Video: Wearables Sector to Grow Beyond Fitness, Reaching $70B by 2024
The big boom in the wearables sector will continue to expand over the next decade beyond fitness and into sectors. Right now, one-third of U.S. consumers age 16 and older are interested in buying a wearable device, according to NPD Group. Many already use a wearable device like the Apple (AAPL) Watch or Fitbit (FIT) and the number of owners of gadgets is expected to grow significantly. The total value of the sector is expected to increase five-fold within the next 10 years, reaching $70 billion by 2024, according to IDTechEx. S&P Capital IQ analyst Angelo Zino says the space will start to evolve to include more healthcare features, which will become a critical part of the wearables evolution in the coming years. TheStreet's Kurumi Fukushima reports in New York.
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