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Global wearable device spending will reach $81.5 billion in 2021 From Gartner

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According to Gartner’s latest forecast, by 2021, the global end-user spending on wearable devices will reach US $81.5 billion, an increase of 18.1% compared with us $69 billion in 2020. The increase of teleworking and the popularity of covid-19 are important factors driving the market growth.

In 2020, ear wear equipment expenditure increased by 124%, totalling $32.7 billion, and is expected to reach $39.2 billion by 2021. Much of this growth can be attributed to remote workers upgrading headphones for video calls and consumers buying headphones to use with smart phone devices.

Smart watch users’ spending will grow by 17.6% in 2020 to reach $21.8 billion. Driven by the entry of new users into the market, the growth of smart watches will continue until 2021, as new processor technology and improvements in solid-state batteries will extend battery life and shorten charging time.

Gartner’s latest forecast for wearable electronic devices adds smart patches as a new category, which is expected to grow significantly in 2021. Smart patches are non-invasive health monitoring sensors that adhere to the skin surface to measure temperature, heart rate, blood glucose and other vital statistics. It can also remotely manage drugs, such as insulin in patients with diabetes.

Sensor innovation and miniaturization drive market growth

Device manufacturers focus on improving sensor accuracy, and the performance gap between medical grade and non-medical grade wearable devices is narrowing, thus driving the growth of a variety of wearable device categories.

The progress of miniaturization has also become a factor in the wearable device market. Gartner predicts that by 2024, miniaturization will be able to make 10% of all wearable technologies invisible to users. Read more: Gartner: it is estimated that the global wearable device market will reach US $42 billion in 2019. Gartner: it is estimated that the global wearable device expenditure will reach US $52 billion in 2020. Gartner: the wearable device user expenditure will reach US $52 billion in 2020. Gartner: it is estimated that the wearable device revenue will reach US $61.7 billion in 2020. Emarketer: it is estimated that the shipment volume of smart watches will be between 21 million and 34 million in 2015 Artner: Global wearable device revenue is expected to reach $28.7 billion in 2016 Gartner: it is predicted that the global fitness wearable device shipment in 2014 will be about 70 million Gartner: it is estimated that 30% of the wearable devices will be hidden in 2017 Gartner: the sales of smart watches in 2013 is not optimistic Gartner: it is estimated that the global UAV production in 2017 will reach 3 million Gartner: Q4 in 2017, global and China x86 Server market report enterprise application and weight loss market will bring the second spring for wearable devices

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