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Worldwide shipments of wearables to surpass 200 million

Worldwide shipments of wearable devices are expected to reach 110 million by the end of 2016 with 38.2% growth over the previous year.

According to the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Worldwide wearables forecastTracker, an expanding lineup of vendors combined with fast-growing consumer awareness and demand will generate double-digit growth throughout the 2015-2020 forecast period, culminating in shipments of 237.1 million wearable devices in 2020.

The market will also be driven forward by the proliferation of new and different wearable products. Watch and wristband shipments will reach a combined total of 100 million shipments in 2016, up from 72.2 million in 2015. Other form factors, such as clothing, eyewear, and hearables, are expected to reach 9.8 million units in 2016 and will more than double their share by 2020. This will open the door for new experiences, use cases, and applications going forward. Still, the primary focus of the wearables market will be on smartwatches.

“Although smartwatches like the Apple Watch or Android Wear devices capture the spotlight, they will only account for a quarter of all wearables in 2016 and will grow to about a third by 2020,” said Jitesh Ubrani, Senior Research Analyst for IDC Mobile Device Trackers. “It’s time to start thinking about smarter watches — traditional watches with some sort of fitness or sleep tracking but are unable to run apps—built by classic watch makers. These devices have the potential of making the technology invisible while still integrating themselves within day-to-day activities.”

Meanwhile , MasterCard and WISeKey announced that MasterCard contactless payment capability will be embedded within the first-ever “intelligent mechanical luxury watch” – the Bulgari Diagono Magn@sium. This major innovation comes one year after the presentation at Baselworld 2015 of the innovative luxury watch, which Bulgari has now fully developed and industrialized for a potential market introduction before the end of the year.

Utilizing WISeKey cyber security technology, the global alliance between Bulgari and MasterCard will enable Bulgari Diagono Magn@sium “intelligent” watch owners to make payments securely at the more than four million retail locations in 74 countries globally that accept MasterCard contactless transactions.

The payment capability complements the secure access functions being embedded in the Diagono Magn@sium powered by WiseKey’s cyber security technology. The secure access functions allow watch owners to unlock the BVLGARI Vault Application, which provides a unique user experience that protects personal digital assets encrypted on consumer smartphones or tablets by storing encrypted replicas of them in a secure cloud buried in a Swiss military bunker, somewhere in the Alps. Additional secure access functions planned by Bulgari include the ability to open select automobile doors, Bulgari hotel doors and other participating partners’ products.

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