According to the latest research from Strategy Analytics, global wearable device sales will surge tenfold from 15 million units in 2013 to 154 million by 2018. Smartwatches, smartglasses and fitness bands, from major brands like Samsung and Nike, will be the big three device categories driving wearables growth for the next five years.
Matt Wilkins, Director at Strategy Analytics, said, "We forecast global wearable device sales for consumer users to rise tenfold from 15 million units in 2013 to 154 million in 2018. Wearables are a high-growth market that no hardware or software vendor can ignore.
We expect the United States, UK and China to be among the largest markets for wearable users worldwide in the next five years."
Neil Mawston, Executive Director at Strategy Analytics, added, "Smartwatches, smartglasses and fitness bands are the big three device categories that will be driving the vast majority of global wearables growth in the future. These are the main areas where we recommend manufacturers, retailers and mobile operators focus their wearable investments. Companies like Samsung and Qualcomm are targeting the smartwatch category, Google is prioritizing the smartglasses segment, while Nike is focusing on fitness bands."
Linda Sui, Senior Analyst at Strategy Analytics, added, "Wearables are emerging as the next big thing for the mobile industry after smartphones and tablets. However, there remain numerous barriers to overcome before the wearables market can truly take off. Major challenges that wearable makers need to address include compact displays not yet fully optimized for mobile data, short battery lives that require excessive recharging, and a limited pool of developers creating wearable apps."