Author: Raskia D'Souza Nikolaos Tzoumerkas
Date Published:
This global wearables market report provides an updated outlook for developments in wearables technologies. Products covered include fitness and connected watches, wearable smartphones, hearables and extended reality head mounted displays, with five-year forecasts.
The report acts as a strategic framework for any enterprise launching wearable tech, or operating within the wearables market and its adjacent sectors.
The wrist-worn wearables market grew by 8% in 2023, reaching a total of 196m unit shipments. The segment had a positive year despite the difficulties of the supply chain in 1H23. By 2028, wrist-worn wearables will have undergone continued expansion, with a double-digit 2024-2028 CAGR forecast.
The issues relating to components shortage are largely fixed. Despite the ongoing cost-of-living crisis, emerging markets positively showcased a wider adoption of wearables.
Smartwatch shipments reached 79m units in 2023, accounting for 5% growth globally, driven by the demand from the developing markets. North America and Western Europe witnessed 2.5% and 5.4% unit growth respectively. The most anticipated features in 2024 are glucose and blood pressure monitoring, which are likely to encourage consumers to upgrade their devices.
| 55-page comprehensive PDF report
| Executive summary
| Enterprise wearables market
| Consumer wearables market
| Wearable device market share
| Wearables ecosystem development
| Wrist-worn wearable market overview
| Hearables market overview
| XR head mounted display market overview
| Market sizing, by quantifying and tracking worldwide sales of wearable technologies in fitness and connected watches, wearable smartphones, hearables, and extended reality head mounted displays.
| Market forecasting, with five-year sales forecasts, reviewing key product types and feature sets.
|Product, technology and competitive reviews, interpreting key market developments and trends.
Futuresource has been tracking, researching and consulting on the CE landscape for the more than 30 years. This publication is one in a series of research reports, produced to provide businesses with a fully rounded view of the market.
Any business with interests in wearables will benefit from this report, particularly:
| Manufacturers and their suppliers
| Intermediaries and supply chain
| Retailers
| CE market strategists, marketing and sales professionals
| Investors
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