The wearable electronics market will grow steadily in the coming years. In any case, this forecast is given by the specialists of IDC analytical company.
They believe that this year the volume of deliveries of portable electronic devices will reach 396.0 million units, which is 14.5% more than last year, when 345.9 million units were shipped. Analysts expect the market to grow by an average of 12.4 percent per year between 2020 and 2024. If this forecast recovers, 637.1 million units will be shipped in 2024.
During the period included in the forecast, the largest segment of the market will remain smart headphones. In 2020, they will be shipped 234.3 million units, which corresponds to 59.2% of the market. In 2024, smart headphones will account for 62.8% of shipments, and in quantitative terms it will be 396.6 million pieces. In terms of average annual growth, this category will outpace the market as a whole. Analysts predict a 14.1% growth rate.
The second place will be reserved for the smart watch. Now their share is 23.1%, and by 2024 it will grow to 24.7%.
In third place are the bracelets. This year they will be shipped 67.7 million pieces, which corresponds to 17.1% of the market. However, in the coming years, the share of bracelets and smart watches will decrease to 11.8%. In 2024, 74.4 million units of this category are expected to be shipped. The total share of portable electronic devices of all other categories will remain small (less than 1%).