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UK wearables market to be worth £313m by the end of the year

In case you haven’t heard, wearables are now a pretty big deal. One new study has even suggested the wearables market could be worth £313.6 million in the UK alone by the end of the year.

A figure which would mark a 182 per cent year-on-year valuation rise, the UK wearables space will reportedly be driven largely by the adoption of fitness trackers and smartwatches – no surprises there then.

While wearable adoption has been on the rise throughout 2014, it is believed the upcoming Christmas period will act as the main driving force behind increased uptake.

According to the latest research, carried out by key smartwatch player Samsung, a massive £104.7 million will be spent on wearables in the UK this festive period.

The wearables market has exploded over the past 12 to 18 months with some incredibly exciting and innovative products entering the market,” Andy Griffiths, President of Samsung UK, said.

“As the benefits wearable technology can offer become better understood, it is natural that the sales within this sector will grow.”

With the rest of the developed world all jumping on the wearables bandwagon, it has been suggested that the UK will lead the way in Europe.

The study has predicted that the growing wearables interest will see a staggering 1,028,800 units snapped up on British shores this year.

A breakdown of adoption shows that almost half a million of these will be fitness and activity trackers such as the Nike FuelBand SE or the Jawbone UP24.

The second most popular wearables sector will be healthcare devices followed by smartwatches, thanks in large to the likes of the Moto 360 and Samsung Gear S.

Further product sectors contributing to the rapid growth include smart glasses such as Google Glass and smart cameras like the Autographer.

Addressing the growth of the market, Griffiths added: “We are delighted to see predictions of 121 per cent growth and sales reaching €395 million in the UK alone by the end of this year.

“At Samsung, we are passionate about bringing to market products that enhance peoples’ lives and hope that as we continue to innovate in the exciting wearables space that our products will continue to excite and engage people.”

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