Global wearable market will continue to grow as COVID-19 spreads health awareness: Report

by Ashish

The spread of the Corona Virus made people more concerned about their health and as per the recent data shared by Gartner, the global wearable market in 2020 has been increased tremendously and will continue to grow in 2021 and 2022 as well.

As per the report of the research firm, the global sales of wearables in 2020 will be 69 billion US dollars which is an increase of a huge 49% from the last year. Looking at the current market trend this flow will continue for two more years and the analysts from Gartner predicts that the sales of the wearable devices will reach 81.5 billion US dollars, an increase of 18.1% over 2020, and may also reach 93.9 billion US dollars in 2022.

Talking about the earbuds the sales for them is also increased during this period such as the AirPods sales have grown by 124% in 2020 reaching 32.7 billion USD and further, it is expected to reach 39.2 billion units in 2021.

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Meanwhile, in the smartwatch segment, the consumer spendings for the Apple Watch were increased by 17.6 billion USD and predicted to reach up to 25.8 billion USD in 2021. The accurate health measurements and the reliability of the Apple Watch have attracted more customers.

The wristband trackers sales have not changed much as compared to the previous years sales, while this segment of wearable has encountered a 2.3% decline in 2020 to 4.98 billion USD and the research firm further claims that the streak of declining sale will continue in the coming days as well.

In addition, the analysts also suspect that as the accuracy in the wearable devices will improve and the gap with medical-grade hardware narrows, the technological progress will further increase the development of the industry in the coming years.

(Via)

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