Delray Beach, FL, Aug. 12, 2025 (GLOBE NEWSWIRE) — The report “Wearable Technology Market by Product (Smart Watch, Fitness Tracker, AR/VR, Smart Clothing & Footwear, Earwear, Exoskeleton, Smart Glasses, Smart Ring, Smart Helmet), Operation (AI-Based, Conventional), Type (Active, Passive) – Global Forecast to 2029″ The global wearable technology market is expected to be valued at USD 70.30 billion in 2024 and is projected to reach USD 152.82 billion by 2029; it is expected to grow at a CAGR of 16.8% from 2024 to 2029.
Demand for wearables that integrate all computing requirements in one compact device will fuel the market growth. Adoption of wearables in multiple applications. Data-driven performance optimization in sports through real-time monitoring of athlete metrics is pushing the adoption of wearable technology. Growing integration of AR/VR and affordable designs is providing opportunities for wearable technology market growth.
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Major Key Players in the Wearable Technology Industry:
- Apple Inc. (US),
- Garmin Ltd. (US),
- SAMSUMG (South Korea),
- Sony Group Corporation (Japan),
- Huawei Technologies Co., Ltd. (China),
- LG Electronics. (South Korea),
- Alphabet Inc. (US),
- Microsoft (US),
- Lenovo (Hong Kong), among others.
Wearable Technology Market Segmentation:
Consumer electronics application to hold the highest market share during the forecast period.
Consumer wearables include wearable devices for different applications, ranging from entertainment and multimedia to garments and fashion. The reason behind the growth of the market is accelerated by growing consumer interest in tracking fitness-related activities. Moreover, tremendous growth of low-cost consumer wearable devices, due to downsized multifunctional ICs and sensor technology, is driving its adoption. Because the sensors are small in size and have advanced integration technologies, they can be fitted in a variety of accessories such as wristbands, wristwatches, eyeglasses, clothing, caps, socks, shoes, headphones, and smartphones.
By Operation, AI-based segment is projected to grow at a high CAGR of wearable technology market during the forecast period.
AI-based wearable operations are likely to maintain the highest CAGR in the wearable technology market, because these technologies bring advanced and revolutionary capabilities to offer personal experiences. Using AI, devices will not only enable the user for real-time insights into health, but also predictiveness, respond to the patient’s behaviour patterns, biometric monitoring capabilities that become more accurate and sophisticated personal assistance, or automated health anomalies identification. Integration of AI into devices also increases the efficiency of the device, prolongs battery life, and enables natural language processing to make better user interactions.
Asia Pacific will account for the highest CAGR during the forecast period.
Wearable technology market in the Asia Pacific region continues to grow strongly with several factors. Higher smartphone penetration and greater internet access enable higher adoption of wearables. Health awareness and an ageing population drive up demand for fitness trackers and health-monitoring wearables. Further, miniaturization of devices and enhancements in battery life make it more user-friendly and appealing. The tech-friendly young population is adopting smartwatches and other wearables just as an accessory for fashion. The government focus on smart cities and digital health is also creating a supportive environment to permit growth in the market. A substantial percentage of manufacturing bases are present in countries like China and South Korea to produce cost-effective products and create innovative designs in wearable technology.
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Attractive Opportunities in the Wearable Technology Market
- The growth of this market can be attributed to the increasing growth prospects of next-generation displays in wearable devices.
- Product launches are expected to offer lucrative growth opportunities for market players in the next five years.
- The wearable technology market for AI-powered segment is expected to grow at the highest CAGR during the forecast period.
- The market growth in North America can be attributed to significant developments, particularly in consumer electronics and healthcare applications.
AI/Gen AI Impact on Wearable Technology Market
There is improved application accuracy, speed, and efficiency in wearable technology by incorporating various Al algorithms, including deep learning, neural networks, and machine learning. Some crucial machine learning approaches include artificial neural networks (ANN), support vector machines (SVM), deep neural networks (DNN), and genetic algorithms (GA), all of which need to be used to treat the complex challenges identified in treating wearable devices. Verizon’s 2023 Data Breach Investigations Report claimed that 68% of breaches happened through non-malicious human errors, while 62% of financially motivated breaches involved ransomware or extortion, with an average loss of USD 46,000 per incident.
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