Global wearables shipments are set to return to growth in

Global wearables shipments are set to return to growth in 2023 after the first decline in the past

According to forecasts by the analysis agency International Data Corporation (IDC), 2023 will be the year of renewed growth in the supply of wearable devices. Last year, sales of wearable electronics fell for the first time in history. Now, according to the company, they are expected to increase to 442.7 million units in 2023, up 6.3% year-on-year.

At the same time, first-quarter shipments will continue to be lower compared to January-March last year, according to data from analytics tool IDC Worldwide Quarterly Wearable Device Tracker.

Many distribution channels are known to suffer from wearables overhangs, which impact both shipment volume and average selling price (ASP) in the short term. However, experts are confident that by the second half of this year these problems will be solved and the market will start to grow – in 2027 global shipments should reach 644.5 million copies, with a compound annual growth rate (GAGR) of 5.4 %. .

IDC Mobility believes that smartwatch vendors like Apple, Samsung and Google could face problems in 2023 as many of them have hiked prices given the unfavorable macroeconomic climate and the discounts offered on such products may not be enough to offset the negative Effects of inflation and exchange rate difference equalize prices in different countries. The share of smartwatches in the wearable device market in 2023 and 2027 will hardly change and will be just over 31%, although it will increase by more than 40 million units in pieces.

    Image source: IDC

Image source: IDC

In 2023, interest in headphones should recover. In the past two years, this market has already grown as a result of sanitary restrictions during COVID-19, which have forced many people to stay at home – amid the desire to consume content independently without disturbing each other.

However, growth slowed in 2022 as demand has been largely met and those willing to buy headphones have largely already bought them. Fortunately for vendors, IDC is predicting a massive start to the device refresh cycle in 2023, and there are many models available today with new features at various price points.

As for smart bracelets, their share should even drop in 2027 from 6.5% in 2023 to 4.9% in 2027, with the GAGR falling by 1.6% over that period.

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Johnson Smith

Johnson Smith is interested in Home Theater & Audio, Smart Tech, Google News & Products, How To, Apple News & Products, Cell Phones, Automotive Technology.

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