Current laboratory-based setups (optical marker cameras + force plates) for human motion measurement require participants to stay in a constrained capture region which forbids rich movement types. This study established a fully wearable system, based on commercially available sensors (inertial measurement units + pressure insoles), that can measure both kinematic and kinetic motion data simultaneously and support wireless frame-by-frame streaming. In addition, its capability and accuracy were tested against a conventional laboratory-based setup. An experiment was conducted, with 9 participants wearing the wearable measurement system and performing 13 daily motion activities, from slow walking to fast running, together with vertical jump, squat, lunge, and single-leg landing, inside the capture space of the laboratory-based motion capture system. The recorded sensor data were post-processed to obtain joint angles, ground reaction forces (GRFs), and joint torques (via multi-body inverse dynamics). Compared to the laboratory-based system, the established wearable measurement system can measure accurate information of all lower limb joint angles (Pearson’s r = 0.929), vertical GRFs (Pearson’s r = 0.954), and ankle joint torques (Pearson’s r = 0.917). Center of pressure (CoP) in the anterior–posterior direction and knee joint torques were fairly matched (Pearson’s r = 0.683 and 0.612, respectively). Calculated hip joint torques and measured medial–lateral CoP did not match with the laboratory-based system (Pearson’s r = 0.21 and 0.47, respectively). Furthermore, both raw and processed datasets are openly accessible (https://doi.org/10.5281/zenodo.6457662) . Documentation, data processing codes, and guidelines to establish the real-time wearable kinetic measurement system are also shared (https://github.com/HuaweiWang/WearableMeasurementSystem).