Technology
Wearable Technology Market to Grow by USD 99.4 Billion (2025-2029), Driven by Wearable Devices as Payment Method, with AI Impacting Market Trends – Technavio
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1 year agoon
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NEW YORK, Feb. 11, 2025 /PRNewswire/ — Report on how AI is redefining market landscape – 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
ProductWrist-wearEyewear And HeadwearFootwearNeckwearOthersApplicationConsumer ElectronicsHealthcareEnterprise And IndustrialEntertainmentOthersGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And AfricaConnectivityWi-FiBluetoothCellularNFCTechnologyComputingDisplayNetworkPositioning
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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SOURCE Technavio
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Sixty-One Percent of CEOs Say Their Boards Are Rushing AI Transformation
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May 4, 2026By
New Research from Boston Consulting Group Reveals Disconnect at the Top on AI Strategy and ExecutionThree-Quarters of Board Members Believe They Understand AI, but 35% of CEOs Say Boards Overestimate the Human Capabilities AI Can ReplaceMore Than Half of CEOs Say AI Hype Is Distorting Boardroom Judgment
BOSTON, May 4, 2026 /PRNewswire/ — Sixty-one percent of CEOs say their boards are rushing AI transformation, exposing a divide at the top just as companies enter a critical phase of scaling AI. While both groups agree on AI’s importance, they differ on how quickly it should be implemented and how ready organizations are to deliver results.
These findings are from the first edition of Split Decisions: The BCG CEOs and Boards Survey. The research is based on a global survey of 625 leaders, including 351 CEOs and 274 board members, from companies with at least $100 million in annual revenue, spanning both private and public sectors.
Boards tend to favor faster AI implementation, according to the survey, while CEOs take a more measured approach. Gaps in AI understanding and FOMO (fear of missing out) may be contributing to this dynamic. Board members with lower confidence in their AI knowledge are more likely to believe their organizations are moving too slowly, suggesting that uncertainty is translating into increased urgency.
Boards’ AI Confidence Faces CEO Skepticism
While 75% of board members believe their AI knowledge is on par with or ahead of that of their peers, CEOs are less convinced. Nearly 40% say boards lack an informed view of how AI is reshaping growth strategy, and one-third say boards overestimate the human capabilities that AI can replace. (See the exhibit.)
“I feel this tension so acutely between CEOs and boards,” said Julie Bedard, a BCG managing director and partner. “A powerful way for CEOs to bridge the gap between their AI knowledge and their boards’—especially if they feel there is a deficit there—is for the CEO to personally lead an AI upskilling session for their board to show them the latest AI tools and what they can do. CEOs can also bridge the gap by talking about AI in a much more differentiated way to clearly illustrate where AI can be a substitute for humans and where it can complement human work.”
AI Hype and Misaligned Expectations Shape Boardroom Dynamics
More than half of CEOs say boards need to better understand the gap between AI hype and reality, while boards want CEOs to do a better job of selling them on their AI strategy.
CEOs report feeling greater pressure to deliver AI results than boards may fully recognize. Chief executives estimate that 35% of their performance evaluation depends on achieving AI ROI, compared with boards’ estimate of 27%, suggesting a mismatch between perceived expectations and formal accountability.
AI Literacy Emerges as a Shared Priority
Despite some misalignment, CEOs and boards broadly agree on the need to raise AI fluency at the highest levels of leadership. Approximately 80% of both groups say that prospective board members should be required to demonstrate a measurable understanding of how AI can reshape their industry.
“CEOs need to be very intentional about supporting their boards on the same learning journey they’ve taken,” said Judith Wallenstein, a BCG managing director and senior partner and the global head of the firm’s CEO Advisory. “But at a much faster pace, with more focus, and in a way that builds real understanding rather than just surface-level awareness of how AI can create true competitive advantage for the company.”
Download the publication here:
https://www.bcg.com/publications/2026/ai-governance-gaps-where-ceos-and-boards-disagree
Media Contact:
Eric Gregoire
+1 617 850 3783
gregoire.eric@bcg.com
About Boston Consulting Group
Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholders—empowering organizations to grow, build sustainable competitive advantage, and drive positive societal impact.
Our diverse, global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change. BCG delivers solutions through leading-edge management consulting, technology and design, and corporate and digital ventures. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, fueled by the goal of helping our clients thrive and enabling them to make the world a better place.
