Opportunities in the wearable market are expanding and this is what leads IDC to forecast that sales will grow to 198.5 million units by the end of this year. In a few years, in 2023, sales are expected to stand at 279 million units, which will mean a compound annual growth rate of 8.9%.
As factors that will drive them, the consultant refers to the continued proliferation of watches, headphones and ear devices or bracelets, but also the emergence of new applications such as, for example, the health care sector. At this point, IDC emphasizes that the devices are a good source of data about the patient that, besides, can be more autonomous when it comes to keeping track of their health.
Within the company segment, wearables can facilitate digital transformation by transmitting information and allowing workers to perform tasks faster.
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With more than 90.5 million units sold that are expected in 2019, the smartwatch segment leads this market, followed by ear devices (54.5 million) and wristbands (49 million). The clothes will be in a discrete figure of 3 million.
Concerning the evolution of the different categories, the watches will represent 46.6% of all sales in 2018, and in 2023 their market share will be even greater as it will amount to 47.1. They will be followed by ear devices, which in 2019 will account for 27.4% of the wearable units sold and their progression will go further, with a 31% portion of the market in five years.
On the other hand, the sales of bracelets will fall and if they have a 24.7% share this year they will represent 18.1% in 2023.
Meanwhile, connected clothes do not finish taking off. This year will weight 1.5% in the market, a percentage that will increase to 3.1% at the end of the period studied.