Wearable Spending Forecasted To Increase 27% In 2020

New numbers from Gartner mark another major increase for global wearable spending in 2020. The analyst firm forecasts a 27% jump in end-user spending over this year, from $40.5 billion to $51.5 billion. Once again, the pack is led by smartwatches, which continue to burn the hottest in the space. Interestingly, the increase on smartwatch spending from $17 billion to $22.8 billion will be led by decreasing prices (a 4.5% decrease in average selling prices in 2021). Those are, in turn, the result of a combination of increased competition from Samsung and some external pressure from Fitbit, which has found a sweet spot at around $200 a unit. Chinese manufacturers like Xiaomi have also gone a ways toward decreasing the price on the low end of the market. Read more at TechCrunch.