About Wearable Artificial Intelligence
The electronic devices which are manufactured to be worn on a consumer’s body with intelligent operation performing capabilities are termed wearable Artificial Intelligence. Wearable Artificial Intelligence consists of intelligent devices such as smartwatches, smart ear wears, smart eyewear, smart gloves, and others. Wearable Artificial Intelligence finds application in consumer electronics, healthcare, automotive, military & defense, media & entertainment, and others. The Healthcare sector became an important base for artificial intelligence products as it directly collects data from the body to the health parameters which indicates the vital sign of the body.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Wearable Artificial Intelligence market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Wearable Artificial Intelligence market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Apple (United States), Samsung (South Korea), Google (United States), Microsoft (United States), Sony (Japan), Garmin (United States), Fitbit (United States), Huawei (China), Amazon (United States), IBM (United States) and Oracle (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Wearable Artificial Intelligence market by , Application (Individual, Commercial and Industrial) and Region.
On the basis of geography, the market of Wearable Artificial Intelligence has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Deployment, the sub-segment i.e. On Premise will boost the Wearable Artificial Intelligence market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Product, the sub-segment i.e. Smart Watch will boost the Wearable Artificial Intelligence market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offering, the sub-segment i.e. Hardware will boost the Wearable Artificial Intelligence market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Innovation in Different Wearable Devices like Sunglasses and Earphones integrated with Artificial Intelligence
Market Growth Drivers:
Rising Demand for the Artificial Intelligence-Driven Technology and Wearables and The increasing popularity of Automation Solutions
Challenges:
Rapidly Developing Technology Variables and Less Awareness about Wearable Artificial Intelligence as a Product
Restraints:
The threat of Data Breach and Malware Attacks and High Costs involved in Manufacturing and Employing Wearable Artificial Intelligence
Opportunities:
Rising Demand for the Wearable Artificial Intelligence in Sports and Fitness Industry for Tracking the Track Record and Fitness
Market Leaders and their expansionary development strategies
IBM, a leader in artificial intelligence and software solutions, partnered with HeartBit, a Hungarian start-up. This partnership led to the launch of a new device which is a wearable electrocardiogram (ECG). The HeartBit wearable ECG monitor generates 10,000 data points per second and the company has teamed up with IBM for leveraging their Cloud.
In 2021, AI/ML Innovations Inc., a company advancing Artificial Intelligence/Machine Learning technologies with Health Gauge, launched The Phoenix, the newest, leading-edge version of its wearable health monitoring solution. The Phoenix provides health and fitness tracking services with help of its wearable health monitors (smartwatch), including the ability to monitor blood pressure, heart rate, heart rate variability, ECG, PPG, step count, sleep patterns.
Key Target Audience
Wearable Artificial Intelligence Provider, Software Developer, Component Manufacturer, Device Manufacturer, Research Institutes, End-User Industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.