The Wearable AI Market

The AI in wearable devices allows improving the functionalities and performance of the system by offering real-time data and statistics, enhancing the decision-making process, monitoring and interacting with the users. The internet of things (IoT) enables the machine to machine communication and facilitates connectivity to a cloud platform, as a result allowing the use of artificial intelligence in wearable devices. Wearable AI comprises of intelligent types of equipment including smart gloves, smartwatches, smart ear wears, smart eyewear and others. The wearable AI market growth is ascribed to the rising proliferation of improved technologies including AI and 5G smartphone penetration. Smartphones are majorly used for collecting and analysis of data collected from wearable devices. The exceptional growth of the smartphone market has stimulated the development of android & IoT-based and user-friendly wearable device applications. Few other factors enhancing wearable AI market growth are the rapid urbanization and increasing disposable income in developing nations, which direct the wearable technology upcoming trends. With the propelled industrialization and rising employment in service-based businesses, there has been a significant change in consumer expenditure patterns towards consumer electronics products such as fitness & health monitoring smart wearables. These factors have positively influenced accelerated the growth of the global wearable AI market. Moreover, the key objective of IoT and AI is wireless connectivity with intelligent operation control. Further, the advancement of these technologies with miniaturization of computational devices supports the incorporation of AI in these wireless wearable devices. The wireless in-ear computational earpieces are an example of intelligence expansion devices which have been deployed recently and quickly. On the other hand, the factors such as dearth of skilled expertise, engineers and complex connected systems are limiting the market growth.

In addition, the factors such as increase in the adoption of AI assistants, high penetration of AI in the healthcare industry, advancement of IoT and integration of wireless technology will generate opportunities for the marker. Further, AI assistance for monitoring animal health and advancement in personal computing is also projected to provide lucrative wearable AI market opportunity.

The global Wearable AI Market is segregated on the basis of Type as Smart Watch, Smart Glasses, Smart Earwear, Smart Glove and Others. Based on Application the global Wearable AI Market is segmented in Consumer electronics, Healthcare, Automotive, Military and Defense, Media and Entertainment and Others.

The global Wearable AI Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Wearable AI Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.

Competitive Analysis

Apple Inc., Com Inc., Google LLC, Microsoft Corporation, Sony Corporation and others are among the major players in the global Wearable AI Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.

• In May 2021, IBM and The Grainger College of Engineering at the University of Illinois Urbana-Champaign plan to introduce an extensive collaboration designed to increase access to technology education and skill development and to integrate the strengths of academia and the industrial sector to surge breakthroughs in developing areas of technology.
• In May 2021, IBM plans to acquire Waeg, a major Salesforce Consulting Partner in Europe, to expand IBM’s portfolio of Salesforce services and advance IBM’s hybrid cloud and AI strategy. The acquisition builds on IBM’s constant investment in Salesforce consulting services to fulfill the increasing client demand for experience-led business transformation and new customer engagement strategies supported by data, AI and machine learning.
• In April 2021, the IBM made a definitive agreement to acquire Turbonomic, an Application Resource Management (ARM) and Network Performance Management (NPM) software provider based in Boston, MA. The acquisition will offer businesses with wide application observability and management to ensure performance and reduce costs using AI to optimize resources – such as containers, servers, networks, VMs, storage and databases.

The global Wearable AI Market has been segmented as below:

Wearable AI Market, By Type

• Smart Watch
• Smart Glasses
• Smart Earwear
• Smart Glove
• Others

Wearable AI Market, By Application

• Consumer electronics
• Healthcare
• Automotive
• Military and Defense
• Media and Entertainment
• Others

Wearable AI Market, By Region

• Europe
• North America
• Asia Pacific
• Rest of The World

Wearable AI Market, By Company

• Apple Inc.
• Com Inc.
• Google LLC
• Microsoft Corporation
• Sony Corporation
• Garmin Ltd.
• Oracle Corporation
• IBM Corporation
• Huawei Technologies Co., Ltd.
• Samsung Electronics Co., Ltd.
• Fitbit, Inc.
• Bragi GmbH
• Motive Mechatronics Inc.
• Moov Inc.
• FocusVentures, Inc.
• BioBeats Inc.

The report covers the below scope:

• Global Wearable AI Market sizes from 2020 to 2026, along with CAGR for 2020-2026
• Market size comparison for 2019 vs 2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to 2026
• Global Wearable AI Market trends, covering comprehensive range of consumer trends & manufacturer trends
• Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global Wearable AI Market
• Major market opportunities and challenges in forecast timeframe to be focused
• Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
• Comprehensive company profiles of the key industry players

The years considered for the study are as follows:

• Base year - 2019
• Estimated year - 2019
• Projected year - 2020
• Forecast period - 2021 to 2026

Report Scope:

The global Wearable AI Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Wearable AI Market share. Major industry players with significant revenue share include Apple Inc., Com Inc., Google LLC, Microsoft Corporation, Sony Corporation and others.

Why to Buy this Report:

• Gain detailed insights on the Wearable AI industry trends
• Find complete analysis on the market status
• Identify the Wearable AI Market opportunities and growth segments
• Analyse competitive dynamics by evaluating business segments & product portfolios
• Facilitate strategy planning and industry dynamics to enhance decision making

Target Audience:

• The report targeted towards the existing players in the industry is as follows:
• Market Manufacturers/Service Providers
• Market Wholesale/Traders
• Investment and Financial Institutions

Free and Paid Customization based on the requirement

Report Content

1.      Introduction

1.1.       Key Points

1.2.      Report Description

1.3.      Markets Covered

1.4.      Stakeholders

2.     Research Methodology

2.1.      Research Scope

2.2.     Research Methodology

2.2.1.     Market Research Process

2.2.2.    Research Methodology

2.2.2.1.           Secondary Research

2.2.2.2.          Primary Research

2.2.2.3.          Models for Estimation

2.3.     Market Size Estimation

2.3.1.     Bottom-Up Approach

2.3.2.    Top-Down Approach

3.     Executive Summary

4.    Market Overview

4.1.      Introduction

4.2.     Drivers

4.3.     Restraints

4.4.     Opportunities

4.5.     Challenges

5.     Wearable AI Market, By Type

5.1.      Key Points

5.2.  Smart Watch

5.3.  Smart Glasses

5.4.  Smart Earwear

5.5.  Smart Glove

5.6.  Others

6.    Wearable AI Market, By Application

6.1.      Key Points

6.2. Consumer electronics

6.3. Healthcare

6.4. Automotive

6.5.  Military and Defense

6.6. Media and Entertainment

6.7.  Others

7.     Competitive Landscape

7.1.      Introduction

7.2.     Start-up companies- Wearable AI Market

7.3.     Recent Developments

7.3.1.      Mergers & Acquisitions

7.3.2.     New Product Developments

7.3.3.     Portfolio/Production Capacity Expansions

7.3.4.     Joint Ventures, Collaborations, Partnerships & Agreements

7.3.5.     Others

8.    Company Profile

8.1.  Apple Inc.

8.2. Com Inc.

8.3. Google LLC

8.4. Microsoft Corporation

8.5. Sony Corporation

8.6. Garmin Ltd.

8.7.  Oracle Corporation

8.8. IBM Corporation

8.9. Huawei Technologies Co., Ltd.

8.10.                   Samsung Electronics Co., Ltd.

8.11.                    Fitbit, Inc.

8.12.                   Bragi GmbH

8.13.                   Motive Mechatronics Inc.

8.14.                   Moov Inc.

8.15.                   FocusVentures, Inc.

8.16.                   BioBeats Inc.