Worldwide shipments of wearable devices are expected to reach 101.9 million units by the end of 2016, representing 29% growth over 2015, according to International Data Corp. The market for wearable devices will experience a compound annual growth rate (CAGR) of 20%, culminating in 213.6 million units shipped in 2020.

"Unlike the smartphone, which consolidated multiple technologies into one device, the wearables market is a collection of disparate devices," said Jitesh Ubrani, senior research analyst for IDC Mobile Device Trackers.

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