According to the scale of the wearable device market in 2017, the basic watch and the smart watch of the cellular network have become the leading driving force of the market. The highest compound annual growth rate from 2017 to 2021 will be the earphone, the year compound. The growth rate is 58.5%.
According to IDC, the number of wearable devices shipped in 2017 is 113.2 million, and the average annual compound growth rate will reach 18.4% in the next four years, reaching 222.3 million in 2021. The driving force for this growth will be the fashion brand watch (or basic watch) and the smart watch with built-in cellular network. However, the fitness bracelet will not change much in the next four years and the manufacturers will shift their focus to The reason for other wearable devices is that they are not prone to obvious growth.
Figure, 2017 and 2021 wearable device market shipment forecast
Although sports and fitness bracelets (eg, Fitbit Alta HR and Garmin Vivofit 3) are expected to reach 45 million shipments in 2017 with a market share of 39.8%, IDC predicts growth rates for this type in the next few years. There is only one digit left, and by 2021, the market share is 21.5%.
Conversely, with Android Wear's smart watches and Apple Watches, shipments will reach 71.5 million by 2021, and the market share will rise from 27.9% in 2017 to 32.1% in 2021. The main reason is that starting from 2017, more and more manufacturers will launch smart watches with built-in cellular networks, which will increase their attractiveness and make them more cost-effective as the technology continues to enter in the next few years. So that more mainstream consumers are also starting to buy smart watches.
In addition, hybrid smart watches or basic watches like Nokia Steel HR and Mondaine Smart HelveTIca No.1 will have the largest market for wearable devices by 2021, with an astonishing 78 million shipments and a market share of 35.1%.
Manufacturers have to move from bracelets to watch sales, which is a challenge for non-fashion brands. Because it is difficult to convince consumers to spend more money on watches. However, for fashion brand owners, due to the problem of customer attributes, it seems to be able to get the eyes of their ethnic groups. So basic or hybrid watches will be the market segment for the largest wearable devices.
Another noteworthy wearable device is smart clothing. Today, Google and Levi's are collaborating to produce a smart denim jacket and sports brand Under Armour and Adidas to bring technology into sportswear. Therefore, IDC believes that in the next four years, the smart clothing market will grow from 2.1 million in 2017 to 11.5 million in 2020, with an average annual compound growth rate of 48.7%.
The wearable device with the highest compound annual growth rate from 2017 to 2021 is the earwear (Earwear). Due to Apple's strong launch of AirPods and Google's Pixel Buds, the market is expected to grow from 1.7 million in 2017 to 10.6 million in 2021, with a compound annual growth rate of 58.5%.
IDC believes that traditional headsets will be replaced by smart headsets with fitness tracking, audio enhancement or voice assistant capabilities. It will make it quite special, so it will perform well in 2018.
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