According to the report published by Zion Market Research, global demand for Wearable Artificial Intelligence market was valued at approximately USD 10.11 Billion in 2019, and is expected to generate revenue of around USD 42.34 Billion by end of 2026, growing at a CAGR of around 21.2% between 2020 and 2026.
Global Wearable Artificial Intelligence Market: Overview
Increasing Globalization across the world followed by rapid technological advancement results the many advanced product entered in to the market. These product works on the principle of Artificial intelligence. The artificial intelligence technology works with a base of human intelligence like visual perception, decision making and speech recognition. These technologies become the parts of the regular consumer products like Eyewear’s, Fitness band, smart watches and others. Healthcare sector become an important base for artificial intelligence products because it directly linked body to the health parameters which indicates the vital sign of the body.
Global Wearable Artificial Intelligence Market: Growth Factors
Wearable Artificial intelligence device will have a huge demand for the forecasted years. High demands from consumer electronic from the young generation are one of the major factors promoting the growth of the market. In addition, rapid technological advancement and penetration of technology in healthcare sector further boost the demand of the market. Rising sales of mobile phone in countries like India and china is the major driving factor for the growth of the market. Rapid penetration of 5G technology followed by government funding will further help the market to in the double digit trend.
Global Wearable Artificial Intelligence Market: Segmentation
The Wearable Artificial Intelligence market is segmented based on product type and application. By product type, the market is divided into Smart Watches, Ear wears, Fitness Band, Head Mounted Display. Smart watches account for the largest market share in the year 2019 and will remain same within the forecasted year. On the basis of Application, the Wearable Artificial Intelligence market includes Consumer Electronics, Enterprises and Gaming Application. Consumer electronics segment dominates wearable artificial intelligence market. Consumers are more focusing on fitness. These device help the person to remain fit and to tract them in proper manner. Region-wise, the global market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Global Wearable Artificial Intelligence Market: Regional Analysis
The Asia Pacific market grows at the highest CAGR% within the forecasted year. The growth is mainly associated with huge population followed with high per-capita expenditures. China and India currently capture the attractive customer base for the world manufacturer. Furthermore, the region holds almost 40% of the total world population. At present, the China is not only the consumer but also the major manufacturer of artificial intelligence technology related products. North America and Europe together hold more than half of the wearable artificial intelligence market.
Global Wearable Artificial Intelligence Market: Competitive Players
Some main participants of the Wearable Artificial Intelligence market are Apple, Samsung, Google, Microsoft, Sony, Garmin, Fitbit, Huawei, Amazon, IBM, Oracle, Bragi, Motive, Shft, Lifebeam, Focusmotion, Moov, Atlas, Biobeats, Physiq, Touchkin and Others.
Wearable Artificial Intelligence Market: Regional Segment Analysis
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
Rising demand for health assistance is one of the major driving factors for the growth of the market. Augmentation of Operation in healthcare industry is also one of the factor which helps in boost of the Wearable Artificial Intelligence of the market.
According to Zion Market Research, global demand for Wearable Artificial Intelligence market is expected to generate revenue of around USD 42.34 Million by end of 2026, growing at a CAGR of around 21.2% between 2020 and 2026.
The Asia Pacific Wearable Artificial Intelligence is the most attractive one due to its Growing awareness, High Population, and diabetic population in the region is expected to propel the demand.
Some main participants of the Wearable Artificial Intelligence market are Apple, Samsung, Google, Microsoft, Sony, Garmin, Fitbit, Huawei, Amazon, IBM, Oracle, Bragi, Motive, Shft, Lifebeam, Focusmotion, Moov, Atlas, Biobeats, Physiq, Touchkin and Others
