Fitness is driving growth in wearable technologies. Market intelligence firm Tractica expects that wearable device shipments in the US will total 560-m by 2020 and bring in estimated revenues of $95.3-bn.
Fitness trackers, although predicted to become a thing of the past when compared to smartwatches, is one of the biggest wearable segments with annual shipments expected to reach 187.2-m by 2021. These devices not only appeal to fitness fundi’s, but the larger population that uses them for educating themselves regarding activity levels as well.
Smartwatch shipments are expected to reach 227.3-m by 2021, but still makes up less than 25% of overall global watch shipments, reports Tractica.
According to another market intelligence firm, CCS Insight, approximately 43-m smartwatches will be shipped in 2017 and sales will double to about 86-m units over the next four years.
CCS Insight expects the broader wearable market, which includes fitness bands, smart clothing, hearables and wearable cameras, to grow from $10-bn in 2017 to $17-bn by 2021.
To keep up with the latest wearable technology trends visit the next Wearable Technologies Conference, which will take place 25-26 July at Fort Mason Centre in San Francisco.