Wearables now worth over $50bn per year, observes IDTechEx

August 23, 2019 //By Julien Happich
Wearables
IDTechEx's latest report on the topic has found that wearable technology products will be worth over $50bn in 2019. In fact, the total market size has doubled in size since 2014, placing wearables as one of the most consistently successful markets around consumer electronics in the last 5 years.

However, in 2019 headlines have been less frequent, investment has become more focused, and generally the hype around wearables has all but faded.

IDTechEx's most comprehensive study of wearable technology, “Wearable Technology Forecasts 2019-2029” looks at how this sector has evolved over the last few years, and how things will change in the coming decade.

The report describes how the growth in the last five years has been driven by several key product types including smartwatches, continuous glucose monitoring devices (CGM), hearing aids, headphones and AR, VR & MR. The report looks at each of these sectors in detail, providing assessments and market data across all of the key players, technology, and in the current themes for each product area.

In addition, there have been many new types of wearable technology product in this time, ranging from new types of electronic skin patch, to smart apparel based on electronic textiles, to other new form factors for devices from footwear, to rings, to headbands. In assessing 48 separate product types, the IDTechEx report is unique in its breadth of coverage across all wearable electronic products.

The report looks at the wearable technology landscape as a sum of its parts. The chapters in the report focus on each of the individual product sectors within the much wider theme of wearables. It is within these product sectors that the most comparison can be drawn, with discrete sets of players, themes, technology and progress, and relatively minimal overlap and competition between sectors. 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, and overviews of various other themes.


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