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2020
Wearable Ai Market

Wearable AI Market

by Type (Smart Watch, Smart Glasses, Smart Earwear, Smart Glove, and Others), and Application (Consumer Electronics, Healthcare, Automotive, Military and Defense, Media and Entertainment, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026
Update Available On-Demand

Report Code: A06044
Pages: 277
Mar 2020 | 6625 Views
Author(s) : Shantanu Sachan & Divyanshi Tewari , Vineet Kumar
Tables: 109
Charts: 81
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Wearable AI Market Outlook - 2026

The global wearable AI market size was valued at $10.63 billion in 2019, and is projected to reach $69.51 billion by 2026, to register a CAGR of 26.50% during the forecast period.

The electronics that is manufactured to be worn on consumer’s body with intelligent operation performing capabilities is termed as wearable AI. Wearable AI consist of intelligent devices such as smart watches, smart earwears, smart eyewear, smart gloves, and others. The wearable AI finds application in consumer electronics, healthcare, automotive, military & defense, media & entertainment, and others. Major players such as Samsung, Apple, Sony and others, have adopted various strategies to develop and upgrade the technology that boosts the wearable AI industry demand.

Wearable AI Market

The development of various intelligent and advanced wearables for different purposes upgrade the wearable AI market trends. For instance, the new Apple Airpods Pro, offers active noise cancellation for immersive sound, transparency mode to hear what’s happening around, they are connected to the iPhone or Apple watch and use virtual assistant Siri and others that provide various other intelligent features. Also, new developments such as, ODG R-9 at Osterhout Group powered by Qualcomm’s Snapdragon 835 SoC, paired with 6GB of RAM, is the smart eyewear that provides multiple features, which increases the competition in the wearable AI industry.

The factors such as growth in adoption of AI assistants, increased penetration of AI in the healthcare industry, and advancement of IoT and integration of wireless technology. Whereas, short life of smart wearables hampers the wearable AI market growth. Further, AI assistance for animal health monitoring and advancement in personal computing is expected to create lucrative wearable AI market opportunity.The factors such as growth in adoption of AI assistants, increased penetration of AI in the healthcare industry, and advancement of IoT and integration of wireless technology. Whereas, short life of smart wearables hampers the wearable AI market growth. Further, AI assistance for animal health monitoring and advancement in personal computing is expected to create lucrative wearable AI market opportunity.

Segment Overview

Based on wearable AI market analysis, the market is segmented into type, application, and region. By type, it is categorized into smart watch, smart glasses, smart earwear, smart gloves, and others. Among which, the smart watch segment dominated the market. Based on application, it is divided into consumer electronics, healthcare, automotive, military & defense, media & entertainment and others. In 2018, the consumer electronics segment captures a major wearable AI market share in terms of revenue, owing to adoption of wearable gadgets and devices round the world. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Wearable AI Market
By Type

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Smart Glove and Others segment is projected as one of the most lucrative segments.

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Top Impacting Factors

The dynamics such as growth in adoption of AI assistants, increased penetration of AI in the healthcare industry, advancement of IoT and integration of wireless technology drive the global wearable AI market. However, short life of smart wearables hampers the market. Furthermore, AI assistance for animals and advancement in personal computing is expected to create lucrative opportunities for wearable AI during the forecast period.The dynamics such as growth in adoption of AI assistants, increased penetration of AI in the healthcare industry, advancement of IoT and integration of wireless technology drive the global wearable AI market. However, short life of smart wearables hampers the market. Furthermore, AI assistance for animals and advancement in personal computing is expected to create lucrative opportunities for wearable AI during the forecast period.

Wearable AI Market
By Application

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Consumer electronic segment is expected to secure leading position during forecast period.

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Some major factors impacting the market growth are given below:

Growth in adoption of AI assistants

The use of AI assistance in various sectors such as residential, commercial and industrial has increased over the recent years. The use of autonomous wearable devices assists users and provides ease and convenience to accomplish task. Therefore, the use of such intelligent wearables makes daily activity easy for consumers, which increases the market demand.  

Increased penetration of AI in healthcare industry

The advancement and rapid development of healthcare has witnessed the integration of AI. The AI devices assist diagnostics and doctors for monitoring health patients. Further, the increased investment in methods to develop AI for further support in healthcare drives the market of wearable AI.
Advancement of IoT and integration of wireless technology

The main objective of IoT and AI is wireless connectivity with intelligent operation control. Further, the advancement of these technologies with miniaturization of computational devices promotes the integration of AI in these wireless wearable devices. Hearables, or wireless in-ear computational earpieces, are an example of intelligence amplification devices that have been adopted recently and rapidly.

Increased advancements in personal computing

The personal computing over the years has advanced due to technological advancements. There is an immense opportunity for business leaders to capitalize on intelligence-amplifying technology. Each new device further reduces the barriers between an individual and an organization’s knowledge and provides a new platform on which businesses can build applications to connect with customers, employees, and partners.

Competitive Analysis

The key players in the wearable AI market that are analyzed in the report 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 key players adopt various key strategies for market growth such as product launch, product development, collaboration, partnership, and various others. For instance, Amazon launched its smart glasses, echo frame. They provide hands-free access to Alexa to Make calls, set reminders, add to your to-do lists, listen to podcasts, or control your smart home from anywhere.

Key Benefits for Stakeholders:

  • This report provides an extensive analysis of the current and emerging market trends and dynamics in the global wearable AI market.
  • In-depth analysis is conducted by semiconductor and electronics market estimations for the key market segments between 2018 and 2026.
  • Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
  • Key players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the global wearable AI market.

Wearable AI Market Report Highlights

Aspects Details
By Type
  • Smart Watch
  • Smart Glasses
  • Smart Earwear
  • Smart Glove
  • Others
By Application
  • Consumer electronics
  • Healthcare
  • Automotive
  • Military and Defense
  • Media and Entertainment
  • Others
By Region
  • North America  (U.S., Mexico, Canada)
  • Europe  (UK, Germany, France, Italy, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
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
 

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The global wearable AI market possesses a high growth potential, owing to the development of the wireless connectivity. The current business scenario is witnessing a growth in adoption of AI assistants, particularly in developing regions, such as India and South Korea, which propels the growth of the market. Moreover, companies in this industry are adopting various innovative techniques to provide consumers with enhanced wearable technologies for various applications globally.

Wearable AI offers numerous benefits such as adoption of AI assistants in devices, increased penetration of AI in the healthcare industry, whereas, short life of smart wearables hampers the market growth. Furthermore, AI assistance for animal health monitoring and advancement in personal computing is expected to create lucrative opportunities for wearable AI during the forecast period.

Key players operating in the global 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.

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