Technology

Wearable Technology Market to Grow by USD 99.4 Billion (2025-2029) with Popularity of Wearable Devices as Payment Method Boosting the Market, Report on How AI is Driving Market Transformation – Technavio

Published

1 year ago

February 5, 2025

NEW YORK, Feb. 5, 2025 /PRNewswire/ — Report with the AI impact on market trends – 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..

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Wearable Technology Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 17.3%

Market growth 2025-2029

USD 99.4 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

15.0

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 41%

Key countries

US, Canada, China, Germany, Japan, UK, France, Italy, India, and South Korea

Key companies profiled

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.

Market Driver

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 electronic displays, connectivity, and mobile phone integration. Wearable technologies include fitness bands, AR/VR headsets, and pharma solutions. Older populations benefit from fall detection and gesture controls, while younger consumers drive demand for virtual and augmented reality devices. Wearables offer benefits for chronic diseases like cardiovascular disease and obesity, and fitness enthusiasts and the tech-savvy younger population are key consumers. Data security is a concern, but the benefits of wearable healthcare devices, including health self-efficacy and autonomy, outweigh the risks. The market is expected to grow further with the integration of MEMS sensors, GPS, IMU, and fitness-tracking wearables. The consumer electronics segment is driving technological innovativeness, with digital health technology becoming increasingly important.

The global wearable technology market is experiencing significant growth due to the increasing demand for advanced wearable devices such as smartwatches, smart bands, smart rings, and Head-Mounted Displays (HMDs). To meet this demand, vendors are focusing on developing high-performance and low-power-consumption electronic components. These components, including sensors, processors, and batteries, are essential for enhancing the functionality and efficiency of wearable electronics. By adopting low-power-consumption semiconductors, vendors can create devices that offer extended battery life and improved performance. This trend is expected to continue as the market for wearable technology continues to expand.

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Market Challenges

The wearable technology market is experiencing significant growth with various segments like smartwatches, swimmers, cyclists, runners, gym-goers, smart clothing, IoT-based apparel, and more, catering to athletes, adventure lovers, and sports enthusiasts. Challenges include counterfeit products, wristwear, eyewear and headwear, footwear, neckwear, body wear, and health monitoring solutions. The market comprises consumer electronics, fitness bands, AR/VR headsets, and pharma, telehealth solutions, medical practice, surgical training, and health monitoring devices. Benefits include real-time health monitoring, IoT-enabled garments, and technological innovativeness. Consumers, patients, healthcare providers, and doctors use these smart wearables for disease management, health event detection, and fitness tracking. Wearable technologies include small sensors, MEMS sensors, GPS, IMU, and fitness-tracking wearables. Data security issues are a concern, but the benefits of improved health self-efficacy, health and autonomy, and technological literacy outweigh the challenges. The market is driven by the younger population’s purchasing power and the benefits of connected devices in clinical and non-clinical data collection. The consumer electronics segment, digital health technology, and MEMS sensors are key players in this market.The global wearable technology market faces a challenge from the rising prevalence of counterfeit devices. Major brands like Apple, Samsung, Fitbit, and Xiaomi have counterfeits of their popular products, such as smartwatches and smart bands, flooding the market. These counterfeits are predominantly manufactured in APAC regions due to the availability of low-cost labor and established counterfeit markets. Consumers, both knowingly and unknowingly, are purchasing these cheaper alternatives, negatively impacting the market growth for authentic wearable technology products.

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Segment Overview

This wearable technology market report extensively covers market segmentation by

ProductWrist-wearEyewear And HeadwearFootwearNeckwearOthersApplicationConsumer ElectronicsHealthcareEnterprise And IndustrialEntertainmentOthersGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And AfricaConnectivityWi-FiBluetoothCellularNFCTechnologyComputingDisplayNetworkPositioning

1.1 Wrist-wear- Wrist-wear devices, including smartwatches and smart bands, have gained significant traction in the market due to their functionality and convenience. Smartwatches, such as those from Apple, Samsung, Garmin, and Fitbit (a subsidiary of Alphabet Inc.), offer features like call and messaging capabilities, health monitoring, and quick access to smartphone apps. Following the success of the Apple Watch, numerous Original Equipment Manufacturers (OEMs) have entered the market with competitive pricing and similar fitness and health-related functionalities. Strategic collaborations and partnerships enable vendors to enhance product offerings with innovative features and advanced technologies. For instance, Xiaomi’s Poco brand launched its first smartwatch, the Poco Watch, with heart rate and blood oxygen level monitoring, a 225mAh battery, and a 5 ATM water resistance rating. Smart bands, which monitor real-time fitness, heart rate, sleep statistics, and calorie control, have gained popularity due to increasing health and fitness awareness. These devices, containing microchips and sensors, deliver health insights in real-time, making it easier for consumers to maintain a healthy lifestyle. The market for smartwatches and smart bands is expected to grow due to these applications and partnerships during the forecast period.

