Market 31 Aug
Back in March, IDC reported that how wearable devices market will grow by 15 percent in 2018 and now we have another report by a popular market research firm Gartner that shared some interesting insights into this. As per the latest report in this regard, the company shares that global wearable device shipments would grow to 225 million in 2019 which is an increase of 25.8 percent from 2018.
The senior director of Gartner Alan Antin shared in a statement regarding this,
"At the moment, the smartwatch market is bolstered by the relatively stable and higher average selling price (ASP) of the Apple Watch. But the overall ASP of smartwatches is expected to slowly decline from $221.99 in 2018 to $210 in 2022, due to lower-priced competitors,"
It’s quite interesting to know how 74 million smartwatches would be shipped in 2019, covering the major portion of the wearable device market. Anti further added to this trend,
"Traditional watch brands such as Fossil and Casio will gain market share by offering more style and choice in their portfolio than the technology brands. We think that fashion and traditional watch brands are likely to account for up to 20 percent of unit shipments by 2022,"
New products 22 Jun
What’s even more interesting and mind-blowing is how hearable devices (headphones, earphones etc) would take over wearable segment by 2022 with 158 million units. Are you aiming to grab a smartwatch in the upcoming year? Let us know in the comment section below.