Shipments of wearable devices will reach almost 400 million units in 2020

Shipments of wearable devices will reach almost 400 million units in 2020


International Data Corporation (IDC) has released a forecast for the global wearable device market for the current year: the industry will show quite significant growth, despite the pandemic and the difficult economic situation in General. Analysts take into account the supply of various smart watches, fitness bracelets, fully wireless submersible headphones and headsets. Last year, the volume of this market was estimated to be 345.9 million units in unit terms. This year, 14.5% growth is forecast: as a result, deliveries will be at the level of 396.0 million units. The CAGR (average annual growth rate in compound percentages) in the period up to 2024, experts believe, will be 12.4 %. As a result, deliveries will reach 637.1 million units in 2024. This year, the majority of shipments — 59.2 % — will be for various headphones and headsets. Another 23.1 % will be watches of various types, 17.1 % — bracelets for tracking physical activity. In 2024, the share of wearable audio devices will reach 62.8 %. Smart watches will occupy 24.7% of the global market, and fitness trackers — 11.8 %.
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