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Research Analysis

Wearable technology is revolutionizing the way we monitor and manage our health and fitness. From smartwatches and fitness trackers for runners, cyclists, and swimmers, to IoT-based apparel for gym-goers, this market caters to various consumer needs. Healthcare professionals use wearables for remote patient monitoring, while consumers seek health self-efficacy through real-time data. Counterfeit products pose a challenge, but authentic wearables offer advanced features like electronic displays, connectivity to mobile phones, and health monitoring solutions using MEMS sensors, GPS, IMU, and clinical data. Wristwear includes fitness-tracking devices and head-mounted displays, expanding the realm of possibilities for this burgeoning industry. IoT-enabled garments and smart clothing further enhance the user experience, integrating electronic devices and electronic displays seamlessly into everyday life.

Market Research Overview

Wearable technology is revolutionizing the way we monitor and improve our health, with various types of devices catering to different consumer groups. Smartwatches, fitness bands, and IoT-based apparel are popular among athletes, adventurers, and fitness enthusiasts. Smart clothing and IoT-enabled garments are transforming the fashion industry, offering benefits like real-time health monitoring, connectivity, and even payment services. The healthcare sector is leveraging wearables for disease management, telehealth solutions, and medical practice, including pharma, surgical training, and health monitoring solutions. Consumers, from the younger population to older adults, are embracing wearable technologies as they offer benefits like health self-efficacy, health and autonomy, and technological innovativeness. However, concerns around data security and counterfeit products persist. The market for wearable technologies includes various electronic devices, from small sensors to smart hats, eyewear and headwear, footwear, neckwear, body wear, and more. The consumer electronics segment is a significant contributor, with companies exploring opportunities in multimedia industry, virtual reality, and augmented reality. Wearables are expected to become increasingly integrated with mobile phones, GPS, IMU, MEMS sensors, and mobile applications, offering clinical and non-clinical data to doctors and patients alike. The benefits of wearable technologies extend beyond fitness tracking, with applications in chronic diseases like cardiovascular disease and obesity. As technological literacy grows, the purchasing power of consumers is driving the market forward, with companies continuously innovating to meet the diverse needs of their customers.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Technology

Foresite Named 2026 Google Cloud Security Partner of the Year for North America

Published

24 minutes ago

April 21, 2026

Recognition highlights leadership in practitioner-governed, AI-enhanced security operations

OVERLAND PARK, Kan., Apr. 21, 2026 /PRNewswire/ — Foresite Cybersecurity today announced it has been named the 2026 Google Cloud Security Partner of the Year in the North America category, presented at Google Cloud Next ’26 in Las Vegas.

Foresite named 2026 Google Cloud Security Partner of the Year

Organizations looking to operationalize AI-driven security on Google Cloud can learn more at next.foresite.com.

Foresite delivers fully managed security operations on Google Security Operations (SecOps), enabling customers to detect and respond to threats in seconds, reduce investigation fatigue, and maintain continuous audit readiness without expanding internal teams.

Operating as the human control layer for AI-driven security, Foresite combines Google’s agentic investigation capabilities with practitioner-validated accountability. Every autonomous investigation is reviewed and authorized by a named analyst before response actions are executed, giving customers clear visibility into how decisions are made and risk is managed.

“The Google Cloud Partner Awards honor the strategic innovation and measurable value our partners bring to customers,” said Kevin Ichhpurani, President, Global Partner Ecosystem and Channels, Google Cloud. “We are proud to name Foresite a 2026 Google Cloud Partner Award winner, celebrating their role in driving customer success over the last year.”

As a Google Cloud Premier Partner with Security and MSSP specializations, Foresite delivers managed services through its Catalyst platform — extending Google SecOps with operational governance, automation, and continuous compliance capabilities. Over the past year, the company expanded its SecOps delivery practice while sustaining 96% customer retention, reflecting growing demand for managed, AI-enhanced security operations.

Across its managed services portfolio, Foresite delivers a 90% reduction in mean investigation time and sub-15-second automated threat response for its customers — enabling security teams to focus on strategic risk decisions rather than alert triage.

