Smart Wearable Devices Market Size

Smart Wearable Devices Market size is poised to reach USD 528.7 Billion by the end of 2036, growing at a CAGR of 19.7% during the forecast period, i.e., 2024-2036.In the year 2023, the industry size of smart wearables devices was USD 64.9 Billion. The reason behind the growth is impelled by the growing demand for next-generation smart devices in the wearables industry, including- smart jewelry, implantable devices, sports watches, smart wristbands, VR headsets, and many more. According to recent research, IoT devices are expected to reach 40 billion by 2025.

Along with this, the demand for smartwatches among swimmers, cyclists, gym-goers, and runners is increasing as they tend to track the burnt calories, stationary time, and hourly activity. More than 2.5 Billion people worldwide aged 15 or above can swim, among which most of them are men. Moreover, the growing advancements in lithium battery technology are believed to fuel the market growth. The power, and efficiency of these devices have increased by recent developments which will make them perfect for usage on wearable technology. Future developments in battery technology should result in longer-lasting and more efficient batteries, which is one of the main improvements in smart wearable devices is charging which enables the users a better experience.