Global Wearable AI Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Wearable AI Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global wearable AI market report has been segmented on the basis of component, product type, operation type, application, and region.
Global Wearable AI Market: Overview
Wearable AI are devices that contain an AI algorithm or program. Artificial Intelligence technology helps monitor and analyze conversations. Wearable AI also learns the user's voice pattern and tone and determines if the individual is sad, happy, or neutral. In fitness training; the artificial intelligence system can provide AI-app coaching in order to improve the end user's performance. It provides data in real time and also offers feedback data in audio and visual formats. Availability of various types of wearable AI products with technological advancements is making individuals more inclined towards its usage.
Global Wearable AI Market: Dynamics
Increasing inclination of consumers and penetration of artificial intelligence assistance in various applications and devices are major factors driving growth of the global wearable AI market. Wearable AI can offer a convenient tool monitor and collect vital patients’ data in the healthcare sector. Smart healthcare devices provide ECG trackers and scale, as well as can help give indications about which patient needs immediate attention. Thus, growing adoption of wearable AI in the healthcare sector is another factor expected to drive growth of the global market. Increasing demand for smart wearables among individuals is another factor anticipated to support growth of the target market. Furthermore, growing adoption of IoT technology/platform and rising preference of wireless devices are factors expected to boost growth of the global wearable AI market in the near future.
However, rapidly changing consumer electronics technologies with short lifespan is a challenging factor that may hamper growth of the global wearable AI market in the years to come. In addition, rising concerns regarding data privacy is another factor that could affect growth of the global market. Nevertheless, the introduction of cost-effective AI wearable devices can create high revenue opportunities for players operating in the target market in the next few years.
Global Wearable AI Market: Segment Analysis
Among the deployment type segment, the on-device AI segment is anticipated to register high growth in terms of revenue over the forecast period. Among the application segment, the consumer electronics segment is expected to dominate in the global market in terms of revenue and is expected to maintain its dominance in the next few years. Growing demand for wearable devices for fitness applications, owing to increasing health consciousness among end-users is a factor supporting growth of this segment in the global market.
Global Wearable AI Market: Regional Analysis
The market in North America accounted for major share in terms of revenue in the global market and is expected to maintain its position over the forecast period. Presence of prominent players operating in the countries in the region and early adoption of technologically advanced products among individuals are factors driving growth of the target market in North America. Asia Pacific market is anticipated to register highest CAGR in terms of revenue over the forecast period, owing to increasing demand for consumer electronics products among end-users in countries such as China and India in this region.
Global Wearable AI Market Segmentation:
Segmentation by component:
- Connectivity IC
Segmentation by product type:
- Eye Wear
- Ear Wear
Segmentation by operation type:
- Cloud-Based AI
- On-Device AI
Segmentation by application:
- Consumer Electronics
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Estimated Year 2020 Actual Year 2021 Forecast Period 2021–2030 Revenue in US$
- Apple Inc.
- Samsung Electronics Co., Ltd.
- Google LLC
- Microsoft Corporation
- Sony Corporation
- Garmin Ltd.
- Fitbit, Inc.
- Huawei Technologies Co., Ltd.
- com, Inc.
- International Business Machines Corporation
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