Connected Wearables to Reach 168 mn by 2019

Connected-Wearables-to-Reach-168-mn-by-2019Connected wearables shipments is expected to reach 168.2 million by 2019 at a CAGR of 54.7 percent says Berg Insight.

In 2014, connected wearables shipment has reached 19 million units in 2014 as per Berg Insight and it has entered a strong growth phase that will last for many years to come.

Fitness & activity trackers is the largest product category and accounts for a majority of today’s shipments. Decreasing prices and new form factors will enable fitness & activity trackers to reach shipments of 42.0 million units in 2019.

The smartwatch category has also started to reach significant volumes and is predicted to become the largest device category reaching shipments of 90 million devices in 2019, up from 5 million units in 2014.

Limited availability, high prices and privacy concerns have so far resulted in that sales of smart glasses have been modest. Promising use cases in professional markets as well as in niche consumer segments will enable smart glasses to become the third largest category of connected wearables and reach shipments of 11.0 million devices in 2019, up from only 0.03 million units in 2014.

Connected wearables such as cardiac rhythm management devices, ECG monitors and mobile Personal Emergency Response Systems (mPERS) are already common in the medical & healthcare and people monitoring and safety segments.

Annual shipments of medical devices and people monitoring and safety devices are forecasted to grow to 7.1 million and 3.1 million at the end of the forecast period respectively. New product innovation is also anticipated in the next coming years that will result in successful products not known today and annual shipments of these are predicted to grow at a CAGR of 184.8 percent from 0.08 million units in 2014 to reach 15 million units in 2019.

Bluetooth will remain the primary connectivity option in consumer centric wearables throughout the forecast period and smartphones will act as the principal hub for remote connectivity.

The number of active cellular network connections from wearables is projected to grow from 0.5 million in 2014 to reach 26.9 million connections in 2019. The growth is driven by increasing adoption of cellular in the smartwatch category and the high adoption in the people monitoring & safety segment in which cellular connectivity already is the main technology for many types of devices.

The most common connectivity option for wearable medical devices will be low power NFC technologies and Bluetooth which enable remote connectivity via medical monitoring system hubs. BYOD will have an increasing impact on the connected medical device category, especially for patient-driven models of connected care.

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