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Wearable AI Market

Wearable AI Market

Wearable AI Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

145

Base Year:

2021

Date

Mar - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1364

Segments Covered
  • By Application Consumer electronics, Healthcare, Automotive, Military and Defense, Media and Entertainment, Others
  • By Type Smart Watch, Smart Glasses, Smart Earwear, Smart Glove, Others
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: 12.10 USD Million
Revenue 2028Revenue 2028: 46.38 USD Million
Revenue CAGRRevenue CAGR (2022 - 2028): 25.10%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Wearable AI Market Share

Wearable AI Market

Market Synopsis

Global Wearable AI market is valued at 12.10 USD Million in 2021 and is projected to reach a value of 46.38 USD Million by 2028 at a CAGR of 25.10% over the forecast period. Wearable products are frequently used for fitness and health monitoring which provides attractive growth opportunities for the Wearable AI market during the forecast period. Moreover, wearable technology has gained significant traction due to the boom in the fitness trend among consumers, especially during the covid-19 pandemic which is driving the growth of the Wearable AI market during the forecast period. The increasing demands for smart devices in the healthcare sector and the rise in the demand for IoT devices are driving the growth of the Wearable AI market during the forecast period. The growing advancement in research has been launching various innovative equipment in recent years and has been involved in driving the growth of the Wearable AI market during the forecast period. The growth of the Wearable AI market can be attributed to the demanding lifestyle developed and developing countries, and the increase in the advancement in wearable products such as wristbands, smart goggles, and smart shoes which are expected to drive the Wearable AI market growth in the upcoming years. The factors such as the ability to connect to the internet and provide data exchange options in between a device and network are leading the trend of wearable technology which is projected to boost the Wearable AI market growth in the upcoming years.

Wearable AI Market Size, 2021 To 2028 (USD 46.38 Million)

Market Segmentation:

The Wearable AI market is segmented on the basis of application, and type. On the basis of application, the market is segmented as consumer electronics, Healthcare, Automotive, Military and Defense, Media and Entertainment, and Others. By types, the market is segmented as Smart Watch, Smart Glasses, Smart Earwear, Smart Glove, and Others.

Below tree is interactive. You can click the nodes to get more information.

Smart Watch segment acquires the largest share of the wearable market during the forecast period

A fitness watch or band can be connected with mobile applications to provide fitness-related information along with statistics to the user. Some of the popular smartwatch manufacturers for sports and fitness applications are Apple, Xiaomi, Nike, and Fitbit. The increasing adoption of fitness trackers and smartwatches in the healthcare industry is projected to contribute to the growth of the smartwatch segment in the Wearable AI market during the forecast period. Smartwatches that are interconnected with disease-specific functions, particularly the one that provides cardiovascular indications, are projected to increase the adoption of smartwatches in the upcoming years. Furthermore, Apple Inc; smartwatches which are equipped with electric heart sensors in order to detect abnormal heart rhythms, have gained an extensive growth in demand for smartwatches in the years to come.

The consumer electronics segment is predicted to grow at the highest CAGR during the forecast period

Customer electronics have various applications, involving garments and fashion, fitness and sports, infotainment, multimedia, and multifunction which are expected to increase the demand for consumer electronics during the forecast period. By taking into consideration the demand for wearable consumers electronics from the consumers, the key players in the market are attentive to developing devices that can keep tracking the end-users working hours. Additionally, growth in machine-to-machine communication and the growth in connected devices is estimated to contribute to the growth of the wearable consumer electronics sector which frequently supports the wearable market growth in upcoming years.

APAC region holds the largest wearable market share during the forecast period

Manufacturers in India and China are providing wearable devices at a low price and making them affordable for customers. Many of the international industries get their wearable devices manufactured abs assembled by the local manufacturers located in the region and then brand their name on the device. The APAC region is involved high populated countries which increases the adoption rate of consumer electronics which ultimately increases the growth of the APAC region in the coming years. Wearable device manufacturers are continuously advancing and innovating wearable devices to attain a competitive advantage and increase their growth during the forecast period. Additionally, the increasing awareness among consumers regarding fitness, availability of high-speed internet connectivity, and technological advancement are the major factors expected to drive the wearable market growth in the country in the upcoming years.

Competitive Landscape-

The prominent players in the Wearable AI market are focusing on collaborations in order to enhance their presence and gain a competitive advantage in the Wearable AI market. Major players in the Wearable AI market are Amazon.com, Inc., Fitbit, Inc., Garmin Ltd., Google Inc., Huawei Technologies Co. Ltd., International Business Management Corporation (IBM), Motorola Mobility LLC, TomTom International B.V., Samsung Electronics Co. Ltd., and Sony Corporation.

Wearable AI Market is Segmented as Follows:

Parameter Details
Segments Covered
  • Application (Consumer electronics, Healthcare, Automotive, Military and Defense, Media and Entertainment, Others)
  • Type (Smart Watch, Smart Glasses, Smart Earwear, Smart Glove, Others)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Amazon.com Inc.
  • Fitbit Inc.
  • Garmin Ltd.
  • Google Inc.
  • Huawei Technologies Co. Ltd.
  • International Business Management Corporation (IBM)
  • Motorola Mobility LLC
  • TomTom International B.V.
  • Samsung Electronics Co. Ltd.
  • and Sony Corporation.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Wearable AI Market is Tabulated as Follows:

FAQ
Frequently Asked Question
  • The global Wearable AI valued at 12.10 USD Million in 2020 and is expected to reach 46.38 USD Million in 2028 growing at a CAGR of 25.10%.

  • The prominent players in the market are Amazon.com, Inc., Fitbit, Inc., Garmin Ltd., Google Inc., Huawei Technologies Co. Ltd., International Business Management Corporation (IBM), Motorola Mobility LLC, TomTom International B.V., Samsung Electronics Co. Ltd., and Sony Corporation..

  • The market is project to grow at a CAGR of 25.10% between 2021 and 2028.

  • The driving factors of the Wearable AI include

    • increasing demands for smart devices in the healthcare sector and the rise in the demand for IoT devices

  • North America was the leading regional segment of the Wearable AI in 2020.