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SOURCE Boston Consulting Group (BCG)
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IBM Study: CEOs are Reshaping C-suite Roles for the AI Era
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76% of surveyed organizations now have a Chief AI Officer, up from 26% a year ago59% of CEO respondents say the CHRO’s influence will increase over the next few yearsNearly two-thirds of surveyed CEOs are comfortable using AI to help inform major strategic decisions
ARMONK, N.Y., May 4, 2026 /CNW/ — A new global study from the IBM (NYSE: IBM) Institute for Business Value finds that the accelerating pace of AI is pushing CEOs to redesign how C-suite roles are structured to drive greater business impact across the enterprise.
In the foreword of the study, IBM Vice Chairman Gary Cohn writes, “The CEO’s role has always been to lead through disruption. What AI changes is the velocity and consequences of leadership. Enterprises that succeed will operate AI-first – not as a layer of technology, but as a new operating model. Decision cycles will compress. Boundaries between functions will dissolve. Advantage will accrue to those who can learn, adapt, and execute faster than their competitors.”
The annual IBM CEO study,* which surveyed 2,000 CEOs globally, shows that as AI becomes more pervasive in the enterprise, CEOs are under growing pressure to rethink how leadership teams operate, how decisions get made and how organizations are structured.
Among the key findings:
76% of surveyed organizations have a Chief AI Officer (CAIO) in 2026, up from just 26% in 2025.Analysis shows that organizations with an AI-first approach to C-suite design have scaled 10% more AI initiatives enterprise-wide than their peers.64% of surveyed CEOs say they are comfortable making major strategic decisions based on AI-generated input. 83% of respondents agree that AI sovereignty is essential to business strategy, underscoring the importance of having the right controls as AI plays a larger enterprise-wide role. Surveyed CEOs say only 25% of the workforce is using AI regularly as part of their job, despite 86% believing their employees have the skills to collaborate with AI.
“AI is changing how work gets done, bringing people and software together in new ways, and it’s changing how people come together in the workplace,” said Mohamad Ali, Senior Vice President, IBM Consulting. “The CEOs delivering real results from AI transformation aren’t just deploying AI faster, they’re redesigning their organizations to bring together the best people with the best technology.”
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85% of respondents say all functional leaders must become technology experts in their domain, signaling that AI accountability is expanding beyond specialized roles. Among organizations with a CAIO, all surveyed CEOs expect the influence of the role to increase by 2030, alongside rising influence across every member of the C-suite. 59% of surveyed CEOs say the CHRO’s influence will increase over the next few years.
As CEOs turn to AI-driven decisions, governance and controls become more critical
By 2030, surveyed CEOs expect 48% of operational decisions where consistency and guardrails can be codified will be made by AI without human intervention, compared to 25% today. 79% of executives surveyed confirm they are decentralizing decision-making, distributing accountability as AI plays a more significant role enterprise wide.
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83% of CEOs surveyed say AI success depends more on people’s adoption than technology.Between 2026 and 2028, respondents expect 29% of employees to require reskilling for a different role and 53% to need upskilling to perform their current role more effectively. Surveyed organizations that redesigned five core business areas — technology, finance, HR, operations and cross-functional collaboration — are four times more likely to have delivered on business objectives. 77% of respondents say talent and technology leadership roles are converging, suggesting tighter integration between talent, technology and enterprise strategy.
To view the full study, visit: https://www.ibm.com/thought-leadership/institute-business-value/en-us/c-suite-study/ceo
The study also features industry perspectives from senior executives on how business leaders are responding to AI-driven change. A selection of these firsthand views are available in the addendum below.
*Study Methodology
The IBM Institute for Business Value, in cooperation with Oxford Economics, conducted a survey of 2,000 CEOs and equivalent senior leaders across 33 geographies and 21 industries from February to April 2026. The survey explored how leaders are redesigning business models, operating structures and execution capabilities in an AI-driven economy, with additional analysis examining how organizations translate AI ambition into enterprise-wide execution and business value.
The IBM Institute for Business Value, IBM’s thought leadership think tank, combines
global research and performance data with expertise from industry thinkers and leading academics to deliver insights that make business leaders smarter. For more world-class thought leadership, visit: www.ibm.com/ibv. To receive more insights, subscribe to the IdeaWatch newsletter: https://ibm.co/ibv-ideawatch.
About IBM
IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity, and service. Visit www.ibm.com for more information.
