Worldwide wearable device earnings to grow by 26 percent in 2019

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Worldwide wearable device earnings to grow by 26 percent in 2019

Worldwide prices of wearable apparatus will reach 225 million in 2019, an increase of 25.8% from 2018. End-user spending wearable devices is forecast to reach $42 billion in 2019. Of that, $16.2 billion will be on smartwatches. 

“At the moment, the smartwatch marketplace is reinforced with the relatively steady and higher average selling price (ASP) of the Apple Watch,” said Alan Antin, senior director at Gartner. “But the total ASP of smartwatches is expected to slowly decline from $221.99 in 2018 to $210 in 2022, due to lower-priced opponents and as greater volumes contribute to reductions in manufacturing and component costs, while powerful brands such as Apple and conventional watch brands try to keep pricing steady.” 

In 2019, 74 million smartwatches will be shipped, making smartwatches the top segment of all wearable device form variables. However, Gartner predicts that by 2022, ear-worn devices shipments will take over as the top wearables segment with 158 million units shipped compared with 115 million smartwatch shipments in 2022. 

Worldwide prices of wearable devices will reach 225 million in 2019, an increase of 25.8 percent from 2018, market research company Gartner said. It stated spending by end-users on wearable devices is predicted to reach $42 billion in 2019. Of that, $16.2 billion will be on smartwatches alone. 

“At the present time, the smartwatch market is bolstered by the comparatively stable and higher average selling price (ASP) of this Apple Watch,” explained Alan Antin, senior director at Gartner. 

“Traditional watch brands such as Fossil and Casio will get market share by providing more style and choice within their portfolio than the technology brands,” said Antin. “We believe that trend and standard watch brands are likely to account for as many as 20 percents of unit shipments by 2022.” 

Head-mounted screens, such as VR headsets, will also be expected to feature much better shipments in the forthcoming 12 months, as 34.8 million units are expected to be shipped globally. In 2018, these wearables are called to possess listed shipments of 28.4 million devices, and the predicted rise can be attributed to more AR/VR support from smartphones and mobile program.