This year, the research firm predicts vendors shipping a total of 121.7M wearable devices, marking a 16.6% increase from the 104.4M units shipped in 2016.
Device shipments grew 10.3% year over year to hit 26.3 million units during the second quarter of 2017; smartwatches grew 60.9%.
The wearables market is poised to reach a total of 240.1 million units shipped in 2021, resulting in a five-year CAGR of 18.2%.
Worldwide wearable device shipments will grow from 102.4 million in 2016 to 237.5 million in 2021, representing a five-year CAGR of 18.3%.
In Q1, we saw a number of new fitness trackers and smartwatches introduced, price reductions, and greater participation within emerging wearables categories.
During the entire 2015, vendors shipped a total of 78.1M units, 171.6% more than the previous year; top vendors are Fitbit, Apple, Xiaomi, Samsung and Garmin.
Next year, the research firm forecasts, wearable device shipments will reach 111.1 million units, for a 44 percent increase over 2015.
Overall, 21 million wearable devices have been shipped in Q3, compared to 7.1 million units shipped in the same quarter last year.
A growing list of vendors, a proliferation of devices, experiences, and price points, and steady consumer adoption will fuel the growth for wearable devices.
In the period between April and June, the iPhone maker has sold 3.6 million units of the Apple Watch, representing 20 percent of all wearables shipped.