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Smartwatch is Becoming the Major Growth Driver for Wrist Wearables

Published: Apr 08,2017

With 41.8 million units sold and an annual growth rate of 67% in 2016, smartwatch is expected to sustain an annual growth rate of 50% and achieve a sales volume of 62.7 million units in 2017 whereas the forecasted sales volume for smart wristband is 57.4 million units, according to Taipei-based IT research institute MIC (Market Intelligence & Consulting Institute).

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"The strong growth can be mainly attributed to the ICT and watch companies` devotion in smartwatch development. Other reasons may include smart wristband vendors joining the playing field, and the general public becoming more aware of smartwatches. As a result, the ASP for wrist wearables is on the rise, in turn expanding the overall market," says Ian Wang, industry analyst with MIC.

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