“Wearables” Market Could Reach $80 Billion by 2020: Report

In Industry News, What's New by Accessories StaffLeave a Comment

wearablesBasingstoke, England—The market for “wearables”—technology that’s wearable—could amount to a $80 billion business by 2020, especially if there’s a fashionable interpretation.

In its new report “The World in 2020—A technology Vision,” Juniper Research argues that invisible wearables (i.e. wearables indistinguishable from non-smart technology) are likely to see significant adoption before the end of the decade.

Within a wearables market that Juniper estimates will be worth approximately $80 billion annually by 2020, “fashion-first” wearables will have a much greater appeal than tech-centric devices, as they will blend in with consumers’ lives more effectively. However, the report points out that this will not be a strategy that every wearables company will pursue, as the appearance of tech may ultimately become part of an overall design aesthetic.

Meanwhile, dermally-attached wearables—such as biostamps—are “in a more embryonic state, and require a more significant shift in consumer habits than accessories-based wearables, limiting their adoption among general consumers for the foreseeable future.”

Juniper pointed out that sales of Apple Watches this year now range as high as 20 million, a figure that has some watch companies scrambling to introduce smartwatches of their own.

What to watch in the watch market: Analysts think the high-end of the fashion watch segment is most at risk lose share. In the luxury segment, although brands might feel pressure at the opening pricepoints, the Apple Watch shouldn’t be a significant factor in the highest priced, luxury levels.

The new report “The World in 2020—A Technology Vision” examines the following developing technologies:

  • Biometrics
  • Drones
  • Real-Time Translation
  • Augmented Reality Wearables
  • Desktop 3D Printing
  • Invisible Wearables
  • Advanced Driver Assistance
  • 5G/Internet of Everything
  • RNA Sequencing
  • Wireless Area Charging
  • Self-Driving Cars

The report is available as a free download from http://www.juniperresearch.com.

 

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