1IDC Foresees Big Changes Coming to Wearables Market as Sales Soar
Wearables could be the next major-growth segment in the mobile technology industry, according to new data from research company IDC. Wearable device makers will ship 113.2 million units this year across a wide range of device types, including smartwatches, fitness trackers, and wireless headphones, according to IDC market study. But by 2021 manufacturers will ship 222.3 million devices, an 18.4 percent compound annual growth rate, IDC estimates. But major changes are coming to the wearables market over the next three years. The fitness trackers that dominate the market now will have less influence as full featured smartwatches from the likes of Apple and Samsung become the top sellers. Meanwhile, smart clothing will become a significant force in the marketplace. Read on for more details on IDC’s wearable market study.
2Fitness Trackers Are Still Top Sellers
3Fitness Trackers Are Losing Steam
Looking ahead, fitness tracker sales are stagnating. According to IDC, it expects total fitness tracker shipments around the world to hit 47.7 million units by 2021. That amounts to 1.5 percent compound annual growth between 2017 and 2021. As a result, the category’s market will slide to 21.5 percent.
4Smartwatches Showing Strong Growth
5Smartwatches Shipments to Continue Growing
Apple and some competitors, including Samsung and Google, are expected to benefit from smartwatch popularity over the next several years. The smartwatch category could tally 71.5 million unit shipments in 2021, earning it 32.1 percent market share. Smartwatches should be able to tally a 22.7 percent compound annual growth rate between 2017 and 2021.
6Basic Watches Keep Growing
7But Basic Watch Sales to Grow Sharply
8Smart Clothing Shows Strong Potential
9Smart Clothing Sales Will Soar
By 2021, smart clothing shipments will jump as prices come down and a broader market sees value in the category, IDC predicts. In 2021 smart clothing shipments will total 11.5 million units, earning the category 5.2 percent of the wearables market. That also mean clothing shipments will show a 48.7 percent compound annual growth rate over 2017-2021 period.
10Earwear Remains a Tiny Wearable Category
11Earwear Has Strong Growth Potential
Thanks in no small part to smartphone makers removing the headphone jacks in their devices, wireless headphones sales will soar in the coming years, according to IDC. By 2021, total earwear shipments will hit 10.6 million units, earning the category the strongest compound annual growth rate in the market of 58.5 percent. Earwear’s market share will also triple to 4.8 percent.