The wearable technology market is projected to grow from $117.4 billion in 2024 to $232.2 billion by 2030, driven by hearables and smartwatches, according to GlobalData. The demand for health monitoring and artificial intelligence (AI) tools is fuelling this expansion. GlobalData's report highlights smart glasses as the fastest-growing segment, thanks to increased device availability and diverse use cases.

Pinky Hiranandani, a Strategic Intelligence Analyst at GlobalData, stated, “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.” This transformation is expected to enhance the personalisation of wearables, making them active health partners.

The report also notes that companies like Samsung Electronics are expanding their hardware offerings, entering the smart ring and augmented reality (AR) headset markets. Meanwhile, Microsoft is shifting its focus from hardware to mixed reality software, having discontinued its HoloLens 2 headset in 2024.

Despite the positive outlook, first-generation AI wearables have not met expectations, with devices like the Humane AI Pin and Rabbit R1 failing to surpass smartphone and smartwatch functionalities. Hiranandani concluded that AI features will likely be integrated into existing devices rather than becoming standalone products.

As large language models (LLMs) advance, wearables are anticipated to evolve into active assistants, capable of anticipating user needs and providing timely reminders. This evolution could redefine the role of wearable tech in daily life

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