Overall wearable device revenues are set to achieve double-digit growth this year with smartwatches poised to capture the biggest slice of the global revenue pie. While fitness bands will lead in terms of units-shipped, ASPs will be held back by continued strong sales of Xiaomi and other ultra-low cost bands in Asia.

By region, Asia Pacific took the lead in wearables volume share in 2015, and will overtake North America in value share this year. By 2022 we predict total wholesale wearable devices revenues will top US$45 billion, driven primarily by smartwatches that will be aided by the major operating systems and their benefactors.

We believe that betting on the long term dominance of fitness bands is akin to putting all of your chips on feature phones a decade ago!

Our brand new report significantly expands our forecasting capability, adding detailed revenue forecasting by device, by price-tier, by region. Clients of Strategy Analytics' Wearables research service can download the full report here.