This IDC Market Perspective lists five predictions and their impact for the worldwide wearables market in 2024. Even as the market takes slow but certain steps toward maturity, new innovations in hardware, software, and services, as well as regional and technological developments, stand to impact the way consumers select and use wearable devices. "Vendors throughout the wearables ecosystem should be attuned to the emerging and dynamic trends of the market," says Ramon T. Llamas, research director with IDC's Wearables program. "The past two years have seen a retrenchment in the market, not due to a lack of interest but following the boom period during the COVID-19 pandemic. Now that replacement cycles are about to kick in and artificial intelligence has made its way to many products, vendors should be prepared for savvier customers who expect more from their devices."
Please Note: Extended description available upon request.
Executive Snapshot
New Market Developments and Dynamics
Artificial Intelligence Connects Descriptive Data with Prescriptive Data
Impact in 2024
Replacement Cycles Kick In, Spurring Growth for Earwear and Smartwatches
Impact in 2024
Low-Cost Wearables in Emerging Markets to Gain Salience as Alternatives to Global Vendors
Impact in 2024
Momentum Builds for Glasses and Rings
Impact in 2024
Expect Tighter Integration Between Smartwatches and the Smart Home