Wearable Devices Drives the Market to 28.4% Growth in 2020

Worldwide shipments of wearable devices reached 153.5 million in the fourth quarter of 2020 (4Q20), a year-over-year increase of 27.2% according to new data from the International Data Corporation (IDCWorldwide Quarterly Wearable Device Tracker. Shipments for the full year grew 28.4% to 444.7 million units. While the holiday quarter was largely driven by new devices and lower prices, the broader trend for 2020 was the surge in consumer spending for electronics as disposable income was reallocated from leisure activities during the pandemic.

Worldwide shipments of wearable devices reached 153.5 million in Q4 2020, a year-over-year increase of 27.2% according to the IDC Worldwide Quarterly Wearable Device Tracker.

“While the shift in spending along with new products and typical seasonality were at play during the fourth quarter, the pandemic has also been good for the market as it has put health and fitness at the forefront of many consumers’ minds,” said Jitesh Ubrani, research manager for IDC Mobile Device Trackers. “In-home fitness programs are quickly becoming a crucial component of the wearables offering for many companies. Beyond that, the proliferation of health sensors such as skin temperature, ECG, and heart rate tracking is allowing users and health professionals to better understand the onset and tracking of diseases.”

However, growth has not been even across the wearables market as some companies and products were affected by the global semiconductor shortage. Most notably, wristbands declined 17.8% during the quarter and accounted for just 11.5% of all wearable devices shipped. Hearables* were the largest category of devices with 64.2% share of shipments, followed by watches with 24.1% share.

“2020 was the year that hearables became the must-have device,” said Ramon T. Llamas, research director for IDC’s Wearables Team. “Hearables provided a new degree of privacy, particularly during home quarantine but also while out in public. Meeting that demand was a long list of vendors with an equally long list of devices, spanning the range of feature sets and price points. Underpinning the hearables market was a constantly shifting competitive landscape, with companies slowly gaining a foothold in the market (Amazon and its Echo Buds and Frames), vendors introducing new form factors (Apple and AirPods Max), and new features making their way down the price curve, including automatic noise cancelling and voice assistant capability.”

About IDC Trackers

IDC Tracker products provide accurate and timely market size, vendor share, and forecasts for hundreds of technology markets from more than 100 countries around the globe. Using proprietary tools and research processes, IDC’s Trackers are updated on a semiannual, quarterly, and monthly basis. Tracker results are delivered to clients in user-friendly Excel deliverables and on-line query tools.

For more information about IDC’s Worldwide Quarterly Wearable Device Tracker, please contact Kathy Nagamine at 650-350-6423 or knagamine@idc.com.

Click here to learn about IDC’s full suite of data products and how you can leverage them to grow your business.

About IDC

International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC’s analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world’s leading tech media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights: http://bit.ly/IDCBlog_Subscribe.

Total
4
Shares
Previous Post
LactApp Co-Founder

FemTech Founder: An Interview with LactApp Co-Founder, Maria Berruezo

Next Post

mHealth Apps Market Size to Reach USD 101,550 Million by 2026

Related Posts

Subscribe to our newsletter!

Subscribe to our newsletter!