Wearable Devices Statistics 2024

Introduction

Wearable Devices Statistics: As of reports, by the end of 2032, the global market size of smart wearable devices is going to reach  $383.5 billion with a CAGR of 15.3% from 2023 to 2032. In recent years, the global market of smart wearables has grown enormously around the world as these electronic devices include several advanced technological features that have enhanced several features in various wearable devices.

This Wearable Devices Statistics includes several analyses of different products of wearable devices from various aspects that provide light on how fast Wearable Devices are growing.

Editor’s Choice

• According to the reports of Statista, the expected market revenue earned by the smartwatch industry is going to reach $45 billion by the end of 2023.
• As of reports, in the 3rd quarter of 2023, Apple is holding the highest share of wearable device unit shipment resulting in 20.2%.
• In 2022, total wearable global shipments accounted for nearly 492.1 million units of which only  Apple shipments resulted in 146.3 million units.
• As of 2026, the total market revenue earned by medical wearables is expected to reach $89.3  million.
• Revenue generated by digital fitness and well-being wearable devices in 2023 is going to be $68  billion.
• According to the reports of IDC research, a global shipment of wearable devices in 2023 is going to reach 442.7 million with a growth of 6.3%.
• By the end of 2026, in the United States, more than 100 million wearable devices will be connected to the internet.

General Wearable Devices Statistics

• The global market size of wearable technology is supposed to reach its peak resulting in  $322654.73 million by the end of 2028 with a CAGR of 16.35% from 2022 to 2028.
• According to Statista Consumer Insights, in the United States, 41% of households own wearable devices by September 2023.
• As to Statista survey reports, in China, 42% of survey respondents have claimed that they are using wearable devices such as smartwatches and fitness trackers for their personal use in 2023.
• According to the reports of Strait Research by the end of 2029, the overall market of the wearable industry is expected to reach $10.3 million.
• In the United States, 21% of people will regularly wear smartwatches and fitness trackers in  2023.
• By the end of 2026, the global market size of wearable healthcare devices is predicted to reach $30 billion and $61 billion by the end of 2032.
• As of 2023, total shipments of wearable products are expected to be 519.83 billion.
• As of reports 2023, wearable devices statistics by gender classification are women (25%), and men (18%) in the United States.

Wearable Devices Statistics by Companies

(Reference: statista.com)

• As of the above graph analysis, in the 1st quarter of 2023 market share of global wearable unit shipments is followed by Apple (21.5%), Xiaomi (7.8%), Huawei (7.3%), Samsung (7.2%), Imagine marketing (7.5%), and others (48.7%).
• Whereas, in the 3rd quarter of 2023 the market share of wearable by companies is followed by  Apple (20.2%), Xiaomi (7.8%), Huawei (5.7%), Samsung (7.2%), Imagine marketing (9.2%), and others (49.4%).

Wearable Devices Statistics by Products

(Reference: idc.com)

• According to the reports of IDC research, a global shipment of wearable devices in 2023 is going to reach 442.7 million with a growth of 6.3%.
• As of 2023, Earwear is going to be the highest shipped product resulting in 325 million units with a market share of 62.1% across the globe.
• The second highest shipped product is the Smartwatch is expecting 162.2 million unit shipments with a market share of 31%.
• The global shipment unit of wristbands is going to be 33.8 million with a market share of 6.5%.
• Whereas, the rest other products of the wearable devices are going to ship 2.2 million units with a less market share of 0.4%.
• By the end of 2027, predicted shipment units and market share of these products are followed by Earwear (404 million and 62.7%), Smartwatch (205.3 million and 31.9%), and Wristband (31.7
  million and 4.9%).

Global Wearable Devices Statistics by Shipment

(Reference: cdn.idc.com)

• The overall wearable devices are segmented into different products such as smart clothing, smart Earwear, smart glasses, smartwatches, wristbands, etc.
• As of 2023, total shipments of wearable products are expected to be 519.83 billion.
• Whereas, in coming years total shipment units are followed by 2024 (548.76 billion), 2025 (579.18 billion), 2026 (605.42 billion), and 2027 (625.39 billion).

Wearable Devices Statistics by Users

(Source: insiderintelligence.com)

• As of the above graph analysis, in the United States total Smart wearable users are estimated to reach 89.6 million by the end of 2023 which is 26.4% of the total population and the change percentage is 5.3% from last year.
• Whereas by 2024, the total number of wearable users in the U.S. is 93.5 million which is 27.4% of the total population, and user change share is 4.4% from 2023.
• Furthermore, in 2025 and 2026 total numbers of wearable users are 96.9 million and 100.2 million respectively.

Wearable Technology Statistics

• The global market share of wearables is estimated to grow by $62.81 billion from 2023 and  $126.02 billion by the end of 2027.
• As of reports, by the end of 2023 market size of wearable technology is going to reach at a CAGR of 14.8% of CAGR.
• The North American region is holding the highest market share with 41% by the end of 2023.

Wearable Devices Statistics by Demographics

(Source: straitsresearch.com)

• As of reports 2023, wearable devices statistics by gender classification are women (25%), and men (18%) in the United States.
• Based on ethnicity the wearable devices statistics are followed by Hispanics (26%), Blacks (23%),  and Whites (20%).
• Most users of wearable devices based on age group are followed by 18 years to 49 years (25%), and above 50 years (17%).
• Average income level statistics of wearable device users share are followed by $75,000 (31%),  $30,000 to $74,999 (20%), and less than $30,000 (12%).

