CCS Insight forecasts that the wearable tech industry will treble within the next five years. 245m devices are expected to ship in 2019, representing a monetary growth of 64% from $15bn in 2015 to $25bn in 2019. Fitness and activity trackers will account for more than half the 2019 market in terms of units shipped, with smartwatches expected to make up more than 50% of the revenue. The Chinese company has $15 tracker currently on sale – the Mi Band. China overtook the US to become the biggest market for fitness trackers in 2015. The report also predicts that wearables could be used as an alternative form of payment by 2025, which would see them outpace credit cards and mobile wallets – although this is not yet clear
CCS Insight forecasts that the wearable tech industry will treble within the next five years. 245m devices are expected to ship in 2019, representing a monetary growth of 64% from $15bn in 2015 to $25bn in 2019. Fitness and activity trackers will account for more than half the 2019 market in terms of units shipped, with smartwatches expected to make up more than 50% of the revenue. China overtook the US to become the biggest market for fitness trackers in 2015. The report also predicts that wearables could be used as an alternative form of payment by 2025, which would see them outpace credit cards and mobile wallets – although this is not yet clear