Global Wearable AI Market Trends Forecast 2024 - 2033
6 Aug, 2024
The wearable AI market has seen exponential growth, reaching $32.12 billion in 2023 and expected to reach $41.92 billion in 2024, with a CAGR of 30.5%. It's projected to soar to $120.7 billion by 2028. Drivers include integration with smartphones and expansion of healthcare applications. Anticipated trends comprise advances in sensor technologies and integration with augmented reality, alongside AI-powered wearable assistants and 5G connectivity.
Major Driver In The Wearable AI Market
The wearable AI market is positioned for significant growth due to escalating demand for advanced wearable devices. These devices are pivotal in generating data for AI algorithms and seamlessly integrating AI-driven functionalities. The rise in watch exports and sales underscores consumer interest in wearable technology, creating a favorable landscape for the adoption of wearable AI technologies.
Request A Free Sample Of The Global Wearable AI Market ReportWearable AI Market Competitive Landscape
Amazon Inc., Apple Inc., Google Inc., Samsung Electronics Co. Ltd., Microsoft Corporation, Misfit Inc., Huawei Technologies Co. Ltd., Sony Corporation, LG Electronics Inc., International Business Machines Corporation, Qualcomm Technologies Inc., Oracle Corporation, Xiaomi Inc., Bose Corporation, Nokia Corporation, Asus, Motorola Solutions Inc., Seiko Epson Corporation, Garmin Ltd., Fossil Group Inc., Razer Inc., Fitbit Inc., TAG Heuer S.A., Zepp Health Corporation, TomTom International B.V., Polar Electro Oy, Suunto Oy, Vuzix Corporation, Aliph Brands LLC, Zephyr Technology Corporation
Key Wearable AI Market Trend
Technological advancements are driving growth in the wearable AI market, with major companies leveraging new technologies to maintain market leadership. Apollo Neuroscience Inc., a US-based healthcare solutions provider, introduced Apollo Labs in March 2023. This AI-driven wearable technology, Apollo Vibes, utilizes low-frequency sound waves to enhance physiological balance, improve sleep quality, and reduce stress and anxiety levels.
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Wearable AI Market Segmentation
The wearable ai market covered in this report is segmented –
1) By Type: Smart Watch, Smart Eyewear, Smart Earwear, Other Types
2) By Component: Processors, Connectivity IC (Integrated Circuit), Sensors
3) By Operation: On-Device AI (Artificial Intelligence), Cloud-Based AI (Artificial Intelligence)
4) By Application: Consumer Electronics, Healthcare, Automotive, Military And Defense, Media And Entertainment, Other Applications
By Geography: The regions covered in the wearable ai market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the wearable AI market in 2023.
The Wearable AI Global Market Report 2024 furnishes information about the global wearable ai market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.