Global consumer spending on wearable devices is forecast to reach $51.5bn in 2020, according to the latest research from Gartner. This is an increase of 27.0% from the $40.6bn expected to be spent this year. End-user spend is expected to rise a further 22.2% in 2021.
Smartwaches will account for the majority, estimated at $22.8bn next year. This is equivalent to nearly one-half of all wearables spend (44.2%). Year-on-year growth is slowing, however, from 37.3% in 2019 to 20.1% in 2021.
Gartner notes that growth will be driven by the Apple Watch and Samsung Galaxy Watch in the premium price...