Home > Media & Technology > Information Technology > Cloud Computing > Wearable Computing Market

Wearable Computing Market Size

Report ID: GMI6352
Published Date: Jul 2023
Report Format: PDF

Download Free Sample

Wearable Computing Market Size

Wearable Computing Market was valued at USD 56.2 billion in 2023 and is anticipated to grow at a CAGR of over 19.5% between 2024 and 2032, propelled by the rapid integration of AI and voice assistants in wearable devices. Integration with artificial intelligence (AI) and voice assistants has expanded the functionality of wearable devices, offering personalized experiences and seamless interactions.

To get key market trends

Download Free Sample

Additionally, continuous advancements in wearable computing technologies, such as improved sensors, longer battery life, and miniaturization, have expanded the capabilities and appeal of wearable devices to consumers and businesses alike, driving the wearable computing industry.

Wearable Computing Market Report Attributes
Report Attribute	Details
Base Year:	2023
Wearable Computing Market Size in 2023:	USD 56.2 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	19.8%
2032 Value Projection:	USD 281.5 Billion
Historical Data for:	2018 – 2023
No. of Pages:	300
Tables, Charts & Figures:	266
Segments covered:	Product Type, Technology, End-Use
Growth Drivers:	Growing fitness and health consciousness among people Increasing fashion and style trends Rising advancements in technology Integration of IoT in wearable devices Growing inclination of aging population towards wearable devices
Pitfalls & Challenges:	Concerns over accuracy and reliability High cost of wearable devices

Learn more about the key segments shaping this market

Download Free Sample

The increasing focus on health and fitness has driven the demand for wearable devices that can track activities, monitor vital signs, and provide personalized health insights. As a result, smartwatches and fitness trackers, which offer features like heart rate monitoring, GPS tracking, and smartphone integration, are becoming increasingly popular. Companies operating in this space are making the most of this opportunity and innovating new products.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of wearable computing was reached USD 56.2 billion in 2023 and is estimated to exhibit about 19.5% CAGR from 2024 to 2032, owing to the rapid integration of AI and voice assistants in wearable devices.

The display technologies segment captured more than 57% share of the wearable computing market in 2023 and may depict appreciable growth from 2024 to 2032, as it allows users to monitor their health statistics, notifications, and other important health information in real-time.

North America wearable computing market held approximately 35% of the market share in 2023 and is expected to expand at significant pace by 2032, owing to the high consumer tech adoption rate, health-conscious culture, and affinity for fitness & wellness.

Apple Inc., Fossil Group Inc., Garmin, Google LLC, Huawei Technologies Co., Ltd., LG Electronics Inc., Nike, Pebble Technology Corporation, Samsung Electronics, Sony Corporation and Xiaomi Corporation.