Report: Smart wearables market set to generate more than $1 trillion through 2032

A new report from Counterpoint Research predicts that the consumer wearables market will generate more than $1 trillion in cumulative revenue through 2032. Smartwatches and wireless earbuds are projected to lead the pack, with hearables accounting for the largest share of revenue at roughly $360 billion. Smartwatches are expected to follow with a cumulative revenue of $304 billion, while smart eyewear is forecasted to generate $168 billion.

Other categories like health patches, smart rings, pendants, smart shoes, and fitness bands are projected to generate $120 billion, $44 billion, $24 billion, $18 billion, and $14 billion, respectively. The market has been growing at twice the rate of shipments, and the shift appears to be moving from fitness trackers to preventive health devices.

Apple is already competing in two categories that the report forecasts will generate the most revenue, with AirPods and the Apple Watch. The company is also rumored to be working on smart glasses, while exploring other innovative products. Apple's Wearables, Home, and Accessories segment reported $7.88 billion in revenue for fiscal Q3 2026, marking the strongest growth since fiscal Q4 2022.