IDC Forecasts Double-Digit Wearables Progress via 2024

Supply: IDC Worldwide Quarterly Wearable System Tracker, September 2020

It’s not onerous to search out rosy prospect claims for any market, however we pay particular consideration to the Worldwide Information Company (IDC) market forecast experiences. Together with Gartner, IDC is thought for its analysis, trustworthiness, and, properly, the gravitas of its experiences. So it’s in that spirit that we report the announcement of the most recent IDC Worldwide Quarterly Wearable System Tracker. The general mission is bullish for wearables for the following 4 years.

IDC experiences an anticipated 396 million wearable system shipments worldwide for 2020, a 14.5% enhance over 2019. IDC expects shipments to develop at a compound annual charge of 12.4 via 2024, with a complete of 637.1 items to ship within the final 12 months of that interval.

Hearables had been the wearable market chief throughout 2020’s first half whereas watches and wristband units slipped a bit. These three classes will proceed to steer the market, IDC experiences. Components that can drive hearables’ continued market dominance embody smartphones dropping headphone jacks for Bluetooth units, decrease costs, and expanded use circumstances together with well being and health monitoring, sensible assistants, and residential and work connectivity.

Smartwatch and common watch shipments may also enhance throughout the subsequent 4 12 months, says IDC, pushed by new health and productiveness purposes for Apples, iOS, Samsung’s Tizen, and Google’s WearOS. IDC additionally famous Google acquired FitBitOS to spice up the model’s health and well being purposes.

Wristbands can have the smallest cargo progress of the highest three classes. Most wristbands promote for lower than $40, which IDC signifies opens area for higher-priced fashions with superior options.

IDC’s Wearable System Tracker additional breaks down wearables knowledge and by market dimension, vendor share, and market forecasts for greater than 100 markets worldwide.