Wearables to Be 10% of All CE Retail Value by 2023, Reports Futuresource
The global wearable tech market will grow to exceed $108 billion retail value by 2023, from $50 billion in 2019, reported Futuresource Consulting Friday. It’s projecting wearables will constitute 10 percent of all consumer electronics retail value in five years.…
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“Smartwatches will remain the dominant wearables category throughout the forecast period, with the broad and varied functionality offered by these devices key to consumer appeal,” said Futuresource. “The most successful products are those that don’t rely on a single defining use case. Multi-functionality is becoming the major driver of product success, with vendors now differentiating products on user experience and utility.”