Global Wearable AI Market, By Operation (On-Device AI, Cloud-Based AI), Product (Smart Watch, Ear Wear, Eye Wear, Other Body Wear), Component (Display, Processor, Power Management, Connectivity IC, Memory/Storage, Sensors, UI, Others), Application (Consumer Electronics, Healthcare, Enterprise and Industrial, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Wearable AI Market
Wearable AI market will grow at a CAGR of 29.15% in the forecast period of 2021 to 2028. Increase in demand for AI assistants is an essential factor driving the wearable AI market.
Wearable AI is very often used to track a person’s vital signs of data those are related to location, health and fitness or even one’s biofeedback indicating emotion. Although it has some issues like privacy and the extent to which they may affect the way of social interaction and how the person looks wearing them and the issues with user-friendliness, it is being used by millions of users worldwide from smartwatches to fitness trackers, ring and bracelets, even smart glasses.
Rising augmentation of operations in healthcare industry is a crucial factor accelerating the market growth, also increasing emergence of IoT and integration of wireless technology, rising growth prospects of wearable component technology, rise in the consumer preference and demand for advanced wearable devices, increasing disposable income of consumers in emerging economies, rising sales of smart watches, rising focus on trillion (USD) less and health monitoring, increasing technological advancement in consumer electronics and rising smartphone and internet penetration are the major factors among others boosting the wearable AI market. Moreover, rising wearables for pets and animals and rising wearable as a service will further create new opportunities for wearable AI market in the forecast period mentioned above.
However, rising rapidly evolving consumer electronics sector with shorter life cycle, increasing data security concerns and increased cost associated with wearable devices are the major factors among others which will curtail the market growth, while rising data privacy compliances and regulations, increasing designing technologically advanced product along with fashionable elements and increasing issues with charging, power, and battery life optimization will further challenge the wearable AI market in the forecast period mentioned above.
This wearable AI market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on wearable AI market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Wearable AI Market Scope and Market Size
Wearable AI market is segmented on the basis of operation, product, component and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of operation, the wearable AI market is segmented into on-device AI and cloud-based AI.
- Based on product, the wearable AI market is segmented into smart watch, ear wear, eye wear and other body wear.
- Based on component, the wearable AI market is segmented into display, processor, power management, connectivity IC, memory/storage, sensors, UI and others. Connectivity Ic has been further segmented into cellular, NFC, Bluetooth, Wi-Fi+Bluetooth, Wi-Fi, ANT+ and GPS.
- The wearable AI market is also segmented on the basis of application into consumer electronics, healthcare, enterprise and industrial and others.
Wearable AI Market Scope Country Level Analysis
Wearable AI market is analysed and market size, volume information is provided by country, operation, product, component and application as referenced above.
The countries covered in the wearable AI market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the wearable AI market due to increasing presence of prominent players operating in the countries in the region and early adoption of technologically advanced products among individuals in this region. Asia-Pacific is the expected region in terms of growth in wearable AI market due to increasing demand for consumer electronics products among end-users in countries such as China and India in this region.
The country section of the wearable AI market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Wearable AI Market Share Analysis
Wearable AI market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to wearable AI market.
The major players covered in wearable AI market report are Apple Inc., Fitbit, Inc., SAMSUNG, Sony Corporation, Xiaomi., Garmin Ltd., Aliph Brands LLC, TomTom International BV., Huawei Technologies Co., Ltd., Nokia, adidas Group, SUUNTO, CASIO COMPUTER CO., LTD, Misfit, LG Electronics., Qualcomm Technologies, Inc IBM and Oracle among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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