IDTechEx Report Sees Wearables Becoming $150 Billion Market by 2026
Wearable devices of various types will be a $30 billion global market this year, with about a third of that “coming from newly popular products including smartwatches and fitness trackers,” IDTechEx said in a Thursday report. Though the research firm…
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sees the market growing to more than $150 billion by 2026, such growth won’t come without “shake-ups in several prominent sectors, with commoditization hitting hard, and product form factors changing rapidly,” it said. “Fueled by a frenzy of hype, funding and global interest, wearable technology was catapulted to the top of the agenda for companies spanning the entire value chain and world.” Those investments “manifested” themselves in hundreds of new products, it said. “However, the fickle nature of hype is beginning to show, and many companies are now progressing beyond discussing ‘wearables’ to focus on the detailed and varied sub-sectors.”