Global wearables statistics in 2020:

Over the years, the wearables market has been gradually growing with the rise in demand. Wearable technology like those of smartwatches, cameras, fitness trackers, heartbeat monitors, and more have hit a peak in 2020.

• The sale of wearable units set to increase to about 245 million units in 2020. (ccinsight)
• The market for wearables has reached over $25 billion. (ccinsight)
• With individuals around the world choosing to stay healthy and fit, the market for wearables is to treble globally in the coming years. (ccinsight)

Wearables revenue growth statistics:

With users around the world employing technology into their day to day activities, smartwatches have taken the lead. 2020 has seen a boost in smartwatches sales as the primary source of revenue and income for various businesses.

• A 2020 study shows that there is an impressive boost in revenue by about $15,376 million worldwide. (Statista)
• There will be an increase of about 356.8 million users in 2020. (Statista)
• Between the years 2020 – 2024, it is believed to soar by an additional 3.8%, resulting in even more revenue of up to $17,856 million by the end of 2024. (Statista)
• In the year 2020, the user penetration will increase by 4.8%, and by 2024, market penetration will increase by 5.8%. (Statista)
• Considering the individual users of wearable technology, each individual tends to spend a minimum of $ 79.75 on devices that come with wearable technology. (Statista)
• The majority of the wearable technology users worldwide are twice as likely to know more about Apple devices and its accompanying features than the other products on the market. (Statista)
• As of now, the revenue generated per user is about $43.09 when it comes to wearables. (Statista)
• China was leading in the world wearable market, with about $4,800 million in revenue as per a study conducted in 2020. (Statista)

Statistics for at least one wearable product demand:

• About 38.8 million people made a demand for at least one wearable device in the past year. (brandongaille)

• There was a 1.1 % boost in users with at least one wearable product when compared to the year before that. (brandongaille)
• The increase of demand in one wearable use contributed to about 9.7% increase in the overall demand for wearable devices in the global market. (brandongaille)

Wearable statistics as per users by age:

According to a global consumers survey conducted in October 2019, the following were the findings:

• Between the age groups of 18 to 24 years, there was a 14.1% boost. (Statista)
• In the age groups of 25 to 34 years, there was a 36.4% increase in demand and usage. (Statista)
• There was a 26.3% rise in wearables demand between the age groups 35 to 44 years. (Statista)
• 17.2 % rise in wearables between the ages of 45 to 54 years. (Statista)
• 16.1% rise in wearables between the ages of 55 to 64 years. (Statista)

Wearables statistics as per the gender of the users:

As per a study conducted in October 2019, the ratio of users of wearables was the following:

• 43.0% of males used wearables technology in their daily activities. (Statista)
• 57.0% of females used wearables technology in everyday activities at home and also in the workplace. (Statista)
• Even though women around the world use the maximum fitness trackers in the sector, males are the owners of a majority of 63% of smartwatches. (Statista)

Wearables statistics as per the income brackets:

The wearable statistics vary according to income.  As some of the wearables are expensive, people with higher income groups go for expensive brands. The following are the statistic we can find in a reach study conducted in October 2019.

• Users from the low-income slab formed about 34% of the total wearable users globally. (marketwatch)
• The medium income users are about 41.0% of the global wearable count. (marketwatch)
• While only about 25% of wearable technology users were from the high-income groups. (marketwatch)

Smart/basic watches statistics globally:

Wearable technology in the form of smartwatches or basic devices is an expanding trend in the market. In 2019, there had a 52% increase in the demand and shipping of smartwatches globally. It falls under the following categories – health and fitness wearables, workout headsets, wearable cameras, smart glasses, and lots more. Fit Bit is one of the top-ranked wearable technology, and devices vendor in the world followed closely by Apple and Xiaomi.