Foresite’s approach to managed security operations on Google Cloud was the subject of an independent Technical Validation by Enterprise Strategy Group (now part of Omdia), commissioned by Google in August 2025. The report examined how Foresite’s Catalyst platform extends Google Security Operations to deliver threat detection, investigation, and response for organizations at varying levels of security maturity.

“Our Technical Validation of Foresite’s Catalyst platform examined how practitioner-led governance can extend Google Security Operations to deliver measurable detection and response outcomes. Google Cloud’s Partner of the Year recognition independently confirms what our analysis identified — that platform-native expertise, rather than tool access, is what differentiates managed security outcomes for mid-market and enterprise organizations.”— Tony Palmer, Practice Director, Omdia (formerly Enterprise Strategy Group).

“We’re entering an era where AI can investigate threats at machine speed,” said Jeremy Hehl, Chief Evangelist at Foresite. “Enterprise organizations need confidence that those decisions are governed and aligned to real business risk. This recognition from Google Cloud reinforces our focus in helping customers operationalize AI security at scale.”

Foresite is showcasing its Agentic SOC capabilities at Google Cloud Next ’26, demonstrating how security teams can move beyond alert monitoring to govern autonomous response using Google SecOps, Google Threat Intelligence, and AI security controls.

Foresite is purpose-built for organizations that need enterprise-grade security operations without enterprise-scale friction. The company delivers the operational rigor and platform expertise these organizations require to run Google SecOps effectively — without the overhead of building and staffing a full internal SOC.

About Foresite Cybersecurity
Foresite Cybersecurity is a Google Cloud Premier Partner providing managed security operations, compliance automation, and threat intelligence services. Through its Catalyst platform, Foresite helps organizations operationalize AI-driven security with practitioner-led governance and measurable risk reduction. Learn more at foresite.com.

Media Contacts
Claire Simpson Director of Global Brand & Strategic Marketing
Tim Suwandhaputra VP, Go-to-Market
press@foresite.com

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Technology

Tredence Awarded 2026 Google Cloud Global Industry Solutions Partner of the Year Award for Retail

Published

24 minutes ago

April 21, 2026

Trusted for driving the data & AI strategy for 8 of the top 10 retailers, powering $2 trillion in retail revenue

LAS VEGAS and BENGALURU, India, April 21, 2026 /PRNewswire/ — Tredence, a global AI and data science solutions company, today announced it has been named the 2026 Google Cloud Services & Industry Solutions Partner of the Year for Retail. This award reflects Tredence’s demonstrated ability to deliver measurable customer impact at scale. Notably, this is Tredence’s third such distinction, having previously been recognized in CPG and Gaming, a testament to Tredence’s unmatched depth, breadth, and impact across the industries it serves.

For the world’s leading retailers, Tredence has consistently delivered the full AI transformation journey — migrating, modernizing, and deploying scalable AI applications and agents on Google Cloud, powered by Vertex AI and Gemini Enterprise. In FY25, Tredence drove transformative impact across 25+ strategic retail accounts spanning four continents, delivering measurable business outcomes and accelerating Google Cloud adoption at unprecedented scale. Tredence’s impact has been defined by three core motions:

Modernization at scale, building agentic foundations – Tredence executed some of the world’s most complex retail cloud migrations, including the largest-ever cloud migration in retail history, migrating 12 petabytes of data for 40,000+ analytics users with 100% operational continuity, and a landmark platform overhaul delivered ahead of schedule, reducing total cost of ownership by 20–40% and building the unified data foundations that power agentic AI at scale.Accelerating agentic AI adoption – Tredence deployed 100+ AI/ML accelerators, including 10+ retail-specific multi-agent systems built on Vertex AI and Gemini Enterprise, eliminating up to 70% of manual effort, automating up to 98% of manual ticketing processes, and cutting temporary labor costs by 20%, compressing months of deployment into weeks across some of the most complex retail environments in the world.Delivering global impact at measurable scale – Tredence drove transformative outcomes across every retail format and across geographies unifying supply chain data across 20,000+ stores to automate retail media insights, deploying a full agentic platform in just 6 months for a major wholesale retailer, and delivering greenfield Google Cloud wins, proving that the Tredence and Google Cloud partnership delivers measurable impact across every retail segment and scale of ambition.

“The Google Cloud Partner Awards honor the strategic innovation and measurable value our partners bring to customers,” said Kevin Ichhpurani, President, Global Partner Ecosystem and Channels, Google Cloud. “We are proud to name Tredence a 2026 Google Cloud Partner Award winner, celebrating their role in driving customer success over the last year.”

