IDTechEx’s latest report on the topic has found that wearable technology products will be worth over $50 billion in 2019. In fact, the total market size has doubled in size since 2014, placing wearables as one of the most consistently successful markets around consumer electronics in the last five years.
However, in 2019 headlines have been less frequent, investment has become more focused, and generally the hype around wearables has all but faded. IDTechEx’s most comprehensive study of wearable technology looks at how this sector has evolved over the last few years, and how things will change in the coming decade. The report “Wearable Technology Forecasts 2019-2029” can be found at www.IDTechEx.com/wearable.
The report describes how the growth in the last five years has been driven by several key product types including smartwatches, continuous glucose monitoring devices (CGM), hearing aids, headphones and AR, VR & MR. The report looks at each of these sectors in detail, providing assessments and market data across all of the key players, technology, and in the current themes for each product area.
In addition, there have been many new types of wearable technology product in this time, ranging from new types of electronic skin patch, to smart apparel based on electronic textiles, to other new form factors for devices from footwear, to rings, to headbands. In assessing 48 separate product types, the IDTechEx report is unique in its breadth of coverage across all wearable electronic products.
The report finds that wearable technology products continue to see excellent sustained growth, generating billions of dollars of new revenue each year.