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The wearables market is now expected to hit at least US$50 billion by 2022

Wearables will remain a growing market over the next few years. (Source: Design Interactive)
Wearables will remain a growing market over the next few years. (Source: Design Interactive)
Wearables are currently projected to influence the way personal electronics are used more and more in the future. This technology now covers both devices that can double as accessories and as clothing. Their market is estimated to be worth up to US$51.6 billion in the next 3 years.

Wearables are already expected to become a more ubiquitous and commonplace form of personal device in the immediate future. Currently, they are often seen as a smartphone companion, or as a standalone product for specific uses such as fitness tracking, activity-monitoring (an example of this may be the action-cam) or gaming (mostly in terms of virtual or augmented reality). 

However, there is also a second major category of wearable that is also now projected to become more important and prominent in the coming years: smart clothing. These products may be made of smart textiles, flexible electronics or both. They are expected to be used in applications like body-heat monitoring or control, health-tracking, energy-harvesting, device control or simple cosmetic appeal. 

These main divisions of the wearables market are now estimated to drive its value to US$51.6 billion by 2022. As this worth was calculated at $21.7 billion in 2016, this means it may grow at a compound rate of 15.1% over those 6 years. Of these, the AR and VR device segment is expected to grow at the fastest rate, and the Americas may be the most prominent in terms of regional markets. 

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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2019 07 > The wearables market is now expected to hit at least US$50 billion by 2022
Deirdre O Donnell, 2019-07- 4 (Update: 2019-07- 4)