Wearable AI Market
Wearable AI Market Size, Share & Trends Analysis Report by Product (Smart Watch, Ear Wear, Eye Wear, and Others), by Component (Display Processor, Power Management, Connectivity IC Memory/Storage, and Sensors UI), by Operation (On-Device AI, and Cloud-Based AI), and by Application (Consumer Electronics, Enterprise & Industrial Healthcare, and Others) Forecast Period (2023-2030)
Wearable AI market is anticipated to grow at a CAGR of 29.8% during the forecast period (2023-2030). The market's growth is driven by the increasing global awareness of fitness monitoring. People worldwide are becoming more interested in tracking various fitness metrics like steps taken, distance covered, calories burned, and workout modes as they strive to improve their fitness levels. Consequently, industry players are introducing new products to meet the demand for advanced devices like the Smart Vital Ultra and GOQii Stream. For instance, in August 2022, GOQii, launched the Smart Vital Ultra and GOQii Stream devices aimed at encouraging young adults and youth to pursue active and healthy lifestyles. Smart Vital Ultra is a device that features a large, high resolution screen. It is capable of monitoring blood oxygen saturation levels (SpO2), heart rate, sleep patterns, steps, distance, calories burnt, and active time. It additionally supports 18 different exercise modes, including indoor, outdoor, and water sports.
Segmental Outlook
The global wearable AI market is segmented on the product, component, operation, and application. Based on the product, the market is sub-segmented into smart watch, ear wear, eye wear, and others. Based on the component, the market is sub-segmented into display processor, power management, connectivity IC memory/storage, and sensors UI. Based on the application, the market is sub-segmented into on-device, and cloud-based. Furthermore, on the basis of application, the market is sub-segmented into consumer electronics, enterprise & industrial healthcare, and others. Among the application, the consumer electronics sub-segment is anticipated to hold a considerable share of the market owing to the growing demand for consumer wearable electronic devices used for fitness tracking, sports, entertainment, and multimedia. Wearable technology used to keep track of regular activities and health goals. For instance, in February 2022, Noise launched a new smartwatch Noise Colorfit. The watch includes AI voice assistance, Bluetooth calling, a heart rate monitor, an oxygen level sensor, and other essential health monitoring functions.
The Smart Watch Sub-Segment is Anticipated to Hold a Considerable Share of the Global Wearable AI Market
Among the product, the smart watch sub-segment is expected to hold a considerable share of the global wearable AI market. The growth of this segment can be attributed to the increasing accessibility and convenience of smartwatches. Smartwatches like the Maxima Pro Turbo 2 now offer features such as Bluetooth calling, making it easier for customers to stay connected without having to take out their smartphones. This enhanced connectivity is a significant motivator for consumers. As a result, market players are introducing new products to meet the demand for AI-powered smartwatches. For instance, in June 2023, Maxima launched the AI-powered Maxima Pro Turbo 2 smartwatch. It has an active rotating crown for navigating through menus and functions, a 1.96-inch Ultra HD display, and an ultra-premium metallic design. Additionally, it has one-tap Bluetooth calling, that allows users to place and receive calls.
Regional Outlook
The global wearable AI market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, Asia-Pacific is anticipated to hold a prominent share of the market across the globe, owing to the growing acceptance of new technologies in commercial and industrial applications.
Global Wearable Artificial Intelligence (AI) Market Growth by Region 2023-2030
The North America Region is Expected to Grow at a Significant CAGR in the Global Wearable AI Market
Among all regions, the North America regions is anticipated to grow at a considerable CAGR over the forecast period. The growth of wearable technology in various regions can be attributed to the incorporation of advanced sensors into these devices. Innovations in sensor technology have significantly improved the accuracy of health data collected by wearables. These sensors are now capable of monitoring a wide range of physiological parameters, enhancing the ability to detect diseases early. Consequently, market players are adopting new strategies, such as disease detection. For instance, in May 2023, the US Department of Defense (DoD) developed a wearable device designed to detect diseases six days prior symptoms appear. The Defense Innovation Unit (DIU) created an AI system in collaboration with the corporate sector that was extremely effective at detecting illnesses during the COVID-19 pandemic.
