Worldwide Wearable Computing Market Gains Momentum with Shipments Reaching 19.2 Million in 2014 and Climbing to Nearly 112 Million in 2018, Says IDC
FRAMINGHAM, Mass.--(BUSINESS WIRE)--The worldwide wearable computing market (commonly referred to as
"wearables") is finally expanding beyond early adopter status to more
functional and stylish lifestyle accessories that are making their way
onto the pages of GQ and Shape as well as Computerworld and Wired.
According to new research from International Data Corporation (IDC),
wearables took a huge step forward over the past year and shipment
volumes will exceed 19 million units in 2014, more than tripling last
year's sales. From there, the global market will swell to 111.9 million
units in 2018, resulting in a CAGR of 78.4%.
“Complex accessories have succeeded in drawing much-needed interest and attention to a wearables market that has had some difficulty gaining traction”
Complex accessories (e.g., Nike+ FuelBand, Jawbone UP, and Fitbit
devices) will lead the wearables market through 2018 as users continue
to embrace their simplicity and low price points. These devices are
designed to operate partially independent of any other device, but fully
operate when connected with IP-capable devices such as a smartphone,
tablet, or a PC. "Complex accessories have succeeded in drawing
much-needed interest and attention to a wearables market that has had
some difficulty gaining traction," said Ramon
Llamas, Research Manager, Mobile
Phones. "The increased buzz has prompted more vendors to announce
their intentions to enter this market. Most importantly, end-users have
warmed to their simplicity in terms of design and functionality, making
their value easy to understand and use."
Another segment of the market, smart accessories, will gain momentum
through the forecast period and surpass complex accessory shipments by
2018. Similar to complex accessories, with their dependence on
connecting with IP-capable devices, smart accessories allow users to add
third-party applications that boost features and functions for a more
robust experience. While not quite ready for prime time, the smart
accessory market will continue to mature as users better understand and
accept the value proposition and vendors refine their offerings.
The third segment of the wearables market is smart wearables, such as
Google Glass, which function with full autonomy, independent of any
other device except to access the Internet. To succeed, smart wearable
vendors must convince users to shift to a new user experience while
offering them a robust selection of third-party applications. It is not
a question of "if," but "when" wearables as a whole will extend into the
enterprise.
Finally, according to the latest IDC ConsumerScape 360° survey of more
than 50,000 consumers in 26 countries, Samsung, which has already
unveiled multiple wearable computing devices, was identified as the most
trusted brand for wearables, ahead of Apple, Sony, and Google.
The IDC study, Worldwide
Wearable Computing Device 2014-2018 Forecast and Analysis (IDC
#247318) presents the five-year forecast for the worldwide wearable
computing devices market by product category. The worldwide wearable
computing devices market will reach a total of 19.2 million units in
2014, driven primarily by complex accessories such as Fitbit devices,
Jawbone's UP bracelet, and Nike+ FuelBand. Smart accessories, such as
the Pebble smartwatch, Samsung GALAXY Gear, and the Sony SmartWatch,
will also take a giant step forward, but their value proposition has yet
to be completely clarified. Finally, smart wearables like Google Glass
have yet to reach millions of units shipped. To this end, IDC believes
that the runway for smart wearables is long, and it will not be until
2016 that we begin to see millions of units shipping.
About IDC
International Data Corporation (IDC) is the premier global provider of
market intelligence, advisory services, and events for the information
technology, telecommunications, and consumer technology markets. IDC
helps IT professionals, business executives, and the investment
community to make fact-based decisions on technology purchases and
business strategy. More than 1,000 IDC analysts provide global,
regional, and local expertise on technology and industry opportunities
and trends in over 110 countries. In 2014, IDC celebrates its 50th
anniversary of providing strategic insights to help clients achieve
their key business objectives. IDC is a subsidiary of IDG,
the world's leading technology media, research, and events company. You
can learn more about IDC by visiting www.idc.com.
All product and company names may be trademarks or registered trademarks
of their respective holders.
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