With 41.8 million units sold and an annual growth rate of 67% in 2016, smartwatch is expected to sustain an annual growth rate of 50% and achieve a sales volume of 62.7 million units in 2017 whereas the forecasted sales volume for smart wristband is 57.4 million units, according to Taipei-based IT research institute MIC (Market Intelligence & Consulting Institute),

Taiwan Wrist Wearable Shipment Volume, 1Q 2016 – 4Q 2017

Source: MIC, April 2017

"The strong growth can be mainly attributed to the ICT and watch companies' devotion in smartwatch development. Other reasons may include smart wristband vendors joining the playing field, and the general public becoming more aware of smartwatches. As a result, the ASP for wrist wearables is on the rise, in turn expanding the overall market," says Ian Wang, industry analyst with MIC.

To see more about this report, please visit: Development of the Global Wrist Wearable Industry, 2017 and Beyond; The Taiwanese Wrist Wearable Industry, 1Q 2017

For future receipt of press releases, or more information about MIC research findings, please contact MIC Public Relations.

About MIC

Market Intelligence & Consulting Institute (MIC), based in Taipei, Taiwan, was founded in 1987. MIC is Taiwan's premier IT industry research and consulting firm providing intelligence, in-depth analysis, and strategic consulting services on global IT product and technology trends, focusing on markets and industries in Asia-Pacific. MIC is part of the Institute for Information Industry. https://mic.iii.org.tw/english