed markets across the globe. Berg Insight released its latest findings of the connected wearables market. Shipments of connected wearables reached 116.8 million worldwide in 2018.

Growing at a compound annual growth rate (CAGR) of 15.4 percent, total shipments of smartwatches, smart glasses, fitness & activity trackers, smart clothing, mobile telecare and medical devices as well as other wearable devices are forecasted to reach 238.5 million units in 2023.

Wearable Device Market Development

Bluetooth will remain the primary connectivity option in the coming years. A total of 67.7 million of the wearables sold in 2023 are forecast to incorporate embedded cellular connectivity, mainly in the smartwatch and telecare or medical device categories.

The connected fitness & activity tracker segment is led by Chinese Xiaomi, which has been successful with its Mi Band fitness tracker. Fitbit is still among the largest vendors in the segment, along with Huawei and Garmin.

Berg Insight now estimates that shipments in the segment reached 65 million units in 2018. This product category is now facing fierce competition from smartwatches that in most cases include activity tracking features.

Apple entered the connected wearables market in Q2-2015 and quickly became the leading smartwatch vendor. In 2018, Apple accounted for almost half of the total 45.5 million smartwatches sold during the year.

"Apple continues to hold a firm grip on the smartwatch market and is at the forefront of innovation in the industry," said Martin Bäckman, industry analyst at Berg Insight.

The competition has responded with increasingly capable and attractive devices from Wear OS vendors including Fossil, LG and Huawei, as well as from consumer electronics vendors betting on other platforms such as Fitbit and Samsung.

The smartwatch segment is expected to surpass fitness & activity trackers to become the largest device category within wearable technology, in terms of shipments, in 2021.

"Technology advancements, increased consumer awareness and wide availability of devices in different price segments will enable smartwatches to reach shipments of 117.7 million units in 2023," concludes Bäckman.

Sales of smart glasses and head-mounted displays have so far been modest, but promising use cases in professional markets as well as in niche consumer markets will enable it to become a sizeable connected wearable device category in the next five years.

A number of vendors including Daqri, ODG, Epson, Google, Microsoft, Kopin and Vuzix are active in the segment. Standalone VR headsets from companies such as Oculus and HTC aimed for the consumer market are gaining traction and accounted for a large share of the total 1.5 million devices shipped in the segment during 2018.

Outlook for Wearable Device Application Growth

Berg Insight forecasts that shipments of smart glasses and head-mounted displays will reach 11.9 million units by 2023. Annual shipments of medical devices and mobile telecare/mPERS devices are forecasted to grow from 1.8 million devices in 2018 to 6.9 million devices in 2023. The segment includes wearables such as cardiac rhythm management devices, ECG monitors and mobile telecare devices.

Finally, annual shipments of wearables not covered by the above product categories -- such as authentication and gestures devices, smart rings, wrist-worn computers and scanners, smart jewelry and connected prosthetics -- are predicted to grow from 3 million units in 2018 to reach 13.0 million units in 2023.

Popular posts from this blog

Digital Transformation Spending Reaches $1.8 Trillion

Ongoing investment in business technology will remain on track, despite concerns about the global economic outlook which continues to evolve in 2022. Enterprise CIOs and CTOs are focused on operational profitability and digital business growth goals that are enabled by strategic IT initiatives. Global spending on the Digital Transformation (DX) of business practices, products, and organizations is forecast to reach $1.8 trillion in 2022 -- that's an increase of 17.6 percent over 2021, according to the latest market study by International Data Corporation (IDC). Many anticipated DX investments will sustain this pace of growth throughout the 2021-2025 forecast period, with a five-year compound annual growth rate (CAGR) of 16.6 percent. Digital Transformation Global Market Development "IDC expects to see aggressive DX technology investment growth in 2022 following a minor slowdown during the pandemic period," said Craig Simpson, senior research manager at IDC . "As orga

Why Cloud-Native is The Future of IT Spending

The leading organizations that create a digital transformation plan will gain the most from their use of public cloud computing. However, some CIO and CTO leaders still struggle with how to build a modern cloud migration strategy. The worldwide cloud computing Infrastructure as a Service (IaaS) market grew 41.4 percent in 2021, to a total of $90.9 billion -- that's up from $64.3 billion in 2020, according to the latest market study by Gartner. "The IaaS market continues to grow unabated as cloud-native becomes the primary architecture for modern workloads," said Sid Nag, vice president and analyst at Gartner . Cloud IaaS Market Development Cloud supports the scalability and composability that advanced technologies and applications require, while also enabling enterprise leaders to address emerging needs such as sovereignty, data integration, and enhanced customer experience. In 2021, the top five IaaS providers accounted for over 80 percent of the market. Amazon AWS conti

Private 5G Networks and Enterprise Wi-Fi Converge

The global enterprise wireless networking market is evolving. Driven by a desire to take advantage of the available 6 GHz communications spectrum, with greatly improved broadband throughput and latency rates, more organizations may choose to adopt Wi-Fi 6E technologies. According to the latest worldwide market study by ABI Research, shipments of Wi-Fi 6E access points and routers will rise from 1.5 million units in 2022 to 5.2 million units by 2024. Wireless spectrum expansion is just one facet of the commercial wireless network market transition, as the technology of Wi-Fi customer premise equipment will be upgraded once again with Wi-Fi 7 (IEEE 802.11be standard) devices. Enterprise Wireless Network Market Development "The adoption of Wi-Fi 7 access points will accelerate following the protocols standardization in 2024, and just two years later, most 6 GHz enabled access point shipments will be supporting Wi-Fi 7," said Andrew Spivey, industry analyst at ABI Research . Anot