Last year, 181.5 million pieces were shipped
ResearchAndMarkets.com has added the Wearable Computing Market – Growth, Trends, Forecast (2020-2025) to its catalog. It says that in 2019, 181.5 million such devices were shipped worldwide. According to the forecast, in 2025 the market volume in kind will reach 520.1 million units. This forecast is in line with an average annual growth of 19.9% between 2020 and 2025.
In the coming years, shipments of wearable electronic devices will grow by almost 20% annually
Wearable devices are one of the emerging trends to integrate electronics into everyday activities, analysts say. Market growth is driven by technology developments and the participation of major suppliers. Consumer interest in devices that help to monitor physical condition and take care of health is also named as one of the stimuli. As an example, the report cites Apple Watch Series 4 smart watches running Watch OS and, in particular, equipped with an electrocardiograph function. A related segment can be considered smart hearing devices, which have active noise canceling and personalization functions according to the needs of the user.
Due to the COVID-19 pandemic, analysts note that global electronics demand dropped significantly in the first quarter of 2020. However, in some segments, on the contrary, demand has grown strongly. This applies, for example, to smart watches. Moreover, the pandemic has spawned a new category of wearable devices that are designed to monitor the distance between employees in enterprises. Social distancing is considered one of the most effective measures to prevent the spread of infection.