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Infographic – Big Wearables Spending Growth Expected

Chart: spending on wearables

Click on image for full-size view (Statista)

16 Nov. 2019. As we reported yesterday, Apple started enrolling participants in three medical research studies, with data collected on people’s iPhones and smart watches. Our friends at Statista this week released a chart showing consumer spending on wearable devices like smart watches is expected to nearly double by 2021, our infographic for this weekend.

Citing a new forecast from the technology market research company Gartner, consumers worldwide spent $32.4 billion on wearable devices in 2018, with that spending expected to rise to $63 billion by 2021. Most of these devices will be worn on the wrist as smart watches, sport watches, or with devices built into the wrist bands.

Spending on head-mounted displays — remember Google Glass? — are expected to nearly triple, with spending on ear buds also expected to rise. Consumers are likewise expected to triple their spending on smart clothing, where sensors are woven into fabrics, rather than wearing a separate device.

Gartner says increased miniaturization will make sensors and devices smaller and less obtrusive, driving adoption of wearables. At the same time, says the report, data security and privacy will become another key factor influencing consumer decisions.

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