2024 wearables set for 10.5% growth y-o-y

The US, Europe and Japan markets fell but shipments grew 1.7% in Asia/Pacific and in China largely due to strong interest in emerging markets.

Hearables declined 0.8% year over year for the full year while capturing 61.3% of the overall wearables market.

Smartwatch shipments increased 8.7% during the year as India and China led the market both in terms of vendors and consumption.

Rings, such as those from Oura and Ultrahuman, showed promise with the category growing 34.9% during the year.

Glasses without a display grew 128.2% due to the launch of new products from Amazon and Meta.

Wearables are poised for additional growth in 2024 as device shipments are forecast reach 559.7 million units, up 10.5% over 2023.

From there, IDC expects the market will grow to 645.7 million units by the end of 2028 with a CAGR of 3.6%.

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