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Wearable AI Market (Type - Smart Watch, Smart Glasses, Smart Earwear, Smart Glove, and Others; Application - Consumer Electronics, Healthcare, Automotive, Military and Defense, Media and Entertainment, and Others; Operation - On-device AI, and Cloud-based AI): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : July, 2020

  • Rep Id : ICT1450

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on the wearable AI market provides an in-depth analysis of segments and sub-segments in the global as well as regional wearable AI market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional wearable AI market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global wearable AI market. According to the report, the global wearable AI market is projected to grow at a healthy CAGR over the forecast period of 2020-2026.

 

Market Insight

The wearable AI (Artificial Intelligence) technology is becoming pervasive with its increasing applications in other sectors comprising consumer electronics, emergency service, business, and military & defense applications. The wearable industry is flourishing with innovations in the market at reasonable prices. The wearable AI consists of intelligent devices, for instance, smart watches, smart ear wears, smart eyewear, smart gloves, and many others. Additionally, the current concern over the spread of novel coronavirus is also anticipated to have a positive impact on the wearable AI market. Artificial Intelligence (AI) along with Internet of Things (IoT) solutions is anticipated to substantially contribute while responding to the COVID-19 epidemic and address constantly evolving challenges. The existing situation due to the outbreak of the epidemic will stimulate pharmaceutical vendors and healthcare establishments to develop their R&D investments in AI, acting as a core technology for allowing several initiatives. Furthermore, the use of AI can help in reducing operating costs, and at the same time, can escalate customer satisfaction.

 

The wearable AI market growth is accredited to the increasing proliferation of advanced technologies containing AI and 5G smartphone penetration. Smartphones are extensively used for gathering and exploration of data collected from wearable devices. Furthermore, the exponential growth of the smartphone market has amplified the enlargement of android & IoT-enabled responsive and user-friendly wearable device apps. Additional factors hastening market growth are the rapid urbanization and rising disposable income in emerging economies, which dictate the wearable AI technology future trends. Moreover, with rapid industrialization and increasing employment in service-based industries, there has been an ultimate shift in consumer spending patterns toward consumer electronics products like fitness & health monitoring smart wearable. However, data privacy compliances and regulations are the factors hampering the growth of the wearable AI market during the forecast period.

 

Among the geographies, North America region is expected to hold the largest share in the global wearable AI market owing to the rising popularity of wearable technologies in the countries including the U.S. and Canada. Further, factors such as smartphone penetration, advanced connectivity infrastructure, and the rapid usage of smart wearable in the healthcare sector have accelerated the growth of the wearable AI in the North American region. However, the Asia Pacific region is expected to witness considerable growth in the wearable AI market during the forecast period. The rising per capita income in Asian nations will boost the adoption of wearable AI devices. In addition, the increasing adoption of novel technologies in enterprise and industrial applications will propel the wearable AI market in the region.

 

Segment Covered

The report on the global wearable AI market covers segments such as type, application, and operation. On the basis of type, the sub-markets include smart watch, smart glasses, smart earwear, smart glove, and others. On the basis of application, the sub-markets include consumer electronics, healthcare, automotive, military and defense, media and entertainment, and others. On the basis of operation, the sub-markets include on-device AI, and cloud-based AI.

 

Companies Profiled:

The report provides profiles of the companies in the market such as 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 Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of wearable AI market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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