FitBit, Apple To Trigger Near Tripling Of Wearable Market In 2015

The market for wearable devices is expected to nearly triple in 2015, with Fitbit going public this week and bringing more attention to the sub-$100 fitness tracker market and Apple entering the market with its premium-priced smart watch. The industry is expected to ship 72.1 million units, up 173% from 26.4 million a year ago, according to industry tracker IDC. Shipment volumes are expected to experience a compound annual growth rate of 42.6% over the next five years, reaching 155.7 million units in 2019. While wearables that don't host third-party apps, like the Fitbit, have so far led the market growth, IDC Senior Research Analyst Jitesh Ubrani said he expects smart wearables that do host third-party apps, like the Apple Watch and Microsoft's Hololens goggles, to take the lead in 2016. "Smart wearables ... are indicative of an upcoming change in computing," he said. Shares of Apple increased 0.6% to $128.07 in recent trade, while those of Microsoft increased 0.9% to $46.38. Fitbit debuted on the New York Stock Exchange Thursday morning with an opening price of $30.40, after pricing at $20 a share on Wednesday.