• 2020 saw a boost of about 25 million units sold out globally when it came to health and fitness wearables. (marketwatch)
• Health and fitness, workout heads, cameras, smart glass, etc., consume about 59% of the total market share. (marketwatch)
• Fit Bit has a total share of about 29% in the global market. (marketwatch)
• Apple and Xiaomi combinedly hold 15% of the total share globally.  (marketwatch)

Statistics of the size of the wearables market:

In the early years, the market growth of wearables in the fitness tracker market has been consistently moderate. However, 2019 and 2020 have witnessed a sharp increase of about 60.6% usage of variables by people of all age groups.

• About 56.7 million adults in the US use a wearable device at least once each month, as per a survey report published in 2019. (alliedmarketresearch)
• Nearly half of the adults chose to wear a Smartwatch. (alliedmarketresearch)
• Children and teenagers in the US who chose to wear on a wearable device on their person were about 3.8 million. (alliedmarketresearch)

Statistics on the shipments of wearable devices:

As per industrial forecasts for the year 2019, the wearable gadgets shipment will cross $225 million, which will show an increase of 25.8 percent comparing to 2018. Among the various wearables, the smartphone will top the segment. But by 2022, the smartphone will be replaced by ear-worn gadgets. Let us check the shipment statistics.

• In 2019, about 125 million units of wearables exported across the globe. (smartinsights)
• The year 2020 saw a steep increase in shipments of smart eyewear, contributing to about 40% of the total revenue of the global wearables market. (smartinsights)
• 80.96% rise in the shipment of smartwatches worldwide. (smartinsights)
• 67.17% of wearable devices were those with head-mounted displays. (smartinsights)
• 5.62% Global demand for body-worn cameras. (smartinsights)
• 20.6% demand in wearable Bluetooth headsets. (smartinsights)
• Sports and fitness watches saw an increase of 22.31% in shipment across the globe. (smartinsights)
• Fitness monitors accounted for about 58.7 3% of shipments made. (smartinsights)
• The high demand for head-mounted wearable devices amongst users made it the third-largest category after smartwatches and other devices. (smartinsights)

Growth in ear-worn wearable devices:

Many companies, such as Apple, Samsung, Fit Bit, etc., are marketing ear-worn wearables. These are available as Air Pods, Plantronics, iPods, and other gadgets that provide continuous entertainment to the users. The main areas for ear-worn wearable devices include those of the entertainment sector, health and medical systems, fitness and health, coaching, Communications, Hearing Aid, trackers, and more.

• A 2019 study predicted a steady growth of ear-worn wearable devices by about 30% in 2020. (gartner)
• The ear-worn wearable market expected to rise to about 19.2% in the year 2022. (gartner)

Global demand statistics for basic wearable devices:

• Tech producers around the world have dispatched at least 80 million shipments of basic wearable devices. (brandongaillle)
• Between 2019 and 2020, about 19 million wrist wear shipments carried out. (brandongaillle)

Statistics for wearable devices for children:

Wearable devices for children are a lucrative market. It is not only a play gadget for children that keep them occupied, but it is also safe for use and enables easy monitoring of their whereabouts and movement.

• China saw a growth in the demand for 35 million wearable units for children. (brandongaille)
• In the United States, the combined demand for wearable products for children of different age groups is 1 million. (brandongaille)
• Europe experiences a decrease in the total number of wearables sold to children due to stringent regulations and privacy issues. (brandongaille)

Statistics for wearable Bluetooth components:

A 2019 study found that there was about a 48% increase in Bluetooth components for wearable technology devices.

• By 2020 the number of Bluetooth unit sales will touch 26 million due to the rise in demand for wireless devices like Air Pods and fitness trackers. (brandongaille)
• There is a high demand for Bluetooth components when compared to the products that facilitate wire jacks. (brandongaille)

Statistics for wearable smart clothing:

Wearable smart clothing has a small share in the whole wearable gadget segment.  As per market forecasts, the wearable smart clothing shares are likely to expand and consolidate the market position.  Since it has become a trendsetter in the market, it is getting more popular among youngsters.

