IDC expects wearable devices to rebound this year: shipments of 442.7 million units, an increase of 6.3% year on year

CTOnews.com March 22 news, market research firm IDC pointed out in the latest report that global wearable device shipments are expected to recover and rebound in 2023 after the first contraction in 2022.

The report estimates that wearable device shipments for the whole of 2023 will be 442.7 million units, an increase of 6.3% over the same period last year. CTOnews.com also learned from the report that IDC expects wearable devices to reach 644.5 million in 2027, with a compound annual growth rate (CAGR) of 5.4 per cent.

IDC believes that although there is still a downward trend in the first quarter of 2023, with excess inventory in many channels, and short-term pressure on shipments and average selling price (ASP), these problems are expected to be alleviated and resolved in the second half of 2023.

Full report access: Global Shipments of Wearable Devices Forecast to Rebound in 2023, According to IDC Tracker

Related readings:

IDC:2022 sales in China's smart wear market were 44.55 million, down 13% from the same period last year.

IDC:2022 shipped about 140 million Q4 wearable devices worldwide, down 18.9% from the same period last year.