The market for smart accessories will experience an unprecedented boom in the near future. At least that's what the analyst company Canalys expects, according to which this market, which includes wearable devices (smart watches and bracelets) and fully wireless headphones, will grow by 32% at the end of this year and by 28% next year.
Canalys estimates that the number of wearable devices and increasingly popular fully wireless headphones will reach 558 million next year and 2024 million by the end of 760.
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According to the company's analysts, wearable devices and headphones have been more resistant to the coronavirus pandemic than smartphones. This is said to be due to the so-called lipstick paradox or effect, which says that consumers in crisis situations buy smaller and less expensive goods to satisfy the need to buy something. During the pandemic, a lot of people's attention focused on the area of health and mental well-being, which benefited brands like Xiaomi, Garmin, Fitbit or Huami.
Looking at market segmentation, the most smart accessories were sold in North America (28%), China (24,2%) and Europe (20,1%) this year. However, analysts estimate that by 2024 this trend will change and that the most smart accessories will be sold in China and the Asia-Pacific region, which is now fourth in the ranking (North America should be third).
