A new study from Juniper Research has found that the wearables market has begun to shift away from wrist-based devices such as smartwatches and fitness trackers, with other device categories forecast to grow much faster.
he new research, Smart Wearables: Competitor Strategies, Opportunities & Forecasts 2018-2022, forecasts that the total smart wearables market will reach nearly 350 million devices shipped by 2020. The market is currently dominated by smartwatches and activity trackers, with 137 million devices expected to be shipped in 2018. However, growth will slow, shipping almost 190 million by 2020 as the lifecycle of devices lengthens as fewer new features and a software focus delay repeat purchases.
Juniper expects connected clothing to accelerate in the coming years, thanks to developments in conductive fabric, alongside smart sportswear from companies like Sensoria, Lumo and Under Armour. This sector will ship over 7 million by 2020, before reaching nearly 30 million in 2022.
Juniper ranks the fastest growing wearable sectors, in terms of shipments, over the next 2 years:
1. Connected Clothing (102% CAGR)
2. Smart Glasses (98%)
3. Smart Jewellery (55%)
4. Hearables (31%)
5. Smartwatches (31%)
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