Spending on wearable technology to surge to $52 billion by 2020: report

0
509

Worldwide spending in the wearable technology market will increase by close to a third to hit $52 billion in 2020, according to research firm Gartner.

This year, spending on wearables — including smartwatches, ear-worn gadgets, intelligent clothing, and head-mounted displays (HMDs) is set to reach $41 billion. The research agency believes that smartwatches and HMDs are going to prove to be the most popular forms of wearable technology for consumers, growing by 34 percent and 48 percent in 2020, respectively.

Smartwatches, devices that replace traditional timepieces to display not only a clock but also connect to your mobile device to facilitate app access, call acceptance, and fitness tracking — among other purposes — are predicted to become a key ingredient for increased spend.