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Wearable Tech Market To Be Worth $34 Billion By 2020
CCS Insight has updated its outlook on the future of wearable tech, indicating that 411 million smart wearable devices, worth a staggering $34 billion, will be sold in 2020.The analyst claims the industry will hit $14 billion this year, with wrist-based devices – such as smartwatches and fitness trackers – continuing to dominate. Its forecast states half of all wearable tech sales over the next 12 months will be from these genres, with smartwatches making up 50% of the estimated 60 million shipments.Back in mid-2015 CCS claimed that around 20 million Apple Watches would be sold in the calendar year but it is now stating that just over 9 million Cupertino smartwatches were sold before 2016 arrived. That’s a number that gives it, according to the report, a 41 percent market share.Earlier this month Canalys estimated that Apple shipped 12 million smartwatches in 2015 – a figure it claimed was worth two-thirds of the total smartwatch market. Gartner had stated a week earlier that around 30 million smartwatches were shifted in 2015. So that’s estimates of 18, 22 and 30 million from three of the biggest analysts, proving that it’s not an exact science.