It’s 2016 and the market for wearable technology is continuing on a steady upwards path. The consumer wearables market includes fitness and health trackers, smart watches, glasses, and smart jewelry. Below are 10 facts about wearables that anyone living in today’s world should be aware of.
The FitBit Blaze. Image source: Getty Images.
- In 2015, the wearables market exceeded $2 billion, and is predicted to hit almost $3 billion this year, and over $4 billion in 2017. (Source)
- Growth in the wearables market is expected to increase 35% by 2019. (Source)
- One in six consumers currently own and use wearable tech. (Source)
- Most people who use wearable tech are young; 48% are between ages 18 and 34. (Source)
- 69% of men surveyed have a piece of wearable tech or want one, compared to 56% of women. (Source)
- Employees equipped with wearable technology reported an 8.5% increase in productivity and a 3.5% increase in job satisfaction. (Source)
- Owners of wearables are more likely to be upper-middle class and above. 29% of wearables owners make more than $100,000 a year. (Source)
- Smartwatches will lead the wearables market. They accounted for 59% of wearable sales in 2015 and are estimated to grow to 70% of sales in 2019. (Source)
- 51% of people surveyed cited privacy as their biggest concern with wearable tech. (Source)
- Over 50 billion Internet-connected devices will exist worldwide by 2020. (Source)
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