The verdict is in: Wearable devices are poised to become the highest-selling consumer technology, after smartphones.
According to CNBC, sales of wearables are “expected to exceed 305 million units in 2020, with a compound annual growth rate (CAGR) of 56 per cent during the next five years.”
And, not only are wearables gaining popularity – they’re also getting smarter.
A far cry from the step counters and wristbands of the past, “wearables will quickly move from a smartphone accessory primarily focused on notifications to a more advanced wearable computer capable of doing more processing on its own,” the article states. However, the sustained growth rate of smartphones appears to increase demand for wearables, as many people buy them as extensions of their smartphones.
The CNBC article notes the increasing division of wearables into two clear categories: “Autonomous wearables (smartwatch, personal assistants and smart glasses); and passive wearables, also known as basic wearables (wristbands).”
It’s the autonomous wearables category that’s set to explode over the next five years – and MYLE’s new wearable personal assistant – currently available for pre-order – is on the leading edge of this trend.
Still skeptical that wearables are taking off?
Consider that the Apple Watch is the best-selling wearable device in the world. This fact alone can boost the popularity of wearables across the board. And, as a company known for their revolutionary products, when Apple jumps on the bandwagon, it’s often a sign of bigger things to come.