Federica Laricchia
Research expert covering the global consumer technology industry
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As the world moves in the direction of fitness and well-being, smartwatches, fitness trackers, and smart bands have become some of the most popular devices among American consumers who want to track health-related data. In the U.S. the smartwatch market is expected to generate revenues of around 15 billion U.S. dollars in 2024, with this value forecast to increase in the coming years. Similarly, headphones and earbuds have become one of the “standard” electronic devices Americans own to listen to their music and podcasts, as shown by the growing volume of the headphone market.Both markets host a wide range of players, including tech giants like Apple, Samsung, and Sony, as well as companies targeting a specific industry, such as Garmin and JBL. However, it is Apple that leads the American fitness tracker industry, holding a share of around 40 percent, and the headphone market, with almost 40 percent of Americans owning Apple headphones.
New wearables on the horizon: XR devices
As for the rest of the world, the XR industry is taking off and, particularly, in the United States. The country is a hub for companies manufacturing XR devices, including VR headsets and AR glasses. Indeed, the VR headset market, forecast to generate revenues of just under two billion U.S. dollars in 2024, counts Meta, with their Quest, and Apple, with their Apple Vision Pro among its main market players. At the same time, consumers in the country seem to be eager to try them, as illustrated by the rising number of AR hardware users.With new technologies advancing, new wearables will be developed to satisfy consumers’ needs, whether it is tracking fitness data, listening to music, getting immersed into a new reality, or many more.
