[eMarketer] Post-pandemic decline hits wearables segment

[eMarketer] Post-pandemic decline hits wearables segment

23-09-2022 14:28:20 | Door: Bob Koigi | Hits: 143 | Tags:

Global wearables sales fell 6.9% year on year in the second quarter of 2022, with demand declining due to inflation, fears of a recession, and consumer austerity, per IDC.

The benefits of wearables like smartwatches for health and fitness tracking have resonated with consumers and medical professionals alike. Before the decline, smartwatch demand was growing by a record 13% year on year.

The wearables segment is now coming out of that period of hyper-growth, per the IDC. The pandemic fueled focus on health and fitness, especially for remote workers, who saw smartwatches as essential but are challenged by current economic realities.

eMarketer is of the opinion that new features and innovation have slowed—the latest Series 8 Apple Watches use the same system on a chip (SoC) as Series 6 and Series 7 devices. A lack of significant updates means consumers will hang on to older devices longer.

Read the full eMarketer article here

 

www.emarketer.com

 


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