Gartner Research

Forecast Analysis: Wearable Electronic Devices, Worldwide

Published: 24 October 2019

Summary

The global wearable device market is forecast to be worth more than $87 billion in 2023. TSPs should use this document to identify opportunities and to compete effectively for share and value in smartwatches, head-mounted displays, ear-worn devices, wristbands and smart garments.

Included in Full Research

  • Forecast Assumptions
  • Market Impacts
  • Notable Changes
  • Influencing Factor: Sensor Accuracy
    • Forecast Assumption: By 2023, device makers will focus on offering smaller, clinical-grade sensors for health wearables to increase monitoring accuracy by 20%.
  • Influencing Factor: Miniaturization and Battery Life
    • Forecast Assumption: Miniaturizing capabilities will advance to the point that 10% of all wearable technologies will become unobtrusive to the user by 2023.
  • Influencing Factor: Artificial Intelligence
    • Forecast Assumption: Artificial intelligence (AI) applications will deliver feedback and services for wearables in more than half of the business-to-business-to-consumer B2B2C applications by 2023.
  • Influencing Factor: Data Security and Privacy
    • Forecast Assumption: By 2023, global wearable technology makers will be fully compliant with personal data security rules.
  • Influencing Factor: Pricing
    • Forecast Assumption: The introduction of lower-cost smartwatches will reduce the ASP of smartwatches by 2.1%.
    • Forecast Assumption: By 2023, the ASP of HMDs will increase by 5.3%, as better content will demand better technology.
    • Forecast Assumption: More competitive suppliers and falling manufacturing costs in wristbands will result in ASPs declining from $79.45 in 2019 to $51.00 in 2023.

Access Research

Already a Gartner client?

Just stopping by?

To view this research and much more, become a client.

Speak with a Gartner specialist to learn how you can access peer and practitioner research backed by proprietary data, insights, advice and tools to help you achieve stronger performance.

By clicking the "Continue" button, you are agreeing to the Gartner Terms of Use and Privacy Policy.

Gartner research: Trusted insight for executives and their teams

What is Gartner research?

Gartner research, which includes in-depth proprietary studies, peer and industry best practices, trend analysis and quantitative modeling, enables us to offer innovative approaches that can help you drive stronger, more sustainable business performance.

Gartner research is unique, thanks to:

Independence and objectivity

Our independence as a research firm enables our experts to provide unbiased advice you can trust.

Actionable insights

Not only is Gartner research unbiased, it also contains key take-aways and recommendations for impactful next steps.

Proprietary methodologies

Our research practices and procedures distill large volumes of data into clear, precise recommendations.

Gartner research is just one of our many offerings.

We provide actionable, objective insight to help organizations make smarter, faster decisions to stay ahead of disruption and accelerate growth.

Tap into our experts

We offer one-on-one guidance tailored to your mission-critical priorities.

Pick the right tools and providers

We work with you to select the best-fit providers and tools, so you avoid the costly repercussions of a poor decision.

Create a network

Connect directly with peers to discuss common issues and initiatives and accelerate, validate and solidify your strategy.

Gartner Tech Growth & Innovation Conference

Join with the world's leading IT and business executives to get an update on accelerating growth in a new era of transformation and technology trends.

©2022 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner is a registered trademark of Gartner, Inc. and its affiliates. This publication may not be reproduced or distributed in any form without Gartner’s prior written permission. It consists of the opinions of Gartner’s research organization, which should not be construed as statements of fact. While the information contained in this publication has been obtained from sources believed to be reliable, Gartner disclaims all warranties as to the accuracy, completeness or adequacy of such information. Although Gartner research may address legal and financial issues, Gartner does not provide legal or investment advice and its research should not be construed or used as such. Your access and use of this publication are governed by Gartner’s Usage Policy. Gartner prides itself on its reputation for independence and objectivity. Its research is produced independently by its research organization without input or influence from any third party. For further information, see Guiding Principles on Independence and Objectivity.