Wearable device shipments to grow over five-fold by 2018, study says

The wearable device shipment will reportedly grow to 111.9 million in 2018 from an estimated 19 million units in 2014, IDC research has revealed.

According to Cnet, between now and 2018, wearable shipments will generate a 78.4 percent compound annual growth rate, eventually hitting 111.9 million worldwide shipments in 2018 alone.

Wearable technology has already started to make its presence felt in the gadget market with leading brands offering different wearable devices.

While IDC expects more companies to come up with their own wearable devices, IDC said that smart wearable vendors must convince users to shift to a new user experience while offering them a robust selection of third-party applications.