Technological advancement in IT industry coupled with the integration of IoT in devices has forced the manufacturers to develop more enhanced smart products. Wearable AI is used to track a person’s data, such as location and health. Rise in disposable income in emerging economies has led to the increase in adoption of wearable devices. The consumer awareness towards health and fitness due to the growing prevalence of obesity and chronic diseases among consumers have resulted in the growth of wearable AI market. Advancement in miniaturized electronics and the development of high computational power is further propelling the market growth of wearable AI market. Moreover, the growing adoption of fitness band and smartwatches among consumers due to the availability of mobile connectivity to track and administer fitness level, make & receive calls tend to drive the market share of wearable AI across the globe.
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The wearable AI market is segmented on the basis of product and applications. Based on the product, the market is segmented into smartwatches and fitness bands, eyewear, and earwear. Among products, the eyewear segment is expected to register significant growth in the market during the forecast period. This is owing to the growing demand for augmented reality and virtual reality. Based on application, the market is segmented into consumer electronics, gaming, and enterprise. The wearable AI finds its significant application in consumer electronics segment, owing to the rising consumer preference for smart wearable devices to enhance their living standards. Moreover, many companies are integrating advanced features into wearable consumer electronics to efficiently track their data, such as fitness level, heartbeats, and calorie burning, among others.
Market Segmentation
Global Wearable AI Market by Product type
- Smartwatches and Fitness Bands
- Eyewear
- Earwear
Global Wearable AI Market by Application
- Consumer Electronics
- Gaming
- Enterprise
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