Wearables, as the name suggests, are gadgets that can be worn. These devices usually have smart sensors and are connected to the internet for data exchange. Pulsar’s Calculator Wristwatch can be considered as the first consumer wearable device to achieve global success. In 2000, the first Bluetooth headset was sold and in 2004, the first GoPro was launched. Google Glass, released in 2013, was the first voice-operated optical head-mounted display product to combine hands-free internet access with augmented reality and the ability to capture images. The wearable market is promising, as the number of connected wearable devices worldwide is expected to grow to over 1.1 billion in 2022, while the telecom technology changes from 4G to 5G.
Businesses, military forces and medical professionals have been using wearable technology for decades, but the private consumer market has only recently started to feature items such as smart glasses, smart watches, hearables, fitness and health trackers, smart jewelry and smart clothing. The most successful wearable devices on the market right now are smart watches and health and fitness tracker with earwear projected to become the most dominant category in the future. In fact, more than 270 million units of earwear are forecast to be shipped in 2023, much more than any other wearable category. Wristwear (watches and wristbands) are projected to reach almost 180 million units by that time.
The leading smart watch vendors are Apple, Fitbit, Samsung and Garmin with Apple holding the largest share of the market. Despite its strong position in the smart watch market, Apple does not enjoy the same stable dominance in the overall wearable industry. With a strong presence in the health and fitness wearable market, Fitbit had been a leader in the wearable industry till 2017, when it began to be overtaken, first by Apple, then by the Chinese company Xiaomi, whose Mi Band fitness tracker has been witnessing great success. In the first three quarters of 2019 wearable device shipments amounted to about 150 million units.
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In the following 5 chapters, you will quickly find the 35 most important statistics relating to "Wearable technology".