“Winning Google Cloud’s Retail Partner of the Year reflects one thing: the outcomes we deliver for the world’s most admired retailers, consistently and at scale,” said Amanpal Dhupar, Vice President, Head of Retail at Tredence. “We are the trusted Data and AI partner for 8 of the top 10 global retailers and have built a team of world-class retail practitioners, a proprietary accelerator ecosystem powering over $2 trillion in global retail sales, and a last-mile operationalization capability.”

Tredence recently launched its Transformative Agentic Commerce Solution Accelerators at NRF 2026. Built on Google Cloud services, these accelerators can be customized for each retailer to address unique needs and deliver faster time-to-value.

Tredence will showcase these capabilities at Google Next, Booth #2911, at the Mandalay Bay Convention Center in Las Vegas.

About Tredence:

Tredence is a global AI and data science solutions provider focused on solving the last-mile problem in AI, the gap between insight creation and value realization. Tredence leverages deep domain expertise, data platforms and accelerators, and strategic partnerships to provide tailored, cutting-edge solutions to its clients. The company has 4,200+ employees across the San Francisco Bay Area, Chicago, Riyadh, London, Toronto, and Bengaluru, serving top brands in Retail, CPG, Hi-tech, Telecom, Healthcare, Travel, and Industrials.

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Technology

dbt Labs Wins a 2026 Google Cloud Partner of the Year Award

Published

24 minutes ago

April 21, 2026

PHILADELPHIA, April 21, 2026 /PRNewswire/ — dbt Labs, the leader in standards for AI-ready structured data, announced today that it has received the 2026 Google Cloud Partner of the Year award for Data and Analytics: Data Pipelines and Governance. dbt Labs works together with Google Cloud to provide the foundation for an organization’s transition to AI leadership and innovation. The combination of rich data warehousing capabilities and the democratization of complex data transformation removes technical barriers, enabling analysts and business leaders to accelerate their time-to-value.

dbt Labs is being recognized for its achievements in the Google Cloud ecosystem, helping joint customers manage data at scale on Google Cloud and turn it into trusted, actionable insights with speed and efficiency. Thousands of organizations run dbt on Google BigQuery globally, an integration designed to accelerate the delivery of trusted analytics and AI. By consolidating data transformation into a single, unified tool, joint customers quickly gain increased operational efficiency through advanced orchestration features. dbt Labs empowers customers to manage and trust results, ensuring high-quality data is ready to power analytics and AI initiatives both today and in the future.

“Every AI strategy needs to be underpinned by a standardized foundation and process to control, govern and document progress for high-quality, trusted results,” said Shawn Toldo, Vice President, Worldwide Partner Ecosystem at dbt Labs. “Together, dbt Labs and Google Cloud enable organizations to build that foundation for an AI-ready future. We are excited for the recognition and growing partnership with Google.”

“The Google Cloud Partner Awards honor the strategic innovation and measurable value our partners bring to customers,” said Kevin Ichhpurani, President, Global Partner Ecosystem and Channels, Google Cloud. “We are proud to name dbt Labs a 2026 Google Cloud Partner Award winner, celebrating their role in driving customer success over the last year.”

This recognition is the latest example of dbt Labs’ momentum since launching on Google Cloud Marketplace one year ago. The partnership’s trajectory is driven by extensive global adoption and usage across diverse industries and a rapidly expanding community of active practitioners. Additionally, dbt Labs’ partner team earned two Google Partner All Star awards, reinforcing the deep collaboration and commitment to driving mutual success.

By bringing Google AI capabilities into dbt workflows, joint customers gain the trustworthy, well-documented, governed foundation that reliable analytics and AI demand. To learn more about how dbt Labs and Google Cloud are enabling AI-ready data pipelines, watch the on-demand webinar “Building dbt Models Faster with Google AI” at https://www.getdbt.com/confirmation/building-dbt-models-faster-with-google-ai-recording.

About dbt Labs
Since 2016, dbt Labs has been on a mission to help data practitioners create and disseminate organizational knowledge. dbt is the standard for AI-ready structured data. Powered by the dbt Fusion engine, it unlocks the performance, context, and trust that organizations need to scale analytics in the era of AI. Globally, more than 80,000 data teams use dbt, including those at Siemens, Roche and Condé Nast.

Learn more at getdbt.com, and follow dbt Labs on LinkedIn, X, Instagram, and YouTube.

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