Smart Watches Will Comprise 51 Percent of Wearables Sales in 2022, Forrester Says
Smart watches will become the most popular wearable device among consumers, increasing from 21 percent of all wearables sold in 2016 to 51 percent in 2022, according to a new forecast on the state of the wearables market from Forrester.
The report predicts that the U.S. wearables market will grow from $4.8 billion in 2016 to $9 billion in 2022, representing a compound annual growth rate (CAGR) of 9 percent from 2017 to 2022. This will translate to annual market revenue of $9.1 billion in 2022.
Health and fitness are the leading drivers of wearable interest, with 30 percent of consumers reporting they would use a wearable to capture or store personal health-related information and 17 percent saying they are already using a wearable for this purpose.
Wearable device usage also is driven by consumers’ desire for convenience. Thirty-five percent of U.S. online adults who use wearables do so to simplify their lives, while 44 percent favor wearable devices because they can deliver important notifications instantly.
(For more information visit https://www.forrester.com).