IDC: Worldwide Wearables Market to Nearly Double by 2021

As the wearables market transforms, total shipment volumes are expected to maintain their forward momentum.

That’s according to data from the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker.

The IDC estimates that vendors will ship a total of 125.5 million wearable devices this year, marking a 20.4% increase from the 104.3 million units shipped in 2016.

From there, the wearables market will nearly double before reaching a total of 240.1 million units shipped in 2021, resulting in a five-year CAGR of 18.2%.

“The wearables market is entering a new phase,” says Ramon T. Llamas, research manager for IDC’s Wearables team. “Since the market’s inception, it’s been a matter of getting product out there to generate awareness and interest. Now it’s about getting the experience right – from the way the hardware looks and feels to how software collects, analyzes, and presents insightful data. What this means for users is that in the years ahead, they will be treated to second- and third-generation devices that will make the today’s devices seem quaint. Expect digital assistants, cellular connectivity, and connections to larger systems, both at home and at work. At the same time, expect to see a proliferation in the diversity of devices brought to market, and a decline in prices that will make these more affordable to a larger crowd.”

For more insight, check out IDC’s report here.

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