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In 2029, global shipments of wearables, including eyewear, smartwatches, smart wristbands, and other devices, were forecast to reach million units, marking a continuous growth since 2022.

Wearables

The wearable market broadly encompasses all smart consumer electronics devices which can be worn on the body or clothing. Some of the most popular wearable devices are smartwatches, fitness trackers, and head-mounted displays such as smart glasses. These devices often track users’ biometric data, allow them to access apps, and provide calculation or feedback regarding their activities. Fitness trackers are particularly popular, many of which use GPS and heart rate monitors to track the health of their users as they exercise. Partially thanks to the release of the Apple Watch in 2015, smartwatches have followed fitness trackers to become a massively popular staple of the consumer electronics industry.

Internet of Things

The internet of things (IoT) refers to the growing share of electronic devices that are manufactured with internet capability to track data for their users and provide greater coordination between devices. The number of IoT-connected devices is projected to grow each year, with internet connectivity becoming an increasingly popular feature in household appliances, consumer electronics, and automotive vehicles.