The Business Research Company’s Wearable AI Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Wearable AI Global Market Report 2023 evaluates wearable AI market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global wearable AI market is expected to grow from $24.60 billion in 2022 to $32.12 billion in 2023 at a compound annual growth rate (CAGR) of 30.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The wearable AI market is expected to reach $91.8 billion in 2027 at a CAGR of 30%.
The demand for advanced wearable devices is expected to propel the growth of the wearable AI market going forward. Wearable devices are electronic devices used in the human body that communicate with other devices to transmit or gather data. Wearable devices play an essential role in driving the growth of the wearable AI market by encouraging user adoption, generating massive amounts of data for AI algorithms, and enabling seamless integration of AI-driven features and functionalities, resulting in increased demand and market opportunities for wearable AI technologies. For instance, according to the Italian Watch Spotter, an Italy-based community of luxury watch fans, 15.8 million watches were exported in 2022, an increase from 15.7 million in 2021. Therefore, the demand for advanced wearable devices drives the wearable AI market.
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The wearable AI market segments in the report are:
1) By Type: Smart Watch, Smart Eyewear, Smart Earwear, Other Types
2) By Component: Processors, Connectivity IC (Integrated Circuit), Sensors
3) By Operation: On-Device AI (Artificial Intelligence), Cloud-Based AI (Artificial Intelligence)
4) By Application: Consumer Electronics, Healthcare, Automotive, Military And Defense, Media And Entertainment, Other Applications
The table of contents in TBRC’s wearable AI market report includes:
- Executive Summary
- Wearable AI Market Characteristics
- Wearable AI Market Trends And Strategies
- Wearable AI Market – Macro Economic Scenario
- Global Wearable AI Market Size and Growth
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- Wearable AI Market Other Major And Innovative Companies
- Global Wearable AI Market Competitive Benchmarking
- Global Wearable AI Market Competitive Dashboard
- Key Mergers And Acquisitions In The Wearable AI Market
- Wearable AI Market Future Outlook and Potential Analysis
Top Major Players
- Amazon Inc.
- Apple Inc.
- Google Inc.
- Samsung Electronics Co. Ltd.
- Microsoft Corporation
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