Hearables Propel the Wearables Market in the Second Quarter in Response to New Demands and Opportunities, According to IDC

By AIT News Desk On Aug 31, 2020

The market for wearable devices grew 14.1% during the second quarter of 2020 (2Q20), thanks to strong demand for hearables and continued interest in tracking health metrics during these dire times. While the total market ballooned to 86.2 million units during the quarter, the growth was unevenly spread across the various form factors according to new data from the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker.

“Hearables show much stronger and broader demand than smartwatches and fitness trackers,” said David Myhrer, research vice president for IDC’s Consumer Technology Strategy Service. According to data from IDC’s U.S Consumer Technology Purchase Index survey, self-reported consumer spend in the U.S. on hearables built throughout the quarter and into July, up 7% over the April benchmark. Comparable self-reported spend on smartwatches and fitness trackers was down by about a third.

“The data make it clear just how discretionary a purchase smartwatches and fitness trackers are. Demand among those with low incomes has dried up almost completely. Meanwhile, consumers at the top of the market remain bullish,” added Myhrer.

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“Around the world, many organizations have also started to use wearables to help the fight against COVID-19,” said Jitesh Ubrani, research manager for IDC Mobile Device Trackers. “Not only are wearables being used to track symptoms, but also to warn wearers when social distance isn’t being maintained.”

Lastly, the wearables market has benefited from COVID-19 as many vendors have seen an uptick in services. “Health continues to be at the forefront of use cases for wearables, but with gyms closing and outdoor activities limited, users have opted for online or in-app fitness sessions and this has ultimately helped vendors to ramp up the services side of their wearables businesses,” said Ubrani.