COVID-19 Causes Wearable Shipments to Plummet by 27 Million Compared to Pre-Pandemic 2020 Forecast
While healthcare wearables are aiding current situations, all wearable device types are expected to see a small amount of increase in the second half of 2020.
Consumer interest in buying non-essential devices dropped in the first quarter of 2020 due to the COVID-19 pandemic, negatively impacting demand for wearables, reports ABI Research. The sector is also dealing with issues associated with a hampered supply chain.
Wearable shipments in 2020 are now expected to be 254 million, down from the previously forecasted 281 million. Although a significant drop, this new COVID-19 impacted forecast is a minor increase from the 241 million shipments in 2019. However, this now puts the estimated year-over-year increase at 5%, compared to 23% between 2018 and 2019 and the previously expected 17% for 2020.