Hearables, Smartwatches to Drive 14.5% 2020 Wearables Growth: IDC

Despite scaled-back production due to COVID-19, global wearables shipments are on pace to grow 14.5% to 396 million this year, reported IDC Friday. The researcher forecasts a compound annual growth rate of 12.4% to 637.1 million shipments in 2024. Hearables demand offset lower demand for smartwatches and wristbands in the first half, and will have a 14.1% CAGR. Drivers include additional vendors, more smartphones with Bluetooth connections and no headphone jacks, lower prices and expanding uses: health and fitness monitoring, smart assistants and connection to home and work IoT systems. The most robust wearables growth through 2024 will come from smartwatches. The operating system landscape will shift after Google’s acquisition of Fitbit and more vendors join the Wear OS ecosystem, IDC predicted. Samsung’s Tizen will “slowly gain share” with Galaxy watches, while Apple will benefit from the Watch SE in the midtier. Wristbands will expand 2.4%, as average selling prices dip below $40.