Even thought the wearables market has come a rather long way to include more than just stopwatches – it wouldn’t be too wise to say that it has no potential for further growth as that doesn’t at all seem to be the case. Indeed with respect to the sheer number of peripherals increasing as well as innovation going on to guide the industry as a whole, the wearables market is still expected to see huge growth in the future.
In accordance with what a Global Data report has had to say, the wearables market is in fact heading towards a boom, even though we’ve seen a decline with regards to smartwatches in that of 2020. This particular report went on to claim that four years from now by the year 2024, the wearables market will be doubled when you compare it with the data that presents itself in 2019.
Must Read : Crazy Tech: Phone Cover That Crawls To The Charger Itself
And as far as the statistics for 2019 alone go – there are present some astonishing numbers. Indeed last year, the wearable industry is said to have brought in $27 billion. Of course such a high sum of money was never expected to be reflected in this year – this of course due to the fact that much of the year has been dominated by the Coronavirus pandemic – which much like any other industry, has done major damage – this especially though with respect to smartwatches.
Nonetheless, while 2020 has in fact been harsh on various industries, it seems as if the silver lining is just around the corner. In the next year in 2021 and beyond, the smartwatch segment of the market is expected to boom, and this will only go on to uplift the whole market as a whole. The same Global Data has indicated and estimated that the wearable market as whole could indeed be worth in and around $64 billion by the year 2024 : massive growth to say the very least.
