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Belgium: revenue growth of wearables 2018-2024

According to the Digital Market Outlook, revenue generated by wearables in Belgium increased by approximately 4.2% in 2019. After a peak value in 2020, revenue growth is projected to reach 4.1% in 2024, roughly the same as in 2019.

Revenue growth of wearables in Belgium from 2018 to 2024

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Supplementary notes

The wearables segment includes devices that are explicitly intended for fitness. In particular, fitness wristwear which is equipped with sensors and activity trackers that measure and analyze the physical activity and body functions of the wearer (e.g. number of steps taken, movement, pulse and temperature). Well-known examples of fitness wearables are the fitness bands from fitbit, Jawbone, the Chinese manufacturer Xiaomi, and the Nike Fuelband. Also included are smart clothes like smart socks from Sensorias. These are equipped with sensors and Bluetooth which allows to track distance, speed, calories, altitude, cadence, foot landing of the wearer. In addition, eyewear is considered in the Wearables segment. An example is the smart glass from Solos, which measure heart rate, speed, distance and micro-displays this data in the right-hand corner of the cyclist’s vision. Smartwatches are not considered here as dedicated fitness equipment; therefore they are excluded from the market segment. However, in the future it is expected that there will be an increasing convergence of smartwatches and fitness bands.

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