China wearables market to reach $2.6b in 2016: report

People react as they wear Samsung Gear VR goggles at the 2016 International CES, a trade show of consumer electronics, in Las Vegas, Nevada, January 6, 2016.[Photo/IC]

SHENZHEN - Wearable devices are a rapidly growing market in China, bolstered by the growth of the virtual reality (VR) sector, according to a report released at a technology fair, which concluded Monday in the southern Chinese city of Shenzhen.

The market size of wearables is expected to reach 17.94 billion yuan ($2.6 billion) in sales volume in 2016, up 70.2 percent year on year, according to the report released at the 18th China Hi-tech Fair.

The report was issued by China Wearable Computing Innovation and Strategic Alliance, a non-profit industrial organization established in 2014.

Current wearables, such as smart watches, smart glasses and pedometers, are used across many fields such as health, sports and entertainment. An increasing number of VR start-ups have contributed to the market expansion, said the report.

According to mobile Internet consulting agency iMedia Research, the VR market volume in China was 1.54 billion yuan in 2015.

The 18th China Hi-tech Fair from Nov 16 to 21 attracted more than 3,000 exhibitors from 37 countries.