Wearables

The global wearables market is expected to grow 9.4% in 2020, reaching 368.2 million shipments.
In IDTechEx's new report, Cardiovascular Disease 2020-2030, wearables such as smart clothing and electronic skin patches are covered extensively, and forecasts the wearable market to reach $19.7 billion by 2024.
The global Wearable Injector market is anticipated to rise at a considerable rate during the forecast period, between 2020 and 2027.
The Global Wearable Technology Market was valued at USD 27.91 billion in 2019 and is expected to reach USD 74.03 billion by 2025, at a CAGR of 17.65% over the forecast period 2020-2025.
The Pet Wearables Market is anticipated to grow at a CAGR of 7.5% during the forecast period.
The wearable medical devices market is poised to grow by USD 10.24 billion during 2020-2024, progressing at a CAGR of over 10% during the forecast period.
Global Wearable AI Market was valued at USD 10.93 Billion in 2018 and is projected to reach USD 82.31 Billion by 2026, growing at a CAGR of 28.56% from 2019 to 2026.
The wearable technology market is poised to grow by USD 35.48 bn during 2020-2024, progressing at a CAGR of 13% during the forecast period.
The global wearable robotic exoskeleton market is forecasted to grow to more than $4 billion by the end of 2026 and record annual growth of 43.1 per cent during the forecast period of 2019-2026.
Industry leaders expect the wearable technology market to explode in the next 10 years and is expected to reach a value of $150 billion by 2027.
A Research and Markets report predicts massive growth in the industrial wearables market, with annual growth expected to be 50.2% between 2019 and 2024.
Growth within the wearable devices market is primarily being powered by sales of smartwatches - shipments of smartwatches worldwide are forecast to surpass 100 million in 2020.
Global Wearable Injectors Market will exponentially grow further by 2023, registering approximately 15.2% CAGR throughout the forecast period (2018-2023).
The global market for wearables is on track to ship 305.2 million units in 2019, up 71.4% from the 178.0 million units shipped in 2018>From there, total volumes will grow to 489.1 million units in 2023, resulting in a compound annual growth rate of 22.4%.
Up to 27 percent of Americans expect to own a wearable device by 2024, with 13.8% of the US aged 12 to 100 years owning a wrist-worn wearable in 2018.
Global market revenues for wearable devices are forecasted to grow by leaps and bounds, of over 20% annually, to reach US$100 billion by 2024.
End-user spending on wearable devices is expected to reach $42 billion this year, with $16.2 billion of that amount on smartwatches.
Global Wearable Technology Market was valued at USD 26.13 Billion in 2018 and is projected to reach USD 63.53 Billion by 2026, growing at a CAGR of 11.76% from 2019 to 2026.
The global shipments of wearable equipment would reach 214 million with an annual growth rate of 20.3% by 2020.
In 2018, the wearable tech market was worth approximately $23bn and is likely to grow to $54bn by 2023, witnessing a compound annual growth rate of 19%.
The number of connected wearable devices worldwide has more than doubled in the space of three years, increasing from 325 million in 2016 to 722 million in 2019: The number of devices is forecast to reach more than one billion by 2022.
Worldwide shipments of wearable devices will reach 225 million in 2019, an increase of 25.8 percent from 2018.

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Last updated: 29 March 2020