The wearables market grew 8.8% in the first quarter of 2024 compared to Q1 last year. However, the market is continuing to shift towards cheaper models as this was the fifth straight quarter of declining Average Selling Price (ASP).
This insight comes from IDC’s Worldwide Quarterly Wearable Device Tracker. The analysts say that consumers don’t see much point in spending extra cash on premium models and mostly stick to mid-range and entry-level devices, hence the declining ASP.
But once advanced sensors, ones that can measure blood pressure or glucose, hit the market, things will change…
