The wearable electronics market will grow steadily in the coming years. In any case, such a forecast is given by specialists of the analytical company IDC. They estimate that this year the volume of shipments of wearable electronic devices will reach 396.0 million units, which is 14.5% more than last year, when 345.9 million devices were shipped.
Analysts expect the market to grow by an average of 12.4% per year from 2020 to 2024. If that forecast is correct, 637.1 million devices will be shipped in 2024.
Throughout the forecast period, smart headphones will remain the largest segment of the market. In 2020, 234.3 million units will be shipped, which corresponds to 59.2% of the market. In 2024, smart headphones will account for 62.8% of shipments, and in quantitative terms it will be 396.6 million units. In terms of average annual growth, this category will outstrip the market as a whole. Analysts predict an indicator of 14.1%
Smart watches will keep the second place. Now their share is 23.1%, and by 2024 it will grow to 24.7%. Bracelets are in third place. This year, 67.7 million units will be shipped, which corresponds to 17.1% of the market. However, in the coming years, the share of bracelets will decrease to 11.8%. In 2024, 74.4 million units of this category are projected to ship. The total share of wearable electronic devices in all other categories will remain small (less than 1%).