According to recent reports from foreign media, Gartner has just released its latest forecast for the global wearable device market. This year, the global shipment of wearable devices is expected to grow by 16.7%, covering a wide range of products such as smartwatches, wearable cameras, and head-mounted displays.
A striking image from the report shows a variety of these futuristic gadgets, vividly illustrating how they’re reshaping our daily lives. Gartner predicts that this year’s global wearable device shipments will reach approximately 3.004 million units, generating total revenue of $30.5 billion. Among these, smartwatch products, led by the Apple Watch and Samsung Gear, are expected to contribute $9.3 billion.
Even though Apple hasn’t officially disclosed the sales figures for the Apple Watch, Gartner anticipates that this year will see around 41.5 million smartwatches sold globally. These sales are projected to peak between 2019 and 2021. By 2021, the annual sales of smartwatches are predicted to surpass 81 million units, representing 16% of the total wearable market. Much of this revenue will hinge on the continued success of Apple's Apple Watch.
Despite Apple's anticipated leadership in the smartwatch market over the coming years, Gartner forecasts that Apple’s market share will decline slightly, dropping from one-third in 2016 to about one-quarter by 2021. As more competitors enter the market, companies like ASUS, Huawei, LG, Samsung, and Sony are likely to gain traction. While their individual shares may remain relatively small, collectively, these brands could account for 15% of the market by 2021.
An interesting trend highlighted by Gartner is the rapid growth in the children's smartwatch segment. These devices, primarily targeted at kids aged 2 to 13, are becoming increasingly popular among parents who prefer not to give their children smartphones. By 2021, Gartner expects children's smartwatches to make up 30% of all wearable device shipments.
In addition, traditional fashion or luxury smartwatches are also set to capture 25% of the market by 2021. These high-end products will likely rely heavily on brand appeal to attract younger consumers who value style and status.
As we look ahead, it’s clear that the wearable technology industry is evolving rapidly, with diverse product lines catering to different needs and demographics. Whether it’s kids’ watches, luxury brands, or everyday smartwatches, the market is poised for significant growth in the coming years.
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