Demand for wearables is falling, but smart bracelets and high-end gadgets are booming

The global wearable market has seen a decline in overall demand, yet there is a notable surge in interest for smart bands and high-end devices. According to recent reports, the segment of screenless smart bands now accounts for 15 percent of sales within the entry-level fitness tracker category. This shift reflects broader changes in consumer preferences, with companies such as Polar, Google, and Garmin entering the niche in the past year. In the last twelve months, several key players have introduced screenless smart bands, following the trend initiated by Whoop. These products have positioned themselves as alternatives to traditional smartwatches, focusing on core functionalities without the inclusion of a display. As a result, the market for wearables has shifted, with declining sales in the classic entry-level smartwatch segment and increasing focus on both minimalist smart bands and premium high-end devices. According to data from industry analyst firm Omdia, the global trade in wearables declined by two percent in the second quarter of 2026 compared to the previous year. However, the market for smartwatches saw a six percent increase, driven largely by heightened demand for high-quality devices. The company noted that this growth was influenced by the rising popularity of premium offerings. Apple continues to lead the smartwatch market, maintaining its position with a 46 percent share. This figure slightly decreased from 48 percent in the prior year. Meanwhile, Garmin has made significant strides, increasing its market share in the smartwatch segment from 11 to 15 percent, matching Samsung’s performance. Samsung, however, recorded a two percent drop in its market share during the same period. In the entry-level fitness tracker segment, screenless smart bands represent 15 percent of total sales. Sales in this category have dropped by nine percent compared to the previous year. Huawei leads the market with an 18 percent share, while Xiaomi, Apple, and Samsung all experienced declines. Garmin, having launched its Circa band in July, managed to increase its market share from four to six percent. Looking ahead, projections indicate substantial growth in the wearable market over the coming years. A report from Counterpoint Research suggests that the global wearable market could exceed one billion dollars by 2032. This forecast includes revenue estimates of 304 billion dollars from smartwatches, 14 billion dollars from fitness bands, and 44 billion dollars from smart rings. Smart earbuds are expected to generate the highest revenue, projected at 360 billion dollars. Optimism around smart glasses is particularly pronounced, with forecasts indicating they could contribute up to 168 billion dollars to the market. These figures highlight the evolving landscape of wearable technology and the potential for continued innovation and expansion in the sector.