According to the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker, wearable device shipments will reach 76.1 million units in 2015, up 163.6% from the 28.9 million units shipped in 2014.
By 2019, worldwide shipments will reach 173.4 million units, resulting in a five-year compound annual growth rate (CAGR) of 22.9%.
Total shipments include both basic and smart wearables, which are two very different product categories in many aspects.
The smart wearables, including watches and bands that are able to run third party apps are gaining more attention in the market. This includes the Apple Watch, Motorola’s Moto 360, Samsung’s Gear S-series, and Pebble’s Time.
IDC expects second and third generations of the Apple Watch will drive shipment volumes later in the forecast, particularly among those customers who take a wait-and-see approach.
Android/Android Wear will experience market-beating growth, with a combination of consumer electronics heavyweights and an expanding list of watchmaker brands also expected to launch their own smart watches in the years to come.
Pebble will see its market share decline even as overall volumes grow, but its low prices, compatibility with Android and iOS-powered smartphones, and avid fan base will sustain its presence.
With Samsung opening up the Tizen SDK and making its Gear S2 and subsequent devices compatible with flagship smartphones from other Android OEMs, the total available market for Samsung has opened up significantly.
IDC believes that OEMs will favor other platforms over Linux.
There will be a significant market for smart wristwear running on a Real-Time Operating System (RTOS), which is capable of running third-party applications, but not on any of these listed platforms.