Sales of sports-related smart gear expected to rise

Sales-of-sports-related-smart-gear-expected-to-riseIn 2021, the number of sports-related connected objects already owned by consumers is expected to reach more than 77 million, compared with 75 million in 2015, representing an annual growth rate of 37.7%, according to a study from IDATE DigiWorld, a European think tank focusing on the digital economy.

The market is largely driven by the watch segment, where annual sales are expected to grow 32% on average between now and 2021.

The sector is buoyed by growing revenues from sport (+95% between 2005 and 2017), increasing demand for components for wearables ($6 billion in 2018) and consumer demand for sports-related objects.

The research also estimates that brands will be driven to develop new service models, such as coaching, video reconstruction, community challenges and games.