Meticulous Research® –market research company is studying market titled “Wearable AI Devices Market by Product Type (Smart Watch, Ear Wear, Eye Wear, Others), End-use Industry (Consumer Electronics, Healthcare, Enterprise, Gaming, Others), Components (Controllers, Sensors, Actuators, Networking, Others), Learning (Symbolic Learning, Deep Learning, Natural Language Programing, Others), Mode of Connectivity (Cellular, NFC, Bluetooth, Wi-Fi, Wi-Fi+Bluetooth, ANT+, GPS, Others), and Region - Global Forecast to 2024’’.
A wearable device is a technology that is worn on the human body. This type of device has become a more common part of the tech world as companies have started to evolve more types of devices that are small enough to wear and that include powerful sensor technologies that can collect and deliver information about their surroundings. AI-enabled technology has the ability to increase the capabilities of today's wearable devices. Connected devices and AI-enabled technology are expected to upsurge life expectancy and improve life quality. Wearable play an important role in this outlook as the simplest, most convenient tools to collect health data, monitor, and interact with users on the go.
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The key factors driving the growth of this market are increase in demand for AI assistants, advancements in wireless technologies, rising adoption of VR/AR based head-mounted device in several verticals, increase in consumer preference and demand for advanced wearable devices, and augmentation of operations in healthcare industry. Moreover, wearable as a service and wearables for pets and animals offer significant growth opportunities for wearable AI devices market players. However, unstable growth of consumer electronics sector and rapidly evolving consumer electronics sector with shorter life cycle are expected to hinder the growth of this market to some extent. On the other hand, data privacy compliances and regulations and designing technologically advanced product along with fashionable elements are the key challenges of this market.
Analysis of Wearable AI Devices Market Segments
The global wearable AI devices market is segmented by Product Type (Smartwatch, Ear Wear, Eye Wear, Others), End-use Industry (Consumer Electronics, Healthcare, Enterprise, Gaming, Others), Components (Controllers, Sensors, Actuators, Networking, Others), Learning (Symbolic Learning, Deep Learning, Natural Language Programing, Others), Mode of Connectivity (Cellular, NFC, Bluetooth, Wi-Fi, Wi-Fi+Bluetooth, ANT+, GPS, Others), and Region.
Smartwatch Segment Dominates the Global Wearable AI Devices Market, by Product
Smartwatch segment accounted for the largest share in 2018. The large share of this segment is attributed to the simplicity of wear and convenient use of large number of functionalities on a single touch and provide sensor data like heart rate monitoring and sleep tracking.
Consumer Electronics Segment is to Dominate the Wearable AI Devices Market, by End-Use Industry
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Consumer electronics segment accounted for the largest share in 2018. The large share of this segment is attributed to the rising usage of smart wearable devices by consumers to improve their lifestyle.
Wearable AI Devices Market Key Players
The major players operating in the global wearable AI devices market are Apple Inc. (U.S.), Amazon.Com Inc. (U.S.), Google LLC (U.S.), Microsoft Corporation (U.S.), Sony Corporation (Japan), Garmin Ltd. (U.S.), Oracle Corporation (U.S.), Huawei Technologies Co., Ltd. (China), Samsung Electronics Co., Ltd. (South Korea), Fitbit, Inc. (U.S.), Bragi GmbH (Germany), Motive Mechatronics Inc. (U.S.), Moov Inc. (U.S.), Focus Ventures, Inc. (Philippines), BioBeats Inc. (U.K.), and IBM Corporation (U.S.).
Future Outlook of Wearable AI Device Market
AI assistants have the ability to organize and maintain information and include the management of emails, files, and to do lists. AI assistants help answer and respond to queries based on data that the user put into it. They are the robot that solves problems in real-time which enhance human capability and productivity. Thereby, in coming years, adoption of AI assistants is expected to increase in various industry.
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Wearable AI Devices Market Segmentation
Wearable AI Devices Market, by Product Type
• Smart Watch
• Ear Wear
• Eye Wear
• Other Body Wear
Wearable AI Devices Market, by End-Use Industry
• Consumer Electronics
• Healthcare
• Enterprise and Industrial
• Gaming
• Others
Wearable AI Devices Market, by Components
• Controller
• Sensors
• Actuators
• Networking
• Others
Wearable AI Devices Market, by Mode of Connectivity
• Cellular
• NFC
• Bluetooth
• Wi-Fi
• Wi-Fi+Bluetooth
• ANT+
• GPS
• Others
Wearable AI Devices Market, by Geography
• North America
• Europe
• Asia-Pacific
• Rest of the World
Key Players in the Market
• Apple Inc.
• Com Inc.
• Google LLC
• Microsoft Corporation
• Sony Corporation
• Garmin Ltd.
• Oracle Corporation
• IBM Corporation
• Huawei Technologies Co., Ltd.
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