Worldwide Wearable Computing Market Gains Momentum with Shipments Reaching 19.2 Million in 2014
The worldwide wearable computing market (commonly referred to as “wearables”) is finally expanding beyond early adopter status to more functional and stylish lifestyle accessories that are making their way onto the pages of GQ and Shape as well as Computerworld and Wired. According to new research “Worldwide Wearable Computing Device 2014-2018 Forecast and Analysis”, wearables took a huge step forward over the past year and shipment volumes will exceed 19 million units in 2014, more than tripling last year’s sales. From there, the global market will swell to 111.9 million units in 2018, resulting in a CAGR of 78.4%.
Complex accessories (e.g., Nike+ FuelBand, Jawbone UP, and Fitbit devices) will lead the wearables market through 2018 as users continue to embrace their simplicity and low price points. These devices are designed to operate partially independent of any other device, but fully operate when connected with IP-capable devices such as a smartphone, tablet, or a PC. “Complex accessories have succeeded in drawing much-needed interest and attention to a wearables market that has had some difficulty gaining traction. The increased buzz has prompted more vendors to announce their intentions to enter this market. Most importantly, end-users have warmed to their simplicity in terms of design and functionality, making their value easy to understand and use.
To succeed, smart wearable vendors must convince users to shift to a new user experience while offering them a robust selection of third-party applications. It is not a question of “if,” but “when” wearables as a whole will extend into the enterprise.
Finally, according to the latest IDC ConsumerScape 360° survey of more than 50,000 consumers in 26 countries, Samsung, which has already unveiled multiple wearable computing devices, was identified as the most trusted brand for wearables, ahead of Apple, Sony, and Google.
This report presents the five-year forecast for the worldwide wearable computing devices market by product category. The worldwide wearable computing devices market will reach a total of 19.2 million units in 2014, driven primarily by complex accessories such as Fitbit devices, Jawbone’s UP bracelet, and Nike+ FuelBand. Smart accessories, such as the Pebble smartwatch, Samsung GALAXY Gear, and the Sony SmartWatch, will also take a giant step forward, but their value proposition has yet to be completely clarified. Finally, smart wearables like Google Glass have yet to reach millions of units shipped. To this end, IDC believes that the runway for smart wearables is long, and it will not be until 2016 that we begin to see millions of units shipping.
Details of the new report, table of contents and ordering information can be found on Electronics.ca Publications’ web site.
View the report: Worldwide Wearable Computing Market Forecast and Analysis.