Shipments of connected wearables will reach 239 million in 2023
05/05/2019 | Source: IoT Business News
Berg Insight today released new findings about the connected wearables market. Shipments of connected wearables reached 116.8 million worldwide in 2018.
Growing at a compound annual growth rate (CAGR) of 15.4 percent, total shipments of smartwatches, smart glasses, fitness & activity trackers, smart clothing, mobile telecare and medical devices as well as other wearable devices are forecasted to reach 238.5 million units in 2023.
Sales of smart glasses and head-mounted displays have so far been modest, but promising use cases in professional markets as well as in niche consumer markets will enable it to become a sizeable connected wearable device category in the next five years. A number of vendors including Daqri, ODG, Epson, Google, Microsoft, Kopin and Vuzix are active in the segment. Standalone VR headsets from companies such as Oculus and HTC aimed for the consumer market are gaining traction and accounted for a large share of the total 1.5 million devices shipped in the segment during 2018. Berg Insight forecasts that shipments of smart glasses and head-mounted displays will reach 11.9 million units by 2023.
Annual shipments of medical devices and mobile telecare/mPERS devices are forecasted to grow from 1.8 million devices in 2018 to 6.9 million devices in 2023. The segment includes wearables such as cardiac rhythm management devices, ECG monitors and mobile telecare devices.
Finally, annual shipments of wearables not covered by the above product categories such as authentication and gestures devices, smart rings, wrist-worn computers and scanners, smart jewellery and connected prosthetics are predicted to grow from 3.0 million units in 2018 to reach 13.0 million units in 2023.
Contributed by IoT Business News