A report from market analysts Gartner has indicated that overall spending on wearable products including smartwatches will rise to $52 billion in 2020.
That's a rise fo 27% compared to 2019, according to the firm's forecasts. This year, spending should reach $41 billion, an already fairly staggering number.
Smartwatches, as you might expect, will comprise the bulk of this volume, with a growth in sales of 34%, continuing the stellar performance of the sector. One stat that should please pretty much any reader of ours, though, is that the increased competition that the market's starting to see is expected to drive prices down for consumers.
With players like Xiaomi and Huawei putting out more and more devices at competitive price points, Gartner's report says that average selling prices for smartwatches will go down by 4.5% between 2020 and 2021.
The report also suggests that Google's on to something smart when it comes to reviving its Project Jacquard smart clothing project. It says that smart clothing spending will grow by 52% in 2020, the sort of numbers that are likely to drive further investment.
Though, we'll reserve judgement on that insight as we've yet to see any smart garment that has convinced us of that surge.
Apple's not getting left behind on the strategy front, though. Its AirPods Pro earbuds are also smartly timed, with the hearables market set to ship 70 million units in 2020, only a short way behind smartwatches on 86 million units.
While increasing build quality and reliability of sensors, along with deductions in the size of tech, is driving some of the market, Gartner's report also indicates that the growth is also largely down to people buying wearables for the first time, as the technology becomes more ubiquitous.
Whatever way you look at these forecasts, it's pointing to another strong year for wearables in 2020.
How we test