Cutting edge tech products like Apple Watch, fitness tracking devices, and virtual reality gears like Oculus Rift will set the stage for the sales of wearable technology, increasing by almost one fifth in 2016, says Gartner.
In 2015. total of 232 million wearable gadgets were purchased and this number is supposed to increase by 18.4 percent to 274 million during 2016. Analysts are expecting a total sales of 322 million devices in 2017.
The increased number of purchases made in wearable electronic devices will result in over $28bn revenue in 2016, reports Gartner, with smartwatch usage single handedly contributing $11.5 billion.
“Smartwatches have the greatest revenue potential among all wearables through 2019, reaching $17.5 billion,” said Angela McInytre research director at Gartner. She has also pointed out that Apple has established smartwatches as a mainstream lifestyle trend and that has also given boost to wearable tech industry.
The sale of virtual reality head gears will jump with HTC Vive, Oculus Rift, Sony PlayStation VR, and Microsoft HoloLens. They will clear the path to create new ways of playing video games and working with new type of business apps. Sales are expected get close to 1.5 million in 2016, crossing the six million mark in 2017.
In spite of the expected high scale growth in sales of smartwatches, fitness tracking devices, and Head Mounted Display devices, Gartner is banking on sales of Bluetooth headsets to capture the maximum share in sales of wearable devices worldwide. In 2015, 116 million Bluetooth headsets were purchased and that number is expected to go up to 139 million in 2017.