Independent industry analysts, International Data Corporation, in their recent publication Worldwide Quarterly Wearable Device Tracker, report significantly increased forecast data of worldwide wearable device shipments in 2015 and for the next 5 years.
·72.1 million wearable devices will be shipped in 2015, up 173.3% from the 26.4 million units shipped in 2014
·Shipment volumes are expected to experience a Compound Annual Growth Rate of 42.6% over the five‐year forecast period, reaching 155.7 million units shipped in 2019
·The launch of the Apple Watch has contributed to the excitement around wearables, but according to IDC the overall wearables market will be driven by a combination of new vendors, new devices and greater end‐user awareness.
·According to Jitesh Ubrani, senior research analyst, Worldwide Mobile Device Trackers, “We expect smart wearables, those capable of running third party apps, to take the lead in 2016. Smart wearables like the Apple Watch and Micosoft's Hololens are indicative of an upcoming change in computing, and the transition from basic to smart wearables opens up a slew of opportunities for vendors, app developers and accessory makers."
·The Wearables industry is still a nascent industry in Australia.
·Nuheara is the only Australian wearables company to be invited to speak at this year’s Wearable Technologies conference in San Francisco.
·According to Mr Cannington “Our goal is to build a very successful Wearables company that was born in Australia but has a strong global presence and brand.”
WAC Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
