The wearables market kept growing in Q1 2015 as new vendors, including Apple, prepared to enter the market. According to the latest figures from the International Data Corporation (IDC), 72.1 million wearable devices will be shipped in 2015, a 173.3% increase from last year’s 26.4 million units. Moreover, shipment volumes are expected to grow at a CAGR of 42.6% over the five-year forecast period, eventually reaching 155.7 million units shipped in 2019.
“The demand for basic wearables, those that do not run third party apps, has been absolutely astounding,” said Jitesh Ubrani, senior research analyst, Worldwide Mobile Device Trackers. “Vendors like Fitbit and Xiaomi have helped propel the market with their sub-$100 bands, and IDC expects this momentum will continue throughout 2015.”
IDC expects smart watches, which can run third party apps, to take the lead in 2016, opening up a slew of opportunities for vendors, app developers, and accessory makers.
“Growth in the smart wearables market points to an emerging battleground among competing platforms,” said Ramon Llamas, research manager, Wearables. “Android Wear, Tizen, and WatchOS are moving ahead with improved user interfaces, user experiences, and applications. These will raise the expectations of what a smart wearable can do, and each platform is vying for best-in-class status. We’re not there yet, but we’re seeing the building blocks of what is to come.”
