Wearables market to nearly double by 2021: IDC

.According to data from the International Data Corporation (IDC), wearable vendors will ship a total of 125.5 million wearable devices this year, marking a 20.4 percent increase from the 104.3 million units shipped in 2016

It says From there, the wearables market will nearly double before reaching a total of 240.1 million units shipped in 2021, resulting in a five-year CAGR of 18.2 percent.

IDC anticipated that watches will account for the majority of all wearable devices shipped during the forecast period.

However, a closer look shows that basic watches (devices that do not run third party applications, including hybrid watches, fitness/GPS watches, and most kid watches) will continue out-shipping smart watches (devices capable of running third party applications, like Apple Watch, Samsung Gear, and all Android Wear devices), as numerous traditional watch makers shift more resources to building hybrid watches, creating a greater TAM each year. Smartwatches, however, will see a boost in volumes in 2019 as cellular connectivity becomes more prevalent on the market.

The data pointed also pointed out that, once the overall leaders of the wearables market, wristbands will see slowing growth in the years ahead. The sudden softness in the wristband market witnessed at the end of 2016 will carry into subsequent quarters and year, but the market will be propped up with low-cost devices with good enough features for the mass market. In addition, users will transition to watches for additional utility and multi-purpose use.