Connected wearables are now becoming increasingly popular on many markets globally. Berg Insight estimates that worldwide shipments of wirelessly enabled wearable devices will grow from 116.8 million in 2018 at a compound annual growth rate (CAGR) of 15.4 percent to 238.5 million in 2023. The cellular attach rate at the end of the forecast period is forecasted to be 28.4 percent. Get up to date with the latest trends from all main product categories and regions with this unique 160 page report.

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connected wearables market worldwide.
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Understand the key enablers for growth in the connected
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Identify key players in the connected wearables ecosystem.
Benefit from detailed forecasts for each device category lasting
until 2023.
Learn about the markets for activity trackers, smartwatches, smart
glasses and medical devices.
Evaluate the business opportunities in new innovative device
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Connected Wearables
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2. This report answers the following questions:
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2023202220212020201920182017
Year
Million units
Annual shipments of connected wearables, million units (World 2017–2023)
Annual shipments of connected
wearables will reach 239 million in 2023
The wearable form factor enables hands-free operation and allows
the user to multitask and get immediate access to information. It
also enables continuous recording of useful data such as body
metrics, location and environmental data. Berg Insight’s definition
of a connected wearable is a device meant to be worn by the user
and which incorporates data logging and some sort of wireless
connectivity. Various forms of connected wearables have for long
been used in professional markets to improve work processes and
increase efficiency. The high smartphone adoption, cloud services,
miniaturised hardware, sensor technology and low power wireless
connectivity enabled wearables to emerge as a new promising
consumer segment some years ago. Today, activity trackers and
connected fitness devices as well as smartwatches are leading the
wearable technology industry in terms of shipment volume and market
maturity. However, the number of applications for wearable technology
is vast and a plethora of device categories such as smart glasses,
head-mounted displays, medical devices, wrist-worn computers and
scanners, connected clothes and garments, gesture control devices
and many more exist. These wearable devices target various market
segments including infotainment & lifestyle, fitness & wellness, people
monitoring & safety, medical & healthcare, enterprise & industrial and
government & military.
The market for connected wearables has entered a strong growth
phase that will last for many years to come. Berg Insight estimates that
shipments of connected wearables reached 116.8 million units in 2018.
The market is expected to grow at a CAGR of 15.4 percent to reach
annual shipments of 238.5 million in 2023. Wearable activity trackers
and connected fitness devices is the leading category, currently
representing a majority of the shipments. Decreasing prices and
extended capabilities will enable shipments in the segment to reach
88.9 million units in 2023. Smartwatches have also started to reach
significant volumes. The market is led by Apple which accounted for
close to half of the 45.5 million devices shipped in 2018. Smartwatches
are increasingly incorporating activity tracking features as well as more
advanced sensors for medical applications. Growing at a CAGR of
20.9 percent, the market segment is predicted to become the largest
wearables category with shipments of 117.7 million devices in 2023.
Sales of smart glasses and head-mounted displays have grown rapidly
in recent years. During 2018, an estimated 1.5 million devices were
shipped. Around 75 percent of these devices were VR/AR headsets
to be used for gaming and entertainment purposes, while the
remaining devices were mainly used by enterprises and the military.
The category is projected to reach annual shipments of 11.9 million
devices in 2023. Annual shipments of medical and mobile telecare/
mPERS devices are forecasted to grow from 1.8 million devices
in 2018 to 6.9 million devices in 2023. Finally, annual shipments of
wearables not covered by the above product categories are predicted
to grow at a CAGR of 34.1 percent from 3.0 million units in 2018 to
reach 13.0 million units in 2023. The segment includes wearables
such as authentication and gestures devices, smart rings, wrist-worn
computers and scanners, smart jewellery and connected prosthetics.
North America is the largest market for connected wearables and
accounted for about 44.4 million of the total shipments in 2018. The
second largest market is Europe which reached shipments of 38.5
million devices followed by Asia-Pacific with 26.9 million devices. Berg
Insight projects that North America will remain the largest regional
market in 2023, but its market share will decrease from 38 percent
in 2018 to around 33 percent at the end of the forecast period. Asia-
Pacific is estimated to account for an increasing share and in 2023
account for 30 percent of the shipments, up from 23 percent in 2018.
Emerging markets currently represent a relatively small share of the
market. Demand in the Middle East and Africa mainly comes from a
few developed countries and wider adoption in the region will be highly
dependent on the overall economic development.
Bluetooth will remain the primary connectivity option in consumer
centric wearables throughout the forecast period and smartphones will
act as the principal hub for remote connectivity. The number of active
cellular network connections from wearables is projected to grow from
23.8 million in 2018 to reach 176.8 million connections in 2023. The
growth is mainly driven by increasing adoption of cellular connectivity
in the smartwatch category. The most common connectivity option for
wearable medical devices will be low power NFC technologies and
Bluetooth which enable remote connectivity via medical monitoring
system hubs. BYOD will have an increasing impact on the connected
medical device category, especially for patient-driven models of
connected care.
Which are the main device categories within connected
wearables?
What are the main drivers on this market?
What are the general technology trends for connected
wearables?
When will cellular connectivity be a common option in connected
wearables?
Which connected wearables offer the best potential for
embedded cellular connectivity?
Which are the leading wearables vendors?
How will the markets for smart watches and fitness trackers
converge?
When will smart clothing become a success on the consumer
market?
What new innovative wearables could become successes?
M2M Research Series

