Wearable AI Global Market Report 2024

The wearable AI market size has grown exponentially in recent years. It will grow from $32.12 billion in 2023 to $41.92 billion in 2024 at a compound annual growth rate (CAGR) of 30.5%. The observed growth during the historical period can be attributed to the introduction of smartwatches, the expansion of fitness tracking devices, an increase in health and wellness awareness, a rise in mobile connectivity, and the development of low-power processors.

The wearable AI market size is expected to see exponential growth in the next few years. It will grow to $120.7 billion in 2028 at a compound annual growth rate (CAGR) of 30.3%. The anticipated growth in the forecast period can be attributed to a surge in consumer interest in wearables, increased integration with smartphones, the expansion of healthcare applications, a rise in remote patient monitoring, the integration of biometric authentication, growth in smart clothing solutions, and the development of wearables for elderly care. Major trends expected in the forecast period include advances in flexible display technologies, advancements in sensor technologies, technological innovations in miniaturization, integration with augmented reality (AR), AI-powered wearable assistants, and the integration of 5G connectivity.

The wearable AI market is poised for growth, driven by the increasing demand for advanced wearable devices. Wearable devices, electronic gadgets integrated into the human body that exchange data with other devices, are pivotal in fostering wearable AI market expansion. They stimulate user adoption, generate substantial data for AI algorithms, and facilitate the seamless integration of AI-driven features, creating heightened demand and market opportunities for wearable AI technologies. For example, Italian Watch Spotter reported an increase in watch exports from 15.7 million in 2021 to 15.8 million in 2022, exemplifying the escalating demand for advanced wearable devices propelling the wearable AI market.

The expanding landscape of telehealth and telemedicine is expected to be a driving force for the growth of the wearable AI market. Telehealth involves using telecommunications technology to provide diverse healthcare services remotely, while telemedicine specifically entails remote clinical consultations and healthcare delivery. Wearable AI contributes to these sectors by continuously monitoring vital signs and health metrics, supplying real-time data to healthcare professionals for remote patient monitoring. This technology enhances proactive healthcare management, facilitates early issue detection, and supports timely interventions without physical presence, thereby enhancing the efficiency and accessibility of healthcare services. In 2021, 37.0% of adults utilized telemedicine, as reported by the Centers for Disease Control and Prevention, showcasing the significant impact of the increasing expansion of telehealth and telemedicine on the growth of the wearable AI market.

A prominent trend in the wearable AI market is technological advancement. Leading companies in the market are adopting innovative technologies to maintain their market positions. For instance, Apollo Neuroscience Inc. launched Apollo Labs in March 2023, introducing the first AI-driven wearable technology that responds to changes in the body rather than merely tracking them. The Apollo wearable transmits low-frequency sound waves, known as Apollo Vibes, which are imperceptible and contribute to restoring the balance of the nervous system. This technology enhances sleep, improves cardiovascular measures, and reduces stress and anxiety levels.

Innovative products, such as wearable devices with gesture and voice-based control, are being developed by major companies in the wearable AI market to gain a competitive edge. Gesture and voice-based controls allow users to interact with devices through physical movements and spoken commands, respectively. For example, Humane launched the Humane Pin in November 2023 - an AI-powered wearable device that operates through voice commands, gestures, and a built-in projector. It connects to AI models through the company's proprietary software, AI Mic, and aims to revolutionize user interaction with AI, potentially replacing traditional smartphones.

In January 2021, Google LLC acquired Fitbit Inc. for $2.1 billion. This strategic acquisition positions Google to enhance the next generation of wearable devices, making them better and more affordable. Fitbit Inc., a health and fitness solutions company, offers wearable AI devices and small wireless sensors.

Major companies operating in the wearable AI market report are Amazon Inc., Apple Inc., Google Inc., Samsung Electronics Co. Ltd., Microsoft Corporation, Misfit Inc., Huawei Technologies Co. Ltd., Sony Corporation, LG Electronics Inc., International Business Machines Corporation, Qualcomm Technologies Inc., Oracle Corporation, Xiaomi Inc., Bose Corporation, Nokia Corporation, Asus, Motorola Solutions Inc., Seiko Epson Corporation, Garmin Ltd., Fossil Group Inc., Razer Inc., Fitbit Inc., TAG Heuer S.A., Zepp Health Corporation, TomTom International B.V., Polar Electro Oy, Suunto Oy, Vuzix Corporation, Aliph Brands LLC, Zephyr Technology Corporation.

North America was the largest region in the wearable AI market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the wearable AI market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the wearable AI market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary types of wearable AI include smart watches, smart eyewear, smart earwear, and others. A smartwatch is a wearable computer that closely resembles a traditional watch or another type of timepiece. Its components include processors, connectivity integrated circuits (ICs), and sensors used for on-device AI operations as well as cloud-based AI operations. Wearable AI devices find applications in various industries, including consumer electronics, healthcare, automotive, military and defense, media and entertainment, and others.

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

The wearable AI market consists of revenues earned by entities through virtual personal assistants, real-time language translation, and personalized health and fitness coaching. The market value includes the value of related goods sold by the service provider or included within the service offering. The wearable AI market also includes sales of fitness trackers, smart clothing, and smart jewelry. 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 (jewelry 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.