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Mark Peters : September 2nd 2017 - 19:14 CET

Wearable Device Trends by Tractica

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TracticaTractica market report for wearable devices : Wearable device market to reach 430 million units annually by 2022, According to Tractica. Healthcare applications for smartwatches, fitness trackers, and body sensors will be a major driver in the next stage of wearables market growth. The wearables market continues to generate a lot of attention, both positive and negative. Fitness trackers and smartwatches remain the flag bearers of the global wearable market, seeing growth but at a slower pace than estimated earlier, according to a new market report from Tractica. Other wearable device categories such as smart body sensors continue to show strong promise, driven largely by wearable patches used in mobile healthcare applications, which more broadly are expected to drive boost the overall wearables market.
Wearable trends

Wearable Trends
Tractica also forecasts that annual wearable device shipments will increase from 118 million units in 2016 to 430 million units by 2022, representing a compound annual growth rate (CAGR) of 24.1%.

The market intelligence firm forecasts that, by the end of that period, smartwatches will have become the largest wearable device category, followed closely by fitness trackers and body sensors.

Other electronic devices will also play a role in the growth of the market, including smart clothing, wearable cameras, smart glasses, smart headphones, and other wearables.

Tractica’s wearable device report quantifies the market size and growth opportunity for wearable devices, including smartwatches, smart glasses, fitness trackers, smart clothing, body sensors, wearable cameras, smart headphones, and other wearables.

The market data includes device shipments and revenue segmented by world region, application market, and connectivity technology. The application markets covered in this study include consumer, enterprise, industrial, public safety, healthcare, sports, and others.

Healthcare business

Healthcare business
"Healthcare and health-focused applications in general will be a major driver for the next phase of growth in wearables," says research director Aditya Kaul. "Wearable device companies that pivot beyond fitness and activity tracking, toward preventing and managing chronic health conditions like diabetes and heart problems will succeed in the long run. Tractica believes that chronic health management, both in a professional healthcare setting, as well as a general consumer setting, will help wearables break into the mainstream."

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