Wearable devices usually have smart sensors and are connected to the Internet for data exchange. The wearable market is promising, as the number of connected wearable devices worldwide is expected to jump from an estimate of 325 million in 2016 to over 830 million in 2020.
The US wearable tech market is set to almost double by 2022 as “critical mass adoption” takes place. Analyst firm ‘Forrester’ states that wearables will grow from a $4.8 billion industry last year to just over $9 Billion in 2022, representing a CAGR of 9 % from 2017 to 2022.
The company forecasts that smartwatches will lead the way, increasing from 21% of all wearable tech devices sold in 2016, to a 51 % share in 2022.
The adoption of smartwatches has revolutionized watches to possess the characteristic of being multifunctional – they allow you to be able to call or text contacts, make mobile payments, stream music, receive notifications, check social media feeds, check on news etc. as opposed to their analog counterparts. Smartwatch popularity continues to be on the rise and if the users want their smartwatch to stand out from the crowd, a customized watch face of their own choice is the way to go, provided they have the right application installed.