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Wearable AI market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Wearable AI market by region.
The CAGR of the global wearable AI market size is registered at 26.20% during the forecast period 2021-2027.
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The wearable electronics products are designed on intelligent operation features. Some of the Wearable AI devices are smart gloves, smart watches, smart eyewear, and smart ear wears, etc. Wearable Artificial Intelligence applications are widely used in automotive, electronics, media & entertainment, healthcare, military & defense, etc. Renowned companies like Samsung, Apple, Sony have developed innovative strategies to upgrade the technologies that will promote the demand for wearable AI devices.
Factors affecting
Gowth in adoption
The growing adoption of AI assistance in the commercial, residential, and industrial sectors has surged the growth of the global wearable AI market.
Meanwhile, autonomous wearable devices help users to complete the task with ease and efficiency; hence such features are boosting the demand for wearable AI.
Increased use of AI-based technologies in the healthcare industry
Healthcare sector has witnessed a rapid adoption of AI-based products, owing to the specific features of the device such as constant health monitoring of the patients and improving the efficiency of medical workers. Moreover, the rising investment for the development of AI will further accelerate the growth of the wearable AI market.
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Advanced wireless technologies
The key goal of IoT and AI is to promote a wireless environment. The increasing demand wireless technologies with the miniaturization of computing devices boost the integration of AI. Wireless computational earpieces are the best example of intelligence amplification devices that are rapidly gaining popularity.
COVID-19 Impact
COVID-19 has amplified the demand for health and fitness applications. Hence, it is enhancing the need for the integration of artificial intelligence (AI) technology in healthcare. COVID-19 impact also raised the need to look over personal hygiene. Wearable tech devices are benefiting users in simplifying the task through innovative mobile applications. Apple recently developed Cardiogram, a mobile application with the advanced sleeping beats per minute (BPM) feature. The application helps to measure the heart rate of the user.
The growing partnership of businesses is likely to boost the growth of the global wearable AI market. Robert Koch Institute signed a deal with Thryve, a healthcare start-up, to start a Corona Data Donation, a mobile application to track heart rate.
The acceleration in the adoption of advanced technologies will strengthen the market during the pandemic. Hospitals and health systems have rapidly increased the use of wearable to witness the signs remotely.
According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.
This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).
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Key Market Segments
By Application
Automotive
Consumer Electronics
Healthcare
Media and Entertainment
Military and Defense
Others
By Type
Smart Ear wear
Smart Glasses
Smart Glove
Smart Watch
Others
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By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Key Market Players
Amazon.com, Inc.
Fitbit, Inc.
Garmin Ltd.
Google Inc. (Alphabet Inc.)
Huawei Technologies Co. Ltd.
International Business Machines Corporation (IBM)
Motorola Mobility LLC (Lenovo)
Tomtom International B.V.
Samsung Electronics Co. Ltd.
Sony Corporation
Other Prominent Players
What is the goal of the report?
• The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
• During the forecast period, the report analyzes the growth rate, market size, and market valuation.
• The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
• The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
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Updated : 2021-12-11 05:20 GMT+08:00
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