Wearable Technology Forecasts 2019-2029

This report is the culmination of IDTechEx's research in wearable technology over more than five years. Throughout this time, wearable technology has experienced a turbulent journey, with a meteoric rise in hype, accompanied by billions of dollars of funding, tens of thousands of new patents filed, hundreds of new companies, thousands of products, and tens of billions of dollars of new revenue generated. IDTechEx analysts have followed the industry throughout this period, documenting it's progress by collecting data, interviewing hundreds of companies, attending events around the world, and contributing to the ecosystem throughout. This report summarises IDTechEx's findings over this time, along with the latest conclusions and outlook. It provides detailed overviews of each product type across the broad and varied wearable technology product ecosystem, complete with historic revenue and sales volume data back to 2010 and forecasts from 2019 - 2029.

 

The conclusions from the report find that wearable technology products are thriving, with a total market worth over $50bn in 2019, having more than doubled in size since just 2014. This historic growth is driven by product types including smartwatches, continuous glucose monitoring devices (CGM), hearing aids, headphones and AR, VR & MR. The report looks at each of these sectors in detail, providing assessments and market data across all of the key players, technology and in the current themes for each product area. In addition, there have been many new types of wearable technology product in this time, ranging from new types of electronic skin patch, to smart apparel based on electronic textiles, to other new form factors for devices from footwear, to rings, to headbands. In assessing 48 separate product types, the IDTechEx report is unique in it's breadth of coverage across all wearable electronic products.

 

 

 

However, this growth comes despite many challenges across the product spectrum. At the top level, it is clear that "wearables" as a term is now well past it's period of hype that peaked in 2014-15. Many of the companies that had key products and messages during this time have disappeared or changed strategy over time. The success in smartwatches has not come from many of the early standard-bearers, but more prominently from Apple, followed by other consumer electronics players and sports electronics companies. In VR, AR and MR, some of the flagship products and companies have also failed, and despite significant growth in the industry (both in terms of percentage and in billions of dollars of new product revenue), the overall space is still far from breaking even on the huge investments that have poured in over the last decade.

 

The report addresses the broad nature that comes with the term "wearables" by addressing each sub-sector within this space in a dedicated chapter. These chapters, in their own right, have been developed as individual, complete research reports covering each of these sectors in the space. Using this huge body of work, "Wearable Technology Forecasts 2019-2029" summarises the latest and critical information about these sectors into individual chapters, complete with commentaries on industry trends (e.g. with funding, IP, and company activities), profiles of key players and full forecast data for each of the 48 product types identified.

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