Wearables market reaches $50B
The hype for the technology is over, but the growth picked up with more focused investments. The comprehensive study looks at the evolution of the sector in recent years few years, and previews forthcoming changes.
The recent growth is mainly driven by smartwatches, continuous glucose monitoring devices (CGM), hearing aids, headphones and AR, VR & MR. The report investigates these sectors in detail, with assessments and market data for key players and technology. It also looks at upcoming wearable technology, from skin patches, to smart apparel based on electronic textiles, to other new form factors. 48 product types are covered in total.
The new report takes in the overall industry as well as its parts. Each product sector is given in context with the rest of the industry. Each chapter in the report addresses a different sector, including smartwatches & fitness trackers, smart eyewear (including VR, AR & MR), hearables (including headphones & hearing aids), smart clothing and e-textiles, electronic skin patches, as well as other themes.
Looking at the area by sector, then looking at the bigger picture reveals trends from recent years. In the report IDTechEx aggreged these trend indicators together, to show the clear hype curve for wearables, which peaked in 2015 and has fallen since. This hype curve actually correlates relatively well with the growth rate in the overall industry, increasing to a peak at 36% growth between 2014 and 2015, but falling to the 10-20% range per year ever since. However, despite the clearly reduced hype, this growth has led to a doubling in annual revenue generated in the sector in this time.
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