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As predicted by IDC, the next four years will see unprecedented growth in the worldwide wearables market, especially smartwatch devices. As indicated in a report it recently released, the market research firm projects that by the end of 2022, smartwatches will make up 44.6 percent of the total volume of shipments of wearable devices.
Smartwatches as we know them today usually offer features centered around health and fitness. But according to IDC, the advent of the 5G era will contribute immensely in expanding the current capabilities of smartwatches. With growing acceptance of the concept of the Internet of Things, combined with huge leaps in wireless technology and how it is delivered to the masses, the smartwatch models that will be released in the next few years will be more efficient in helping consumers go through their daily (or weekend) routines.
As pointed out by Ramon Llamas, the research director of the wearables team at IDC, the arrival of a new decade will usher in a new generation of smartwatch devices that feature far more improved abilities and functionalities as compared to the models made available in the market today. And with the rapidly growing market, the expectation is that the increase in the level of competition among wearables manufacturers will only help to drive innovation in smartwatch technology.
It is a good bet that the Apple Watch will be having a starring role in the next decade. According to IDC’s estimation, the Apple Watch will be enjoying a commanding 17.3 percent market share four years from now. Models that run on Google’s operating system for wearables -- now named Wear OS -- will capture a 9.8 percent market share.
The great thing about the wearables market is that it is not only about smartwatches and fitness bands. As projected by IDC, other wearable devices such as next generation ear wear and even connected clothing will likely attract buyers in the years to come. As for devices designed to offer virtual reality (VR) and augmented reality (AR) experiences, they will also start to enjoy increased traction, too. IDC is predicting that the market for VR and AR headsets will improve to 8.9 million units by the end of 2018, and by 2022, that volume of shipments will further go up to hit 65.9 million units.
To read more about IDC’s latest projections with regards to the wearables market, you can head directly to the market research firm’s official website right now.
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