Wearables

• The wearable bands market will see shipments of 200 million units and the TWS devices shipments is likely to exceed 350 million units next year and the global smart accessories market is projected to grow at a healthy rate of 32% in 2020.
• Having previously more than doubled in the space of three years, - increasing from 325 million in 2016 to 722 million in 2019 - the number of wearable devices worn worldwide is forecast to reach more than one billion by 2022.
• Global shipments of wearable devices are expected to total 396.0 million units in 2020.
• Nearly half of Americans own one and, by 2022, the U.S. wearables market is expected to grow to $27 billion with 137 million units sold.
• The market for wearable medical devices is expected to reach more than $27 million by 2023.
• The global wearable device market will be worth more than US$ 87 billion in 2023 and smaller, clinical-grade sensors for health wearables will increase monitoring accuracy, with miniaturising capabilities developing to the point that 10% of all wearables will be unobtrusive by 2023.
• The use of wearable devices by European consumers is expected to grow significantly in the coming years.
• The global internet of things (IoT) enabled industrial wearables market is poised to grow by $2.29 billion during 2020-2024, progressing at a CAGR of 14% during the forecast period.
• The healthcare wearables market, including health trackers and remote monitoring devices, is set to reach USD 60 billion by 2023.
• The wearable technology market size has the potential to grow by USD 35.48 Billion during 2020-2040..
• Wearable devices will help mobile operators drive over $13 Billion in service revenue by the end of 2020, following a CAGR of nearly 32% between 2016 and 2020.
• Wearable devices will help wireless carriers drive over $71 Billion in additional service revenue by the end of 2020, following a CAGR of 95% between 2014 and 2020.
• The medical wearables market size is projected to reach USD 19.5 billion by 2025 from USD 7.4 billion in 2020, at a CAGR of 21.4% during the forecast period.
• The total number of wearable users that were connected to 4G network in 2017 to be 526 million, while the market is expected to grow by 89 million by 2022 connecting over 900 million.
• Global Medical Wearables Market is valued approximately USD 6.1 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 21.4% over the forecast period 2020-2027.
• Wearable Computing Market is expected to rise to an estimated value of USD 103.80 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026.
• The market revenue from wearable devices and services has constantly grown over the last five years from €13 billion to €23.1 billion and is expected to increase by an additional €9 billion by 2020.
• An AI-enabled wearable device can help monitor asthmatic symptoms and predict triggers.
• The wearable patch market is poised to grow by USD 5.96 bn during 2020-2024, progressing at a CAGR of 22% during the forecast period.
• As contactless technology becomes nearly ubiquitous and consumer adoption grows, the market for wearable payment devices is set to grow to $1,121 billion by 2026.
• The global Wearable Adhesives market is valued at USD 296 million in 2020 is expected to reach USD 734.1 million by the end of 2026, growing at a CAGR of 13.7% during 2021-2026.
• Fitness wearables represent the largest segment of the wearables market, reaching EUR 13 billion in 2018, and are expected to reach 5.2% annual growth through 2023.

Last updated: 22 November 2020