Wearable Devices Statistics by Region

(Reference: statista.com)

• According to Statista, by the end of 2022 highest number of connected wearable devices is observed in the North American region resulting in 439 million.
• Furthermore, numbers of connected wearable devices statistics by region around the world are  followed by Central and Eastern Asia Pacific (311 million), Western Europe (192 million), Europe
  (68 million), Latin America (49 million), Middle East and Africa (46 million).

Wearable Devices Statistics by Hearable

• According to the report's analysis of global data, the market value of wearables accounted for  $91.6 billion in 2022 and is expected to reach $137.5 billion by the end of 2026 with a CAGR of  18.8%.
• Based on end-users, by the end of 2026 highest usage share of hearables in the industrial sector with a CAGR of 34.20% from 2019 to 2026.
• Headphone preference shares are followed by Over-ear headphones (74%), on-ear headphones  (7%), wired headphones or earbuds (10%), and true wireless earbuds (9%).

(Source: researchandmarkets.com)

• As of the above graph analysis, the market size of smart headphones is going to reach $11.12 billion by 2023 and $24.45 billion by the end of 2027 at a CAGR of 21.8%.
• By the end of 2029, the market value of the industry is expected to reach above $2826.5 million with a CAGR of 3.4% from 2023 to 2029.

Wearable Devices Statistics by Smartwatch

• Total shipments of Apple smartwatches increased in August 2023 resulting in over 30 million units around the world.
• As of the above graph analysis, the market size of North American Smart Watch is expected to reach around $39.75 billion in 2023 and $85.71 billion by the end of 2028 with a CAGR of 16.61%.
• As of 2023 reports, the highest revenue generated by China’s smartwatches market is expected to reach $16,920 million.

(Reference: sammyfans.com)

• As of 2023 reports, the market of Apple Smartwatch is expected to be 32% of the share.
• In 2023, Samsung OS Smartwatch brands are termed as the world’s best-selling wearable with a  market share above 10% around the world.
• As of the above graph analysis, in 2023 market share of top manufacturers of Smartwatches is followed by Huawei (7%), Garmin (4%), Fitbit (1%), and others (46%).

Wearable Devices Statistics by Smart Glasses

• According to Mordor Intelligence report analysis, the global market size of smart glasses by 2023 is going to reach $2.25 billion.
• Whereas, by the end of 2028 the overall market size is expected to reach almost $6.08 billion with a 22.03% CAGR.
• According to Statista, total smart glasses sales are expected to reach 2.11 million units by 2023 and 3.9 million units by 2024.
• The highest usage of smart glasses in 2023 is going to be held by the North American region with a 32% share.
• Whereas other usage shares stats by regions are followed by Europe (31%), Asia Pacific (25%), Latin America (8%), and Middle East and Africa (4%).

Wearable Devices Statistics by Smart Clothing

• According to the reports of Market and Market, the overall market size of clothing is expected to reach $5.3 billion by the end of 2024 with a CAGR of 26.2% from 2019 to 2024.
• As of reports, by 2032 the market valuation of sports clothing is expected to reach $7.2 billion.
• From 2022 to 2032, the market share of smart clothing is expected to CAGR in China (14%), U.S.  (18%), India (12%), and France (10%).
• Based on product type, the sale of smart shirts is going to account for the highest share with a CAGR of 14% from 2022 to 2032.
• Whereas, the highest market growth in 2022 was accounted by the North American region resulting in $1.8 billion, and is expected to reach a CAGR of 10% by 2032.
• On the other hand, the fastest growing market is expected to reach a CAGR of 14%, and Europe with 12% by the end of 2032.

Wearable Devices Statistics by Fitness Tracker

• According to the reports of Statista analysis, revenue earned by the worldwide market of fitness trackers is expected to be $67.23 billion by the end of 2023.
• In 2023, China earned the highest revenue in the fitness-tracker market around the world with almost $23.15 billion and $38.38 billion by the end of 2028 with a CAGR of 10.64% from 2023 to  2028.
• Users of fitness trackers around the world by age are followed by 18-25 years (11%), 26-35 years  (20%), 36-46 years (20%), 45- 55 years (21%), 56-65 years (19%), 66-75 years (8%), and above 76  years (2%).
• As of reports, in 2023 Apple fitness tracker market has accounted for the highest share resulting in 36.1%.
• Whereas, other statistics by brands are followed by Samsung (10.1%), Huawei (7.2%), Xiaomi (5%), Garmin (4.3%), Amazfit (4%), imoo (3.4%), Fitbit (2.7%), and others (27.2%).

Wearable Devices Statistics by Smart Jewelry

• As Customer Market Insights reports, as of 2023 the market share of smart jewelry is expected to reach $229.98 million and $458.8 million by the end of 2030 at a CAGR of 10.3%.
• Across the global smart jewelry market based on application, the activity tracker segments accounted for a market share of 36.06%.
• On the other hand, the Android operating system is going to account for the fastest revenue share at a CAGR of 8.74% from 2022 to 2030.

Conclusion

As of today, looking at the Wearable Devices Statistics, it is clear that the market is growing rapidly around the world due to growing consumer demand for technological advances, mobile phone popularity, and awareness about health and fitness.

After the COVID-19 pandemic, now people around the world are in search of several smart devices for balancing out their lives as well as their health. This article includes several statistical analyses that are described elaborately above and hope will help in understanding the topic better.

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