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.