Wearables

• [New] North and South America are the most extensive and fastest-growing markets, respectively, and that wearable technology data as a managed service will reach USD319m globally by 2026.
• [New] China's laws introduce vulnerabilities for software and Apple and Samsung mobile device applications, such as TikTok, and fitness wearables and other devices that can provide location and other data to the Chinese government.
• Fitbit is equipping some 1,000 NASA employees with wearables as part of a pilot program which requires a daily log - in using various health metrics which will be tracked by the space agency.
• The use of technology over the coming years is expected to rapidly grow, with employers predicted to include health and wellbeing apps, virtual GPs and wearable devices, as part of their wellbeing strategies.
• In the coming years, people will increasingly use wearable devices to track data - including activity data and heartbeat and temperature measurements.
• Global spending on wearables is expected to reach USD 81.5 billion in 2021 and USD 93.8 billion in 2022, driven by the rise in remote working and people getting more interested in monitoring their health.
• Heart rate data from Google's app will not be as comprehensive as the types of readings delivered by smartwatches and other wearables.
• Heart rate data from Google's app will be less comprehensive than the types of readings someone could get from a wearable device, which can continuously monitor something like heart rate as someone goes through their daily life.
• Sales of wearable electronic devices - including smartwatches - are projected to top 73 billion by 2022 and people can buy drones with ease while kids can get hologram toys for as little as $15.49 on Amazon.
• Xiaomi's self-developed space isolation charging technology in the future will work with all kinds of wearable devices including smartwatches and bracelets.
• Sales of mobile gaming, AR, and VR devices are expected to increase at a compound annual growth rate of 65% between 2020 and 2024 and the use of wearable devices, such as watches and eyewear, will rise sharply over the next five years.
• In 2021, proactive engagement using wearables and sensors to detect patients' health at home will surge.
• Wearable devices are being used to transform healthcare across all sectors of the industry, whether in hospitals or at home, for all ages and conditions: Global market revenue could reach US$ 67.2 billion by 2030 (from US$ 10.6 billion in 2019).
• As consumers find new devices and applications they can use to protect and monitor themselves, worldwide end-user spending on wearable devices will total $81.5 billion in 2021, an 18.1% increase from $69 billion in 2020.
• In the near future, Xiaomi says, its self-developed space isolation charging technology will be able to work with smart watches, bracelets and other wearable devices.
• Smart patches have been added as a new category in the latest Gartner forecast for wearable electronic devices as they are projected to see significant growth in 2021.
• 2021 will be the year where wearables will make a giant leap with devices that monitor blood Oxygen saturation, heart rate, social distancing, and more.
• Shipments of wearables to companies are expected to reach 154 million units by 2021.
• Global Wearable Display Market was valued at USD 1.20 Billion in 2018 and is projected to reach USD 5.03 Billion by 2026, growing at a CAGR of 19.52% from 2019 to 2026.
• Sales of wearables are expected to improve in the second half of the year when devices such as the Apple Watch are updated.
• By 2025, the IoT market is expected to grow to around 75 billion connected devices-cars, home appliances and sensors, wearable computers, smart office tools, equipment in smart factories, and more besides.
• Manufacturers are now expected to ship out 27 million fewer wearables this year than previously forecast as consumers cut down on non-essential purchases and supply chains flag amid the COVID-19 pandemic.

Last updated: 07 March 2021