Smart Wearables Market Report 2025

The smart wearables market size has grown rapidly in recent years. It will grow from $25.94 billion in 2024 to $29.12 billion in 2025 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to resulted from strong economic growth in emerging markets, increased internet penetration, increasing millennial population, increase in internet penetration and greater acceptance of smart technologies.

The smart wearables market size is expected to see strong growth in the next few years. It will grow to $39.19 billion in 2029 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to increasing adoption of 5g networks, increasing smart cities, increasing smart cities and internet of things (IoT). Major trends in the forecast period include investing in ai solutions to provide better and more convenient services, adopting 5G services to enhance sales, improve operational efficiencies, increase customer satisfaction and provide better service to customers, adopting beacon technology to analyze data better, improve operational efficiencies, increase customer satisfaction and provide better service to customers, working on the smart clothing and footwear segment, working on smart rings, and acquiring smaller tech companies that offer niche services to increase their share in the market.

The increasing demand for wireless sports and fitness devices is anticipated to drive the growth of the smart wearables market. There has been rapid adoption of smart devices, such as smartwatches, among cyclists, runners, gym-goers, swimmers, and athletes to track metrics like calories burned, hourly activity, stationary time, and overall activity duration. For instance, in June 2022, the Australasian Society of Lifestyle Medicine, an Australia-based non-profit organization, reported that approximately 500 million smartwatches had been shipped globally, with annual sales projected to surpass 250 million units by 2025. Therefore, the rising demand for smart and wireless fitness devices is expected to significantly boost the smart wearables market.

The surging adoption of the Internet of Things (IoT) is poised to contribute to the expansion of the smart wearables market. The IoT is a networked system that interconnects computing devices, mechanical and electronic machinery, each with unique identities (UIDs), allowing data transfer without requiring direct human-to-human or human-to-computer interaction. In the context of smart wearables, the IoT plays a crucial role by connecting these devices to the internet, facilitating data collection, and enabling remote monitoring for purposes such as fitness tracking and health management. For instance, a report by Ericsson, a Sweden-based telecommunications company, highlighted that global IoT connections reached 13.2 billion in 2022 and are projected to grow by 18% to reach 34.7 billion connections by 2028. Consequently, the increasing adoption of the Internet of Things (IoT) serves as a catalyst for the smart wearables market.

The lack of control over data generated by users through their smart wearable devices limits the growth of the market. Many wearable device privacy policies state that collected data will be shared with third-party vendors, increasing the risk of data breaches. For example, in December 2023, Apple Inc. revealed that user data was exposed online due to an unsecured database containing over 2.6 billion records related to fitness trackers and wearables, posing significant threats to consumer data stored in the cloud. Data breaches have more than tripled from 2013 to 2022, with a notable increase continuing into 2023. Additionally, there was a 70% rise in reported ransomware attacks during the first nine months of 2023 compared to the previous year, surpassing the total number of attacks from all of 2022.

The adoption of smart rings stands out as a prominent trend influencing the trajectory of the smart wearables market. Smart rings are wearable electronic devices equipped with sensors and NFC chips, serving as peripheral tools that assist mobile devices for various purposes, often focusing on monitoring daily activities. As an illustration, in May 2022, Gucci x Oura, a Finland-based fitness tracker company, launched a smart ring priced at $950. Crafted from black PVD-coated titanium, this product offers highly personalized and responsive capabilities, featuring the designer's logo in 18-karat yellow gold along the outer band, contributing to the exploration of self through innovative wearable technology.

Major players in the smart wearables market are strategically developing wearable devices integrated with advanced Snapdragon chipsets to secure a competitive advantage. The incorporation of advanced Snapdragon chipsets in wearable devices enhances overall performance, enabling features such as seamless connectivity, extended battery life, and efficient health tracking. For instance, in August 2022, Oppo, a China-based consumer electronics manufacturer, introduced the Oppo Watch 3, distinguished as the world's first smartwatch featuring the Snapdragon W5 Gen 1 chipset. This smartwatch offers advanced health monitoring capabilities, including a skin temperature sensor, integrated ECG, heart rate sensor, and SpO2 sensor. It boasts an impressive battery life of up to 14 days, compatibility with blood glucose monitors, and support for over 100 sports modes.

In June 2022, Mensa, an Indian-based company, acquired Pebble for an undisclosed amount. This strategic partnership aims to leverage Pebble's online presence, enhance marketing and branding efforts, and strengthen Mensa's position as a leading digital brand in households. Pebble, based in California, specializes in smart wearables.

Major companies operating in the smart wearables market include Apple, Fitbit Inc, Garmin Ltd., Xiaomi, Samsung Electronics Co., Huawei Technologies Co. Ltd., Fossil Group Inc., Qualcomm Inc., Sony Corporation, LG Electronics, Titan, BioTelemetry, Inc, Lifesense, Sotera Wireless, Adidas, Microsoft, Nike, Ava, GymWatch, KardiaMobile, Motiv, My Skin Track UV, Owlet, TempTraq, Withings, InteraXon, Carré Technologies, PUSH.

Smart wearables are electronic devices worn on the body or integrated into clothing. Equipped with sensors, software, and connectivity features, these devices can collect and share data, monitor physical activities, track health metrics, and communicate with other technology. Common examples include fitness bands, smartwatches, and augmented reality glasses.

The primary categories of smart wearables include smartwatches, smart glasses, fitness and wellness devices, smart clothing, and others. Smart clothing, in particular, is an electronic device that interacts with other connected devices, such as smartphones, and the wearer's body. Equipped with various sensors, smart clothing gathers biometric and physical data, such as body temperature and heart rate. This sensor-generated data is transmitted via Bluetooth to relevant apps on a paired smartphone, allowing users to access and view the information. The technologies employed in smart wearables encompass memory and storage technology, speech and pattern recognition technology, communication and networking technology, sensing technology, computing technology, and display technology. These technologies find applications in diverse sectors, including healthcare, consumer smart wearables, defense, fitness and sports, as well as enterprise and industrial domains.

The smart wearables market research report is one of a series of new reports that provides smart wearables market statistics, including smart wearables industry global market size, regional shares, competitors with a smart wearables market share, detailed smart wearables market segments, market trends and opportunities, and any further data you may need to thrive in the smart wearables industry. This smart wearables market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Asia-Pacific was the largest region in the smart wearables market in 2024. North America was the second-largest region in the global smart wearables market analysis. The regions covered in the smart wearables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the smart wearables market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The smart wearables market consists of sales of fitness trackers, smartwatches, VR headsets, activity trackers, smart wristbands, and other smart wearables. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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