The wearable tech industry was worth $117,4-billion in 2024 and is forecast to reach $232,2-billion by 2030, with hearables and smartwatches as key growth drivers, supported by strong demand for health monitoring and artificial intelligence (AI) tools, according to GlobalData.
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.
Pinky Hiranandani, strategic intelligence analyst at GlobalData, comments: “AI is transforming wearable devices from basic trackers into smart, context-aware assistants that offer personalised health insights, wellness advice, and seamless integration into digital ecosystems.
“The next wave of wearables promises even greater personalization, anticipating user needs, surfacing reminders, and transforming from passive into active health partners.”
The wearable tech 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.
Hiranandani adds: “Companies with robust hardware-software ecosystems (for example 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.”
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.
These devices aimed to be always-on, voice-first assistants, but were held back by poor performance (for example, poor voice recognition in noisy environments), limited ways to interact (no visual or touch support), and short battery life.
Hiranandani concludes: “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.
“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, summarise content, and even anticipate user needs.”