Is the Smartwatch Market Shrinking?

According to research firm eMarketer, usage of wearable technology, such as smartwatches, will grow only 11.9% in the next year. Analyst Cindy Liu says in the firm's report, "For this holiday season, we expect smart speakers to be the gift of choice for many tech enthusiasts, because of their lower price points." She then adds, "The wearables market overall is still dominated by health and fitness trackers. We really haven’t seen a wearable device become the next 'must-have' item.