Wearable Artificial Intelligence Market is segmented By Product Type (Smart Watches, Ear Wears, Fitness Band, Head Mounted Display), By Application (Consumer Electronics, Enterprises and Gaming Application), and Region (United States, Canada, Mexico, South America, France, Germany, Italy, Spain, United Kingdom, Russia, China, India, Philippines, Malaysia, Australia, Austria, South Korea, Middle East, Japan, South Africa, Rest of World)
Wearable Artificial Intelligence Market size was estimated at $10.11 billion in 2020 and is expected to reach $42.34 billion by 2028, growing at a CAGR of 21 .2% during the forecast period of 2021 to 2028.
Wearable AI refers to devices designed to be worn on a consumers body and perform intelligent operations. Wearable artificial intelligence refers to intelligent gadgets such as smartwatches, smart earwear, smart eyeglasses, and smart gloves. Consumer devices, healthcare, automotive, army & defence, media & entertainment, and more benefit from wearable AI. Major firms like Samsung, Apple, and Sony, among others, employ a variety of techniques to create and enhance the technology that drives market demand.
The market is driven by rising usage of AI assistants, increased penetration of AI in the healthcare industry, and advancements in IoT and wireless technology integration in wearable electronics. At the same time, the limited battery life of smart wearables restrains industry growth. Additionally, AI aid for animals and advancements in personal computers are projected to fuel market expansion.
Wearable Artificial Intelligence Market Growth and Trend
The wearable AI industry has been rising at a breakneck pace because of the expansion of upcoming technologies such as AI and 5G smartphone usage. Smartphones are frequently used to collect and analyze data from wearable devices. The fast rise of the smartphone business has resulted in a rise in the creation of responsive and user-friendly android and IoT-enabled applications for wearable devices. Additionally, increased urbanization and rising disposable incomes in developing countries drive market expansion, dictating future trends in wearable technology. Factors such as increased acceptance of AI assistants, increased penetration of AI in the healthcare sector, and the development of IoT and wireless technology convergence all contribute to the markets growth. However, the limited lifespan of smart wearables is impeding the growth of the wearable AI industry. Additionally, advancements in personal computing and AI support for animal health monitoring are expected to offer profitable economic opportunities for wearable AI.
Additionally, increased urbanization and increased disposable income in developing nations boost market expansion, dictating the future trends in wearable technology. With increasing industrialization and increased employment in service-based industries, consumer buying habits have shifted fundamentally toward consumer electronics items such as fitness & health monitoring smart wearables. As a result, Microsoft, Apple, Google, and other established competitors are increasing their market share by launching new smart wearables, driving the market growth.
The worldwide wearable AI market is driven by factors such as rising acceptance of AI assistants, greater penetration of AI in the health industry, the progress of IoT, and integration of wireless technologies. However, the market is harmed by the short life of smart wearables. Additionally, throughout the forecast period, AI support for animals and advancements in personal computing are projected to provide profitable prospects for wearable AI. The worldwide wearable AI market is driven by factors such as rising acceptance of AI assistants, greater penetration of AI in the health industry, the progress of IoT, and integration of wireless technologies. However, the market is harmed by the short life of smart wearables. Additionally, throughout the forecast period, AI support for animals and advancements in personal computing are projected to provide profitable prospects for wearable AI.
Wearable Artificial Intelligence Market Segmentation
The wearable artificial intelligence market is segmented by product type and application. Based on product type, the market consists of smart watches, ear wears, fitness band, head mounted display. By application, the market is divided into consumer electronics, enterprises and gaming application.
Wearable Artificial Intelligence Market Country Analysis
Together, North America and Europe account for more than half of the market for wearable artificial intelligence. APAC is composed of rising economies such as China and India that have a voracious demand for consumer product uptake and the potential for various wearable AI applications. Additionally, it is noted that geographic locations with higher incomes have a greater propensity to acquire wearable artificial intelligence gadgets. As a result, Asias growing per capita income will accelerate the use of wearable AI gadgets. Additionally, the regions wearable AI market will be fueled by the growing acceptance of new commercial and industrial applications.
Wearable Artificial Intelligence Market Share and Competition
The major players operating in the global wearable artificial intelligence market are Apple, Samsung, Google, Microsoft, Sony, Garmin, Fitbit, Huawei, Amazon, IBM, Oracle, Bragi, Motive, Shft, Lifebeam, Focusmotion, Moov, Atlas, Biobeats, Physiq, Touchkin and Others.
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Industry Segmentation and Revenue Breakdown
Product Type Analysis (Revenue, USD Million, 2021 - 2028)
• Smart Watches, Ear Wears, Fitness Band, Head Mounted Display
Application Analysis (Revenue, USD Million, 2021 - 2028)
• Consumer Electronics
• Enterprises and Gaming Application
Region Analysis (Revenue, USD Million, 2021 – 2028)
• North America
o United States
• South America
o United Kingdom
• Asia Pacific
o South Korea
• Middle East
o GCC C ountries
o South Korea
• South Africa
• Rest of World
Wearable Artificial Intelligence Market Companies
• United States Wearable Artificial Intelligence Industry Research Report
• Europe Wearable Artificial Intelligence Industry Research Report
• Asia Pacific Wearable Artificial Intelligence Industry Research Report
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