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The global wearable technology market size was valued at USD 40.65 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 13.8% from 2021 to 2028. The rising popularity of connected devices and the Internet of Things (IoT) and the rapid growth of the technologically literate population globally are anticipated to fuel the demand for wearable technology over the forecast timeframe. Furthermore, the rising prevalence of chronic diseases and obesity has contributed to the adoption of wearable products such as activity trackers and body monitors that provide real-time information on the user’s overall wellbeing.


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