By 2021 29 percent of Americans will be using a wearable device, up from 18 percent in 2015, according to a new report by research firm Forrester.
According to the ‘Wearables Forecast: 2016 to 2020‘ report, sales will grow from $4.2 billion in 2015 to $9.8 billion in 2021 with smartwatches being more than a third of all wearables sold.
The report says a combination of falling prices and initiatives that encourage health and fitness tracking will help drive growth.
As the chart below illustrates, the most common current usage and potential future appeal of wearable devices among people surveyed was health and fitness.
This is likely to remain the case unless some ‘killer’ retail or travel wearable device is introduced that shoppers and travelers just can’t do without. Until then, consumer wearables will largely remain in the health category.