NEW YORK , Jan. 30, 2025 /PRNewswire/ -- Report on how AI is redefining market landscape - The global wearable technology market size is estimated to grow by USD 99.4 billion from 2025-2029, according to Technavio.
The market is estimated to grow at a CAGR of over 17.3% during the forecast period. Popularity of wearable devices as a payment method is driving market growth, with a trend towards development of low-power electronics.
However, rising penetration of counterfeit products poses a challenge. Key market players include Apple Inc., ASUSTeK Computer Inc.
, BAE Systems Plc, CINOPTICS, Citizen Watch Co. Ltd., Elbit Systems Ltd.
, Garmin Ltd., Google LLC, Huawei Technologies Co. Ltd.
, Kopin Corp., Lenovo Group Ltd., LG Corp.
, Magic Leap Inc., Misfit Inc., Polar Electro Oy, Samsung Electronics Co.
Ltd., Sony Semiconductor Israel Ltd., Tex Ray Industrial Co.
Ltd., Vuzix Corp., and Xiaomi Inc.
. Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF The wearable technology market is experiencing significant growth, with smartwatches, swimmers, cyclists, runners, gym-goers, and athletes among the key consumer groups.
Smart clothing and IoT-based apparel are also gaining popularity. Healthcare is a major sector, with smart wearables offering real-time health monitoring for patients and healthcare providers. Counterfeit products pose a challenge, but consumer electronics companies are innovating with elect.
