Wearables Market Takes A Hit
Growth in wearable electronic device shipments could slip below 10 percent for the first time in 2018 before returning to double-digit percentages each year from 2019 to 2022, according to market research outfit IDC.
The market watcher says that shipments of wearables, including smart watches, wristbands and other devices, will grow to 122.6 million units this year, up 6.2pc from 115.4 million last year – and hit 190 million units in 2011.
The company blames this year’s lower growth on continued softness in sales of basic wearables that do not run third-party applications.
“The slowdown is a sign that this is a market in transition instead of a market in slowdown,” said Ramon Llamas, research director for IDC’s Wearables team.
He said vendors are now moving beyond first-generation devices, bringing together ecosystems of partners and applications.
“The wearables of tomorrow will play a more prominent role in communication, digital health care, home IoT and enterprise productivity that will make last year’s wearables look quaint,” Llamas predicted.