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Wearable Computing Market Trends

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

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Wearable Computing Market Trends

The ongoing research and development have led to innovative use cases for wearable computing, such as augmented reality (AR) glasses, smart clothing, and wearable devices for gaming. For instance, Snap's Spectacles, released in 2022, are AR glasses that allow users to see digital information overlaid in the real world. Snap is using spectacles to power its own AR games, such as Bitmoji Party and Ghost Hunter. In addition, increasing the application scope of wearable technology in remote patient monitoring, chronic disease management, and improving overall healthcare outcomes will drive a higher acceptance rate.

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.