New IDTechEx Report Shows Wearables Are Now Worth Over $50bn Per Year as Growth Quietly Continues

The report looks at the wearable technology landscape as a sum of its parts. The chapters in the report focus on each of the individual product sectors within the much wider theme of wearables. It is within these product sectors that the most comparison can be drawn, with discrete sets of players, themes, technology and progress, and relatively minimal overlap and competition between sectors. Each chapter in the report addresses a different sector, including smartwatches & fitness trackers, smart eyewear (including VR, AR & MR), hearables (including headphones & hearing aids), smart clothing and e-textiles, electronic skin patches, and overviews of various other themes. Through researching the topic over the last decade, IDTechEx have encountered thousands of different companies (e.g. maintaining a database of over 1200 companies), had site visits, face-to-face meetings and telephone interviews with several hundred of these companies, and have included key data from many of these…

The report looks at the wearable technology landscape as a sum of its parts. The chapters in the report focus on each of the individual product sectors within the much wider theme of wearables. It is within these product sectors that the most comparison can be drawn, with discrete sets of players, themes, technology and progress, and relatively minimal overlap and competition between sectors. Each chapter in the report addresses a different sector, including smartwatches & fitness trackers, smart eyewear (including VR, AR & MR), hearables (including headphones & hearing aids), smart clothing and e-textiles, electronic skin patches, and overviews of various other themes. Through researching the topic over the last decade, IDTechEx have encountered thousands of different companies (e.g. maintaining a database of over 1200 companies), had site visits, face-to-face meetings and telephone interviews with several hundred of these companies, and have included key data from many of these conversations throughout the report.

The approach of looking by sector, but then observing the bigger picture of how these sit under the "wearables" banner reveals some very interesting trends from recent years. For example, IDTechEx track a series of relevant metrics to understand the "state of the industry," including search trends, patent trends, investment data (funding and number of rounds), number of product launches, and key revenue and product shipment volume data across each of the 48 product forecast lines included in the report. When aggregating trend indicators together, it is possible to see the clear hype curve for wearables, peaking in 2015 and falling since. This hype curve actually correlates relatively well with the growth rate in the overall industry, increasing to a peak at 36% growth between 2014 and 2015, but falling to the 10-20% range per year ever since. However, despite the clearly reduced hype, this growth has led to a doubling in annual revenue generated in the sector in this time. This data is summarized in the figure above.

So despite the attention shifting elsewhere, IDTechEx's report finds that wearable technology products continue to see excellent sustained growth, generating billions of dollars of new revenue each year. For more information about the report, its table of contents, listing of companies mentioned, forecast databases and methodology, key insights and other relevant information, please see the report page on the IDTechEx website www.IDTechEx.com/wearables or email [email protected].

To find out more about Wearable Technology research available from IDTechEx visit www.IDTechEx.com/Research/WT or to connect with others on this topic, IDTechEx Events is hosting: Wearable USA - Applications and Commercialization, November 20-21 2019, Santa Clara, USAwww.WearableUSA.tech.

IDTechEx guides your strategic business decisions through its Research, Consultancy and Event products, helping you profit from emerging technologies. For more information on IDTechEx Research and Consultancy contact [email protected] or visit www.IDTechEx.com.

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