• A recent study showed that a total of 4.12 million shipments carried wearable smart clothing. (Statista)
• By 2024, the demand for wearable smart clothing will touch an impressive 6 million. (Statista)

Consumer statistics on wearable technology in day to day life:

Out of the total purchases of wearable technology and products around the world, about 40% of them did not feel complete without the assistance of such wearable devices. At least one out of four consumers of wearable technology or devices state that they continued to wear them on even during sleep. 

• About 70% of wearable device users know that their favorite gadget manufacturers give importance to the protection of the data and information. It makes such brands more reliable and trustworthy when compared to other factors like those of Internet and communication providers, and several others. (Statista)
• There is a belief among 43% of wearable gadgets users that smartphones will soon give way to inbuilt wearable technologies. (Statista)
• About 40% of the wearable technology users have the opinion that they feel much more convenient and comfortable in the use of search technologies.  They tend to spend lesser time on smartphones when compared to wearable smartwatches. With the popularity of wearable technology, smartphones are now considered as a second screen in their daily activities. (Statista)
• By the end of 2020, wearable technology users expect that 88% of such devices will be capable of additional uses health, fitness, and wellness. (Statista)
• Only 25% of the purchasers who purchased a wearable product with certain expectations complaint that not all wearable products met the expectations. (Statista)
• Out of the total purchasers of wearable technology, it has observed that 74% of them were more likely to include sensors and other additions that made quicker and easier interaction with the surrounding.  (Statista)
• By the end of 2020, it is believed that about 30% of them will employ an additional 5 products to their collection of wearables. (Statista)

Statistics of wearable technology consumers who need additional connectivity features:

• Out of all the smartphone users, 83% state that they require their wearable technology to include additional standalone connectivity features. (economictimes)
• Out of the above, 40% of wearable technology device owners state that they need Wi-Fi or Cellular connectivity with inbuilt features. Consumers want these features because, with the features, they can get their wearable devices functioning as per their convenience. (economictimes)

Statistics of the various wearable technology use of consumers:

• A survey conducted by the end of 2019 shows that 32% of the wearable technology users make use of these devices for health and fitness purposes. (brandongaille)
• 24% of them purchase these wearable technology devices due to uniqueness and modern technological innovations. (brandongaille)
• Just a little, 13% of the total consumers make use of these viable devices for other purposes such as safety, tracking, payments, and connectivity to their main gadgets. (brandongaille)

Conclusion:

As per estimates, in the next 10 years, the market for wearables will grow three times than what it is currently. The majority of the wearable products will see gradual but steady gains. Constant market demand will lead to high penetration rates. Businesses engaged in large-scale production, distribution, and branding in wearables products and devices will be profitable. With the soaring consumer interests in staying physically active both indoors and outdoors, the future of wearables is very promising.

Source of references:

https://www.ccsinsight.com/press/company-news/2332-wearables-market-to-be-worth-25-billion-by-2019-reveals-ccs-insight/

https://www.statista.com/outlook/319/100/wearables/worldwide

https://brandongaille.com/29-wearable-technology-industry-statistics-trends-analysis/

https://www.statista.com/outlook/319/100/wearables/worldwide#market-age

https://www.marketwatch.com/press-release/wearable-devices-market-2019-size-statistics-growth-revenue-analysis-trends-industry-forecast-report–2025market-research-engine-2019-12-11

https://www.alliedmarketresearch.com/body-adapted-wearable-electronics-market

https://www.smartinsights.com/digital-marketing-strategy/wearables-statistics-2017/

https://www.gartner.com/en/newsroom/press-releases/2018-11-29-gartner-says-worldwide-wearable-device-sales-to-grow-

https://brandongaille.com/29-wearable-technology-industry-statistics-trends-analysis/

https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/wearable-tech-set-to-become-a-54-billion-industry-by-2023-globaldata/articleshow/70564832.cms?from=mdr