Global Wearable Tech Market to Nearly Double by 2030

Wearable technology is on the verge of explosive growth.

The global market for wearables is expected to nearly double by the start of the new decade, going from $117.4 billion in value in 2024 to $232.2 billion by 2030, according to GlobalData. Hearing-related products and smartwatches are likely to be key growth drivers as demand swells for health monitoring and artificial intelligence (AI) tools.

GlobalData’s latest Strategic Intelligence report, “Wearable Tech (2026),” reveals that smart glasses will be the fastest-growing segment through 2030, driven by broader device availability, expanding consumer and enterprise use cases, and multimodal AI capabilities. Emerging form factors such as smart rings will gain traction, potentially displacing traditional fitness trackers, while augmented reality (AR) and virtual reality (VR) headsets will continue to face adoption constraints due to high prices, bulky designs, and a lack of compelling use cases.

“AI is transforming wearable devices from basic trackers into smart, context-aware assistants that offer personalized health insights, wellness advice, and seamless integration into digital ecosystems,” GlobalData Strategic Intelligence Analyst Pinky Hiranandani said. “The next wave of wearables promises even greater personalization, anticipating user needs, surfacing reminders, and transforming from passive into active health partners.”

The wearable technology landscape is rapidly evolving, with leading electronics companies diversifying their portfolios and strategically repositioning themselves to capture emerging opportunities. While companies such as Samsung Electronics are aggressively expanding their hardware lineup, entering the smart ring market in 2024 and AR headset market in 2025, companies such as Microsoft are shifting away from hardware. Microsoft discontinued its HoloLens 2 headset in 2024, signaling a pivot from hardware to a focus on mixed reality (MR) software and services.

“Companies with robust hardware-software ecosystems (e.g., Apple, Samsung Electronics) and the ability to innovate quickly are better positioned to succeed in the wearable tech market in the next three to five years,” Hiranandani added.

First-generation AI wearables have struggled to meet expectations, despite early hype and investment. Devices like the Humane AI Pin and Rabbit R1 duplicated functions already available on smartphones and smartwatches, without offering a better experience.

“Although the long-term outlook remains positive, AI wearables will not take off as standalone products soon. Instead, AI features will be integrated into existing devices like smartwatches, hearables, and smart glasses,” Hiranandani concluded. “As LLMs become faster and more capable of processing multiple types of input (voice, text, visuals), wearables will evolve from passive tools into active assistants. They will be able to surface reminders, summarize content, and even anticipate user needs.”

GlobalData operates an intelligence platform that empowers leaders to act decisively in a world of complexity and change.​ The firm’s solutions are used by more than 5,000 organizations across the world’s largest industries, delivering tailored intelligence that supports strategic planning, innovation, risk management, and sustainable growth.