Global Shipments of Wearables to Double to 47 M. Units in 2015: IEK

With Apple, Google and other globally prestigious brand vendors to explore the segment for wearable electronic devices with differing products more aggressively, global shipments of such products are forecast to double to 47 million units by 2015 from an estimate of 23 million units this year, according to Industrial Economics & Knowledge Center (IEK), a market research department under Taiwan's Industrial Technology Research Institute, a government-funded R&D institute.

IEK indicates that the launch of Apple's iWatch and Google's Android Wear operating system, among other new products from Samsung, LG, HTC and other brand vendors, will significantly fuel market demand for wearables in the years ahead. The research institute furthers that since wearable electronics applied in healthcare and sports are  increasingly popular, ever more companies from the sectors and startups will also join the competition to further broaden market size and overall shipment volume.

Under the scenario, IEK predicts that while global shipments of wearables are going to double by 2015, the global market size will also surge 79% to US$6.8 billion in the year, compared to US$3.8 billion this year. In 2017, it forecasts, overall shipment will total 107 million units, with market demand to reach US$11.5 billion.

However, IEK opines that the global market and shipment are both expected to see significant growth slowdowns after 2015, primarily because the industry will likely undergo restructuring due to explosive development in the year. In 2016, for instance, annual growth in global shipment is forecast to slow to 58%, and that of market size to decelerate to 43%.

But, IEK stresses that the industry is expected to regain growth momentum by 2018, when global shipment and market size will soar to 146 million units and US$14.1 billion, respectively, after M&A by most smaller players in the competitive landscape. (SC)

IEK's Forecasts of Global Shipment and Market Size of Wearable Devices
Year	Shipment Volume	Market Size
2014	23 M. Units	US$3.8 Bn.
2015	47 M. Units	US$6.8 Bn.
2016	74 M. Units	US$9.7 Bn.
2017	107 M. Units	US$11.5 Bn.
2018	146 M. Units	US$14.1 Bn.

Source: Industrial Economics & Knowledge Center