Wearables Units to Track 8.9% CAGR, Reaching 279 Million by 2023, Says IDC
“Continued proliferation” of smartwatches, ear-worn devices and wristbands will help fuel a 15.3 percent increase in global wearables shipments this year to 198.5 million units, said IDC Monday. It forecasts an 8.9 percent compound annual growth rate to 279 million…
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units by the end of 2023. “The rise of smart assistants on wearables, both wrist-worn and ear-worn, is a trend worth watching,” said IDC. "Though still in its infancy, the integration of these assistants with wearables opens up new use cases,” it said. Smartwatches were 44.2 percent of global wearables unit shipments in 2018, and IDC forecasts its share will reach 47.1 percent in 2023. “Smartwatches from Apple will undoubtedly lead the way,” and will be 27.5 percent of the smartwatch market in 2023, it said. CAGR of 0.7 percent and declining average selling prices will be dominant trends in wristbands, said IDC. “The market is already dominated by Chinese brands such as Huawei and Xiaomi, and IDC expects this to continue.”