Stay at home orders, furlough, and work from home trends are expected to spur on the industry.
The smart wearable technology industry is expected to surge to $81.5 billion in 2021 due to the coronavirus pandemic. On Tuesday, Gartner said renewed interest in the market has become a catalyst for growth, increasing worldwide spending by 18.1%, in comparison to an estimated overall spend of $69 billion in 2020. Smartwatches and fitness trackers may have secured a larger user base due to stay at home orders, business closures, and furloughs prompted by the spread of COVID-19. However, it is not just individuals that are interested in improving their health and wellness during the pandemic that is spurring the market on — work from home trends, too, are a major contributing factor.
