International Data Corporation (IDC) Canada has released a new research report which estimates the Canadian wearable device market will ship 1.4 million units by the year end of 2015, an increase from 905,000 2014. Their projected compound annual growth rate from 2015-2019 predicts a growth rate of 32%.
The report overview details smart wearables (such as the Apple Watch) and basic wearables (such as the Fitbit Flex), with wrist-worn devices dominating the total share over the next five years, while eyewear such as smart glasses are said to play a role once they hit the market and the enterprise.
Emily Taylor, Senior Analyst for Consumer Services and Mobility at IDC, said in a statement “The shipment changes for the consumer wearable device forecast in Canada are driven by evolution and innovations in form factors, the expanding functionalities of devices within the Internet of Things, the curation of apps for smart wearables, and new product launches and announcements.”
IDC says they expect average selling prices for wearables overall to hit $257 CAD in 2015, up $85 compared to last year, while increasing to $312 by 2019. The increase “is driven by the Apple Watch” and other smart eye wear devices set to debut in the next few years.