ABI Research predicted the wearable sector as poised for a growth spurt, fuelled by smartwatches and emerging smart rings.

The research company noted the devices are increasingly being used for tracking fitness, health data and chronic disease symptoms.

It predicted shipments would grow at a CAGR of 7.7 per cent from 2023 to 2029, hitting 591 million units.

ABI Research expects smartwatch demand to be lifted by new features including blood pressure monitoring using inflatable wrist straps, along with expansion into emerging markets.

It warned smartwatch success could come at the expense of other wearables including fitness bands.

The company expects smart rings to gain, accounting for 6 per cent of shipments in 2029, with major brands including Samsung and Apple expected to fuel awareness in what ABI Research branded a fragmented market currently led by brands including Oura and McLear.

It noted wearables have yet to fully embrace mobile connectivity which could enable real-time data transmissions for new uses cases, particularly in healthcare.

ABI Research stated while 4G smartwatches currently dominate the wearables market, 5G reduced capability (RedCap) and chipset innovations from Qualcomm and MediaTek could expand mobile-enabled devices.

David McQueen, research director at ABI Research, explained the next stage of wearables growth would likely come from enhanced functionality including better battery life, improved fitness metrics and more affordable designs.