United States Wearable Technology Market Insights Forecasts to 2033

• The US Wearable Technology Market Size was valued at USD 18.90 Billion in 2023.
• The Market is Growing at a CAGR of 12.26% from 2023 to 2033
• The U.S. Wearable Technology Market Size is Expected to Reach USD 60.10 Billion by 2033

The US Wearable Technology Market Size is Expected to Reach USD 60.10 Billion by 2033, growing at a CAGR of 12.26% from 2023 to 2033.

Market Overview

Any type of electrical equipment intended for user wear is referred to as wearable technology. These gadgets can be jewelry, accessories, medical equipment, apparel, or parts of an article of clothing, among many other forms. Although the term "wearable computing" suggests processing or communication capabilities, wearables can differ widely in terms of sophistication. Some of the most advanced wearable technology examples are virtual reality (VR) headsets with holographic computers, Google Glass, Microsoft's HoloLens, and artificial intelligence (AI) hearing aids. A simple example of wearable technology is a skin patch that can be thrown away and has sensors that wirelessly transfer patient data to a control unit in a medical facility. Additionally, built-in sensors in wearables monitor physical motions, offer biometric authentication, or help with location monitoring.

Report Coverage

This research report categorizes the market for the US wearable technology market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United States wearable technology market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the U.S. wearable technology market.

Driving Factors

Wearables are electronic devices that people physically put on their bodies to track, process, and share personal information. These "smart" Internet of Things gadgets are becoming common consumer electronics in the gaming and fashion sectors. They can measure physiological data, such as heart rate and sleep habits. Nearly 25% of Americans currently own a wearable gadget, demonstrating how widely accepted wearable technology has become as a tool for keeping us informed and connected. Wearable technology is most likely helping the healthcare sector the most. Wearers of these smart gadgets can take their blood pressure and body temperature, and the data they collect is sent in real-time to their medical staff.

Restraining Factors

An issue restricting the market is the absence of dependable and effective battery construction without compromising wearable device portability and compactness.

Market Segmentation

The US wearable technology market share is classified into type and end use.

• The VR headsets segment is expected to hold a significant market share through the forecast period.

The United States wearable technology market is segmented by type into smart glasses, VR headsets, smart jackets and smart rings, smart watches, and fit bands. Among these, the VR headsets segment is expected to hold a significant market share through the forecast period. Virtual reality (VR) holds immense promise for a range of uses, including education, healthcare instruction, and industrial prototyping. It is anticipated that businesses and consumers will invest more in VR technology, driving demand.

• The health and fitness segment is expected to dominate the US wearable technology market during the projected period.

Based on the end use, the United States wearable technology market is divided into health and fitness, BFSI, gaming and entertainment, and fashion. Among these, the health and fitness segment is expected to dominate the US wearable technology market during the projected period. People's awareness of the value of health and fitness is growing. People are encouraged to take a proactive approach to their well-being by wearing wearable gadgets, which offer real-time data on critical health markers.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the United States wearable technology market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Apple Inc.
• Fitbit Inc.
• Garmin Ltd.
• Google LLC
• Samsung Electronics Co., Ltd.
• Sony Corporation
• Motorola Solutions Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In July 2023, the National Sleep Foundation (NSF) and Samsung Electronics Ltd. have partnered to offer millions of Samsung device owners personalized knowledge and guidance on sleep health through the Samsung Health app, which is accessible on the new Galaxy Watch3.

Market Segment

This study forecasts revenue at U.S., regional, and country levels from 2020 to 2033. Spherical Insights has segmented the United States Wearable Technology Market based on the below-mentioned segments:

United States Wearable Technology Market, By Type

• Smart Glasses
• VR Headsets
• Smart Jackets and Smart Rings
• Smart Watches
• Fit Bands

United States Wearable Technology Market, By End Use

• Health and Fitness
• BFSI
• Gaming and Entertainment
• Fashion