Wearables to resume growth this year

Author: EIS Release Date: Mar 30, 2023

Wearables sales will grow 6.3% this year after the market’s first-ever contraction in 2022, says the IDC Worldwide Quarterly Wearable Device Tracker.

 

Although 442.7 million devices are forecast to be sold this year. Q1 will see a decline in shipments thanks to excess inventory which is depressing both shipments and ASPs.

 

IDC expects these wrinkles to be ironed out by H2 with growth to continue well beyond 2023 as shipments reach 644.5 million in 2027 with a CAGR of 5.4%.

 

“What makes 2023 different is that it marks the start of replacement cycles and there are plenty of devices – available at different feature sets and price points – available,” says IDC’s Ramon Llama