Wearable tech market will triple to $74 billion by 2025

$25 billion to be invested in smart materials by 2025
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The wearable tech market will rise from $24.2 billion this year to $74 billion in 2025, tripling in ten years according to a research forecast by IDTechEx.

IDTechEx has a database of 1,200 companies from around the wearable tech market and it recorded a search interest increase of ten times since the start of 2013. Not to mention $1 billion being invested in wearables in 2014 alone.

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Here in 2015, the report notes that wrist-worn devices such as smartwatches and fitness trackers are the most popular style of wearables, but says that the way forward is to look beyond the wrist and "abandon the 100 year old 'components in a box' approach".

Investing time and money into wearable sensors, e-textiles and developing "smart materials" will be a big part of wearable tech's future with materials like graphene changing everything we think we know about electronics. By 2025, the report estimates that $25 billion will be invested in the development of materials in the wearable tech market.

Back in May we covered an IHS Technology report suggesting that by 2020 there would be 101 million smartwatches globally. And earlier this week we saw Tractica estimating VR revenue alone could be $21.8 billion by 2020.

All these figures look huge next to the modest sales figures of even wearable tech's bestsellers, the Apple Watch, Fitbit trackers and Xiaomi Mi Band - but analysts are in agreement that there's a lot to play for in 2016 and beyond.

What do you think the wearable industry will look like in 2025? Let us know in the comments or over on our Forum.

Wearable tech market will triple to $74 billion by 2025

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