Market Trend Report - Wearables

Moving beyond early-stage tech gadgets, wearable technology has become a part of everyday life for millions of consumers worldwide. Devices like smart watches, rings, and glasses are at the forefront of this shift. Each gives users sophisticated features that span health tracking, connectivity, security, and entertainment. Let’s dive into the key trends and facts shaping the wearables market based on data from recent FCC ID submissions.

Smart watches: From Niche to Mainstream

Smart watches have become the most popular wearable product. Moving from niche accessories to an everyday essential for a wide range of users. FCC ID data for smartwatch submissions shows a steady and significant rise, especially from 2020 to 2023. The growing demand may be driven by health monitoring and tracking features, aligning with the next generation's increasing focus on overall wellness.

This growth can be attributed to several factors:

(1) consumer desire for health-tracking features,

(2) advancements in design and functionality, and

(3) the seamless integration of smartwatches with smartphones.

The watch market has expanded to cater to diverse segments. There are budget-friendly models with basic features to high-end luxury smartwatches with advanced capabilities like ECG monitoring, GPS, and long battery life. For all walks of life, smartwatches are offering more value. Thus driving continuous growth in this sector.

Smart Rings: Tiny Devices with Big Potential

Smart rings are another exciting product that has shown tremendous growth over the past few years. Recent years have seen a sharp rise in interest, jumping to 7 overall submissions in 2023. Rings pack a lot of features into a small form factor with a stylish design. A tough job for any engineer. Recent features include NFC payments, access control, and health monitoring.

The appeal of smart rings lies in their subtlety and convenience. Unlike a smartwatch, smart rings are designed to be worn all the time without being intrusive. The recent surge in FCC submissions indicates that more manufacturers are exploring this space.

Smart Glasses: Finding Their Niche

Smart glasses have had an interesting journey. FCC ID submissions from 2013 to 2023 reveal a fluctuating market: starting strong, then dipping in the late 2010s, and finally picking up speed again in recent years, reaching an all-time high of 29 submissions in 2022. These ups and downs point to an industry that is still trying to find its footing but also shows promise as technology improves.

The rise in smart glasses submissions in 2021 and 2022 reflects a renewed interest in augmented reality (AR) and heads-up displays (HUD). Glasses are being developed not just for AR, gaming, or navigation, but for more practical uses, like enterprise productivity, hands-free information access, and even health applications. The current challenge for designers and manufacturers lies in refining the user experience: improving battery life, making them look and feel like regular glasses, and adding features that seamlessly blend with everyday activities.

The Wearables Market: Looking Forward

Overall, the wearables market is experiencing rapid innovation. Smartwatches are becoming more like mini-computers for your wrist. Smart rings are moving beyond health tracking to offer sleek, multifunctional tools. Smart glasses are evolving toward practical applications that go beyond novelty or entertainment.

For consumers, this means more choices, better designs, and a wide array of features tailored to fit different needs. For entrepreneurs and investors, these trends show the potential for growth in both the primary and secondary markets. Whether in creating affordable, entry-level wearables or developing advanced, feature-rich devices.

Wearables are here to stay and will continue to shape how we interact with the world around us. With advances in sensors, connectivity, and AI, the next few years promise even more innovation. The race is on for companies to deliver the next generation of wearables that will change how we live, work, and play.