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conwaym@us.ibm.com
Executive Perspectives:
“It’s not laying AI on top of your existing tools and services. It’s reimagining the entire process.” — Pablo T. Rivero, CEO, Resy and SVP, Global Dining, American Express
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Eddid Financial Honored with “Professional Services Award in RWA” by HKCT Highlighting its Leading Edge in Web3 and Digital Assets
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HONG KONG, May 4, 2026 /PRNewswire/ — Eddid Financial (the “Group”) has won the “Professional Services Award in RWA” at the HKCT Business Awards, hosted by the Hong Kong Commercial Times. The award recognizes the Group’s exceptional professional service capabilities and innovative achievements in the Real-World Assets Tokenisation (“RWA”) sector. This prestigious honor serves as a strong industry endorsement of the Group’s dedicated efforts in the RWA space, affirming its leadership in bridging traditional and digital finance while injecting significant momentum into Hong Kong’s digital asset market.
The HKCT Business Awards evaluates candidates based on four core criteria: corporate achievements, market competitiveness, brand philosophy, and professional standing. As one of the most credible and influential business awards in Hong Kong, it aims to recognize outstanding enterprises across various sectors for their performance over the past year, encouraging companies to continuously enhance their core competitiveness and pioneer innovative economic directions. During this year’s selection process, the judging panel conducted a comprehensive assessment of Eddid Financial’s compliance infrastructure, innovative services, and industry contributions within the RWA sector, highly commending the Group’s professional strength and forward-looking vision in asset tokenisation.
Compliance-Driven: Building a Full-Chain Service Ecosystem
As a licensed pioneer in Hong Kong’s RWA landscape, Eddid Financial has consistently relied on compliance as its foundation and innovation as its driving force. Having deeply cultivated the digital asset space for years, the Group has established a full-chain professional service ecosystem that encompasses asset screening, product design, compliance auditing, and distribution operations. Eddid Securities and Futures, a subsidiary of the Group, became one of the first brokerages in Hong Kong to upgrade its licenses in September 2023. It subsequently secured further upgrades for its Type 1 and Type 9 regulated activity licenses, making it one of the few institutions authorized to distribute tokenised securities and RWA products. This regulatory milestone has laid a solid, compliant foundation for the Group’s RWA business operations.
Successful Launch of Landmark Precious Metal RWA Projects
In terms of practical application, Eddid Financial has actively spearheaded the launch of several landmark RWA projects, setting a new benchmark for the industry. Notably, the Group partnered with Timeless Resources Holdings Limited (8028.HK) and HashKey Chain to introduce Hong Kong’s first silver RWA project. By leveraging blockchain technology to tokenise physical silver assets, each digital coin is backed 1:1 by one ounce of physical silver, strictly held by an independent trustee. This initiative not only lowers the barrier to entry for precious metal investments but also enhances asset liquidity. The project’s product design and issuance framework received a “no further comment” reply from the Hong Kong Securities and Futures Commission (SFC), demonstrating the highest standard of compliance.
Concurrently, the Group has collaborated with CAC Fintech to advance China’s first agricultural RWA project. By converting agricultural products, land management rights, and future agricultural revenue rights into on-chain digital certificates, this project addresses critical pain points such as poor liquidity and low financing efficiency in agricultural assets. Furthermore, it supports the national rural revitalization strategy and explores novel pathways for the innovative integration of agricultural assets with financial markets.
Leading the Upgrade of the Regional RWA Industry
Beyond launching landmark projects, Eddid Financial continues to drive the ecosystem construction and market development of the RWA sector. The Group’s research department published the “Core Guide to RWA: From Basic Theory to Global Practice,” sharing its leading experience in asset tokenisation to help establish industry standards. Simultaneously, the Group has built a tripartite development model encompassing “Technology + Compliance + Ecosystem”. Internally, it has assembled a dedicated fintech team to advance underlying technologies; externally, it connects core stakeholders, including asset holders, investors, and licensed exchanges, to form a comprehensive RWA service ecosystem that provides clients with all-encompassing, one-stop professional services.
Looking ahead, Eddid Financial will continue to leverage its comprehensive licensing advantages, expert service teams, and robust technical support to drive the digital transformation of a diverse range of real-world assets. The Group is committed to delivering highly flexible, efficient, and compliant RWA services to its clients while actively supporting the standardized and international development of Hong Kong’s digital asset market, thereby cementing Hong Kong’s status as a premier global digital finance hub.
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