Poor year for wearables

Author: EIS Release Date: Jan 9, 2023

Wearables declined for the first time since 2013 in 2022, says IDC with a 3.3% decline to 515.6 million units. However, 2023 should see a bounce-back to 539 million.

 

Apple, Samsung, Huawei, and Xiaomi have been joined in the top ten wearable companies by three Indian players with Imagine Marketing taking second  place after Apple.

 

The wearables market is forecast to have a five-year CAGR of 5.1% as unit shipments reach 628.3 million by the end of 2026.

 

IDC now expects smartwatches, inclusive of those that run a high-level operating system such as an Apple Watch or Wear OS watch, as well as those running on a real-time operating system (RTOS), such as those from Polar, Withings, OnePlus, or others, to grow with a 6.3% CAGR while hearables will experience a 5.1% CAGR over the same period.