Wearables are a US$119bn market with no dedicated industry show and no standard global dataset of users
01 Gatherings: wearables lack an industry-level trade show
They appear instead at general consumer-electronics fairs: CES 2026 drew 4,100+ exhibitors and named no hall for wearables. In China the principal stages are hosted by the state, and the Canton Fair, with more than 32,000 exhibitors, opened its first smart-wearables zone in 2026.
4,100+ CES 2026 exhibitors
02 Crowdfunding: for a young brand, the campaign is the first trade show
One agency puts China’s share of the top 100 hardware campaigns of 2025 at nearly 70%. No platform publishes how many projects deliver, and a 2018 study found no more than 32% of technology projects on time.
70% Top 100 hardware campaigns of 2025, agency estimate
03 Market: US$119bn including earwear, with about US$40bn on the wrist alone
611.5m units shipped in 2025 and value has grown by about 4% a year since 2022; by 2036 the market could be worth US$180bn to US$410bn.
US$119bn All wearables including earwear, 2025
04 China: nearly 40% of global wrist-worn shipments, about 13% of market value
China took 38.6% of wrist-worn shipments in the first quarter of 2026 and 13.2% of market value in 2025. Growth rests on a purchase subsidy for watches and bands priced up to US$897 (6,000 yuan).
38.6% Wrist-worn shipments, first quarter of 2026
05 Health: users will pay for health features, but wearables in serious medical regulation still face high hurdles
Acceptance of wearables in serious medicine remains low: on the verifiable record, only a small number of wearable devices meet regulators’ standards.
Sources: Chapters of this report
Given how the industry has developed so far, the questions public sources cannot answer are the best summary of its present state
Exhibit 1 · Eight figures that public sources do not give, and what is published in their place · By chapter of this report
| Figure sought | What is published instead | Chapter |
|---|---|---|
| Users worldwide | National surveys that ask different questions: 37% in the United States, 30% in the EU, 27% in China | Demand |
| Brand ranks six to ten, and annual shares after 2022 | Quarterly top five for all wearables, and a top five on the wrist led by Xiaomi with 18% | Supply |
| Who assembles wearables and who supplies components | Company statements, and one display share: two Chinese panel makers with 26% of smartwatch OLED in late 2023 | Supply |
| Wearable revenue of Apple Watch, Samsung and Huawei | Totals for the segment that holds them | Capital |
| Venture funding worldwide, by year | Individual rounds, and totals for China | Capital |
| Delivery rates on crowdfunding platforms | A 2018 study: no more than 32% of technology projects on time | Crowdfunding |
| Size of wearables zones at fairs | Nothing published | Gatherings |
| The division of spending between consumers, insurers and employers | The rules on who may pay, and no amounts | Demand |
Sources: Chapters of this report
Foreword: after more than a decade, wearables remain at an early stage
“Wearables have been on the market for more than ten years, yet the industry is still at an early stage worldwide, which follows directly from what the products are and what buyers need them for. Two forces shape the decade ahead: the rapid development of AI is pressing large manufacturers to find where AI enters and leaves the physical world, and the economic environment has not yet stimulated demand enough to make a wearable a necessity. Within the next ten years, wearables, more precisely AI hardware, will have their period of rapid growth.”
Max Wang, October 2026
Sources for the figures on this page
- CES 2026 exhibitors: CTA, “CES 2026: The Future is Here”, 9 January 2026
- Canton Fair exhibitors and its first smart-wearables zone: Ministry of Commerce of the PRC, press conference on the 139th Canton Fair, 10 April 2026
- China’s share of the top 100 hardware campaigns: Yishi Technology, “2025 硬件产品众筹 TOP100”, 16 January 2026
- Technology projects delivered on time: Jensen and Özkil, Design Science, Cambridge University Press, 23 October 2018
- Market value of US$119bn, and China’s share of value: KPMG, China smart wearable market report, figure 1.1, September 2026; the share of value (1,053 ÷ 7,977) and the conversion to US dollars are Whenjin’s calculation
- About US$40bn on the wrist: Omdia, press release, 25 September 2025
- Shipments of 611.5m units: IDC, Wearable Devices Market Insights, archived 16 April 2026
- China’s share of wrist-worn shipments: IDC, as cited in the KPMG report above
- Purchase subsidy: National Development and Reform Commission and Ministry of Finance of the PRC, notice on the 2025 trade-in programme, reported by Xinhua, 8 January 2025
- Use in the United States: Pew Research Center, smartwatch ownership, 17 June 2026
- Use in the EU: Eurostat, dataset isoc_iiot_use, 17 April 2026
- Use in China: CNNIC, 57th Statistical Report on China’s Internet Development, 5 February 2026
- Xiaomi’s share on the wrist: Omdia, press release, 27 February 2026
- Smartwatch OLED share: Omdia, May 2024
- Growth of about 4% a year since 2022, and the 2036 range: Whenjin’s calculation and scenarios; the method is set out in the full report
About the full report
65 pages, PDF, English. The chapters are listed in this edition’s contents. Every figure is traceable to a public source listed in the appendix, and forecasts are labelled as such.