From what we’ve seen of the
initial smartwatch offerings, the new wearable tech category has left something to be desired. Despite the underwhelming introduction to this new technology,
NextMarket Insights estimates that annual smartwatch sales will grow from 15 million units in 2015 to a staggering 373 million devices by 2020. This projected growth is due to several factors, including traditional watchmakers implementing technology into their watches, and the continued rise of the “active lifestyle segments.” As stated by the company’s chief analyst Michael Wolf, “the smartwatch category can become a substantial market opportunity even with fairly modest penetration of the broader mobile and watch-wearing public.”
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