3. 1 Introduction to wearable
technology
1.1 Introduction
1.1.1 Background
1.1.2 Definitions
1.2 Market segments
1.2.1 Infotainment & lifestyle
1.2.2 Fitness & wellness
1.2.3 People monitoring & safety
1.2.4 Medical & healthcare
1.2.5 Enterprise & industrial
1.2.6 Government & military
1.3 Technologies and platforms
1.3.1 Mobile operating systems and platforms
1.3.2 Battery and processor technologies
1.3.3 Wireless technologies
1.3.4 Sensors
1.3.5 Display technologies and user interface
2 Value chain and vendor
landscape
2.1 Enabling technologies
2.1.1 Hardware component vendors
2.1.2 Mobile operating system vendors
2.2 Devices
2.2.1 Smartphone and consumer electronics
manufacturers
2.2.2 Apparel and accessories companies
2.2.3 Specialist vendors
2.3 Connectivity services and IoT
platforms
2.3.1 Wireless operators and managed service
providers
2.3.2 IoT platforms
2.4 Apps and content
2.4.1 Software application developers and
content providers
3 Connected fitness and activity
trackers
3.1 The connected fitness and activity
tracking market
3.1.1 Market size and major vendors
3.1.2 Fitness and activity tracking wristbands
3.1.3 Connected sports watches
3.1.4 Smart clothing
3.1.5 Other form factors
3.2 Fitness and activity trackers and
wireless connectivity
3.3 Company profiles and strategies
3.3.1 Athos
3.3.2 Digitsole
3.3.3 Fitbit
3.3.4 Garmin
3.3.5 Hexoskin
3.3.6 Huawei
3.3.7 Moov
3.3.8 OMsignal
3.3.9 Sensoria
3.3.10 Xiaomi
4 Smartwatches
4.1 The smartwatch market
4.1.1 Market size and the largest vendors
4.1.2 Smartwatch platforms
4.1.3 Smartwatches for children
4.2 Smartwatches and wireless
connectivity
4.3 Company profiles and strategies
4.3.1 Apple
4.3.2 Blocks Wearables
4.3.3 hereO
4.3.4 Fossil
4.3.5 Laipac Technology
4.3.6 LG Electronics
4.3.7 Samsung
4.3.8 Withings
5 Smart glasses & head-mounted
displays
5.1 The smart glasses and HMD market
5.1.1 Key vendors and market landscape
5.1.2 Virtual Reality headsets
5.2 Smart glasses and wireless
connectivity
5.3 Company profiles and strategies
5.3.1 Daqri
5.3.2 Epson
5.3.3 Everysight
5.3.4 Google
5.3.5 Kopin
5.3.6 Microsoft
5.3.7 North
5.3.8 Optinvent
5.3.9 Oculus VR (Facebook)
5.3.10 Osterhout Design Group
5.3.11 Vuzix
6 Medical devices and mobile
telecare
6.1 Medical devices
6.1.1 The mHealth and home monitoring market
6.1.2 Regulatory environment
6.1.3 Wearable medical devices and implants
6.2 Next-generation telecare and mPERS
solutions
6.2.1 Mobile telecare and mPERS devices
6.3 Company profiles and strategies
6.3.1 BioTelemetry
6.3.2 Dexcom
6.3.3 Everon
6.3.4 GreatCall
6.3.5 Medtronic
6.3.6 MobileHelp
6.3.7 Navigil
6.3.8 Nortek
6.3.10 Preventice Solutions
6.3.11 Proteus Digital Health
7 Market forecasts and trends
7.1 Global market outlook
7.1.1 Market segments
7.1.2 Regional market data
7.1.3 Cellular connections
7.2 Market forecasts – smartwatches
7.3 Market forecasts – smart glasses &
head-mounted displays
7.4 Market forecasts – fitness and activity
trackers
7.5 Market forecasts – medical devices
and mobile telecare
7.6 Market forecasts – other connected
wearables
7.7 Market trends and drivers
7.7.1 Wearables are at the intersection of
fashion and technology
7.7.2 The myriad of use cases is wearables’
killer app
7.7.3 The voice-controlled user interface enters
the wearables market
7.7.4 Wearables raise privacy and security
concerns
7.7.5 Long-term engagement: bringing it all
together
7.7.6 Continued M&A activities anticipated to
take place in the wearables industry
7.7.7 Activity tracking wrist-bands face
increasing competition
7.7.8 Consumerisation of medical-grade
mHealth devices
7.7.9 New mobile telecare solutions open up
market opportunities
Glossary
Executive Summary
Table of Contents

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Connected Wearables is the foremost source of information
about the status, future market trends and technology
developments on this market. Whether you are a device vendor,
solution provider, telecom operator, investor, consultant, or
application developer, you will gain valuable insights from our
in-depth research.
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mHealth and Home Monitoring
Smart Homes and Home Automation
The 350 Largest Cellular IoT Projects Worldwide
Martin Bäckman is an IoT Analyst with a Master’s
degree in Industrial Engineering and Management from
Chalmers University of Technology. He joined Berg Insight
in 2018 and his areas of expertise include connected
wearables, people tracking, smart home and commercial
vehicle telematics markets.
Berg Insight offers premier business intelligence to the
telecom industry. We produce concise reports providing
key facts and strategic insights about pivotal developments
in our focus areas. Berg Insight also offers detailed market
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