Tag: wearable technology market

Wearable technology industry will be worth $34 billion in 4 years

By the year 2020, CCS Insight is predicting that there will be 411 million wearables owned by consumers.

Analyst firm, CCS Insight has now give its wearable technology outlook an update, now predicting that by 2020, there will be 411 million smart wearable technology devices owned by consumers, and that the industry will be worth a massive $34 billion.

The firm also stated that, by the close of 2016, the wearables industry will have broken the $14 billion mark.

The predictions that it has made is that wrist-based wearable technology devices, such as many fitness trackers and smartwatches, will continue to top the list among the most popular gadgets in the category. The forecast the analyst has issued has stated that wrist-worn wearables will make up half of all sales in this category in the upcoming 12 months. Moreover, smartwatches are expected to make up 50 percent of the predicted 60 million device shipments that it expects to occur during that time.

This wearable technology update has changed since mid-2015, showing a 41 percent market share for the Apple Watch.

Wearable Technology Industry worth billionsAt that time, it said that there would be 20 million Apple Watches sold in 2015. That said, its data has now shown that during that time, the figure was strikingly lower; at only 9 million device sales.

Previously in February, another firm, Canalys, had indicated that its estimates were that in 2015, there were 12 million Apple Watches shipped. If that firm’s claims are true, that would give the company a much larger share, at about two thirds of the smartwatch marketplace. On the other hand, a week after that, Gartner released its figures and said that in 2015, the total number of smartwatch sales from all brands was 30 million. These varying numbers and measures make it evident that knowing what has already happened may be just as difficult to measure as predicting what will be occurring a few years down the road.

According to CCS Insight chief of research, Ben Wood, when discussing the wearable technology forecast report, “Given the rising consumer apathy toward smartphones, it is little wonder so many companies are chasing the rapidly growing opportunity presented by wearables. We’re particularly excited about the potential for augmented and virtual reality devices, and we predict 2016 will be a pivotal year.”

Wearable technology device shipments will break 200 million in 2019

A new forecast from IDC has predicted that smartwatches, fitness trackers and other wearables are rising fast.

This year, the International Data Corporation (IDC) reported a massive surge in the wearable technology market, which it said saw growth of 300 percent due to the sale of products such as the Fitbit Surge, Apple Watch and Pebble Time.

The IDC has released a report saying that by the end of 2016, worldwide shipments will hit 111.1 million.

That will mean that wearable technology will have seen an increase of 44 percent over the figure from 2015. That said, by the year 2019, shipments of wearables will have broken through the 214.6 million mark. According to the wearables team research manager at IDC, Ramon Llamas, “In a short amount of time, smartwatches have evolved from being extensions of the smartphone to wearable computers capable of communications, notifications, applications, and numerous other functionalities.”

It was also pointed out that wearable technology devices are experiencing a rapid evolution.

Wearable Technology - Wearables on the riseLlamas went on to point out that just because they’re starting to sell and they will be seeing rapid growth over coming years, it doesn’t mean that the smartwatches we currently know will be the ones that actually take off over the next few years. He explained that “The smartwatch we have today will look nothing like the smartwatch we will see in the future.”

He also underscored the forecast that the details of these devices will be quite different from what we currently see. The health sensors, cellular connectivity and even the wearables app market – which is already rapidly on the grow – will be ready to provide serious game changing evolutions in this market. Llamas feels that it will be in those areas that the gadgets will start to define themselves as having value and will become appealing to consumers.

While many of its predictions aligned well with other reports that have been issued by various prediction firms, the IDC report was somewhat different in that it has said that watchOS and Android Wear will be grabbing the top two spots (respectively). That said, it also stated that Tizen from Samsung will carve out an important segment of the market over the next four years, as well, to the point that it might swipe away some of the share that would otherwise have belonged to Android Wear.