The CAGR of the global wearable AI market size is registered at 26.20% during the forecast period 2021-2027.
The wearable electronics products are designed on intelligent operation features. Some of the Wearable AI devices are smart gloves, smart watches, smart eyewear, and smart ear wears, etc. Wearable Artificial Intelligence applications are widely used in automotive, electronics, media & entertainment, healthcare, military & defense, etc. Renowned companies like Samsung, Apple, Sony have developed innovative strategies to upgrade the technologies that will promote the demand for wearable AI devices.
Factors affecting
Gowth in adoption
The growing adoption of AI assistance in the commercial, residential, and industrial sectors has surged the growth of the global wearable AI market.
Meanwhile, autonomous wearable devices help users to complete the task with ease and efficiency; hence such features are boosting the demand for wearable AI.
Increased use of AI-based technologies in the healthcare industry
Healthcare sector has witnessed a rapid adoption of AI-based products, owing to the specific features of the device such as constant health monitoring of the patients and improving the efficiency of medical workers. Moreover, the rising investment for the development of AI will further accelerate the growth of the wearable AI market.
Advanced wireless technologies
The key goal of IoT and AI is to promote a wireless environment. The increasing demand wireless technologies with the miniaturization of computing devices boost the integration of AI. Wireless computational earpieces are the best example of intelligence amplification devices that are rapidly gaining popularity.
COVID-19 Impact
COVID-19 has amplified the demand for health and fitness applications. Hence, it is enhancing the need for the integration of artificial intelligence (AI) technology in healthcare. COVID-19 impact also raised the need to look over personal hygiene. Wearable tech devices are benefiting users in simplifying the task through innovative mobile applications. Apple recently developed Cardiogram, a mobile application with the advanced sleeping beats per minute (BPM) feature. The application helps to measure the heart rate of the user.
The growing partnership of businesses is likely to boost the growth of the global wearable AI market. Robert Koch Institute signed a deal with Thryve, a healthcare start-up, to start a Corona Data Donation, a mobile application to track heart rate.
The acceleration in the adoption of advanced technologies will strengthen the market during the pandemic. Hospitals and health systems have rapidly increased the use of wearable to witness the signs remotely.
Key Market Segments
By Region
Key Market Players
