Overview and Scope
Wearable AI refers to a technological device with artificial intelligence (AI) capabilities worn on the user’s body, allowing for improved functionality and customized user experiences. Wearable AI can track and analyze a user’s heartbeats, speech patterns, and mood and can carry out intelligent tasks like monitoring heart rate, identifying stress levels, and tracking mobility.
Sizing and Forecast
The wearable ai market size has grown exponentially in recent years. It will grow from $32.12 billion in 2023 to $41.92 billion in 2024 at a compound annual growth rate (CAGR) of 30.5%. The growth in the historic period can be attributed to introduction of smartwatches, growth in fitness tracking devices, rise in health and wellness awareness, increase in mobile connectivity, development of low-power processors.
The wearable ai market size is expected to see exponential growth in the next few years. It will grow to $120.7 billion in 2028 at a compound annual growth rate (CAGR) of 30.3%. The growth in the forecast period can be attributed to surge in consumer interest in wearables, integration with smartphones, expansion of healthcare applications, rise in remote patient monitoring, integration of biometric authentication, growth in smart clothing solutions, development of wearables for elderly care. Major trends in the forecast period include advances in flexible display technologies, advancements in sensor technologies, technological advancements in miniaturization, integration with augmented reality (ar), ai-powered wearable assistants, integration of 5g connectivity.
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Segmentation & Regional Insights
The wearable ai market covered in this report is segmented –
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
North America was the largest region in the wearable AI market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the wearable ai market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the wearable ai market report are Amazon Inc., Apple Inc., Google Inc., Samsung Electronics Co. Ltd., Microsoft Corporation, Misfit Inc., Huawei Technologies Co. Ltd., Sony Corporation, LG Electronics Inc., International Business Machines Corporation, Qualcomm Technologies Inc., Oracle Corporation, Xiaomi Inc., Bose Corporation, Nokia Corporation, Asus, Motorola Solutions Inc., Seiko Epson Corporation, Garmin Ltd., Fossil Group Inc., Razer Inc., Fitbit Inc., TAG Heuer S.A., Zepp Health Corporation, TomTom International B.V., Polar Electro Oy, Suunto Oy, Vuzix Corporation, Aliph Brands LLC, Zephyr Technology Corporation
The wearable ai market report table of contents includes:
1. Executive Summary
2. Wearable AI Market Characteristics
3. Wearable AI Market Trends And Strategies
4. Wearable AI Market – Macro Economic Scenario
5. Global Wearable AI Market Size and Growth
……….
32. Global Wearable AI Market Competitive Benchmarking
33. Global Wearable AI Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Wearable AI Market
35. Wearable AI Market Future Outlook and Potential Analysis
36. Appendix
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