Market Players Outlook
The major companies serving the wearable AI market include Amazon.com, Inc., Fitbit LLC, Garmin Ltd., Google, GOQii. and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in May 2022, IBM signed a Strategic Collaboration Agreement (SCA) with Amazon Web Services, Inc. (AWS), with desires to offer a wide range of its software catalog as Software-as-a-Service (SaaS) on AWS.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global wearable AI market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Apple Inc.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Huawei Technologies Co. Ltd
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. IBM Corp.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Wearable AI Market by Product
4.1.1. Smart Watch
4.1.2. Ear Wear
4.1.3. Eye Wear
4.1.4. Other Body Wear (Fitness Trackers, Smart Clothing, Accessories, Footwear)
4.2. Global Wearable AI Market by Component
4.2.1. Display Processor
4.2.2. Power Management
4.2.3. Connectivity IC Memory/Storage
4.2.4. Sensors User Interface (UI)
4.3. Global Wearable AI Market by Operation
4.3.1. On-Device AI
4.3.2. Cloud-Based AI
4.4. Global Wearable AI Market by Application
4.4.1. Consumer Electronics
4.4.2. Enterprise & Industrial Healthcare
4.4.3. Others (Retail, Agriculture, Construction, Military & Defense)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Amazon.com, Inc.
6.2. Fitbit LLC
6.3. Garmin Ltd.
6.4. Google
6.5. GOQii.
6.6. Huawei Technologies Co. Ltd
6.7. Humane, Inc.
6.8. IBM Corp.
6.9. Motorola Solutions, Inc.
6.10. Samsung Electronics Co., Ltd.
6.11. Sony Group Corporation
6.12. TomTom International BV.
1. GLOBAL WEARABLE AI MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2022-2030 ($ MILLION)
2. GLOBAL SMART WATCH AS WEARABLE AI MARKET RESEARCH AND ANALYSIS BY REGION,2022-2030 ($ MILLION)
3. GLOBAL EAR WEAR AS WEARABLE AI MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
4. GLOBAL EYE WEAR AS WEARABLE AI MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
5. GLOBAL OTHER PRODUCTS IN WEARABLE AI MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
6. GLOBAL WEARABLE AI MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
7. GLOBAL DISPLAY PROCESSOR IN WEARABLE AI MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
8. GLOBAL POWER MANAGEMENT IN WEARABLE AI MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
9. GLOBAL CONNECTIVITY IC MEMORY/STORAGE IN WEARABLE AI MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
10. GLOBAL SENSORS UI IN WEARABLE AI MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
11. GLOBAL WEARABLE AI MARKET RESEARCH AND ANALYSIS BY OPERATION, 2022-2030 ($ MILLION)
12. GLOBAL ON-DEVICE WEARABLE AI MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
13. GLOBAL CLOUD-BASED WEARABLE AI MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
14. GLOBAL WEARABLE AI MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
15. GLOBAL WEARABLE AI IN CONSUMER ELECTRONICS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
16. GLOBAL WEARABLE AI IN ENTERPRISE & INDUSTRIAL HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
17. GLOBAL WEARABLE AI IN OTHER APPLICATIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
18. GLOBAL WEARABLE AI MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
19. NORTH AMERICAN WEARABLE AI MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
20. NORTH AMERICAN WEARABLE AI MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2022-2030 ($ MILLION)
21. NORTH AMERICAN WEARABLE AI MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
22. NORTH AMERICAN WEARABLE AI MARKET RESEARCH AND ANALYSIS BY OPERATION, 2022-2030 ($ MILLION)
23. NORTH AMERICAN WEARABLE AI MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
24. EUROPEAN WEARABLE AI MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
25. EUROPEAN WEARABLE AI MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2022-2030 ($ MILLION)
26. EUROPEAN WEARABLE AI MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
27. EUROPEAN WEARABLE AI MARKET RESEARCH AND ANALYSIS BY OPERATION, 2022-2030 ($ MILLION)
28. EUROPEAN WEARABLE AI MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
29. ASIA- PACIFIC WEARABLE AI MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
30. ASIA- PACIFIC WEARABLE AI MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2022-2030 ($ MILLION)
31. ASIA- PACIFIC WEARABLE AI MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
32. ASIA- PACIFIC WEARABLE AI MARKET RESEARCH AND ANALYSIS BY OPERATION, 2022-2030 ($ MILLION)
33. ASIA- PACIFIC WEARABLE AI MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
34. REST OF THE WORLD WEARABLE AI MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
35. REST OF THE WORLD WEARABLE AI MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2022-2030 ($ MILLION)
36. REST OF THE WORLD WEARABLE AI MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
37. REST OF THE WORLD WEARABLE AI MARKET RESEARCH AND ANALYSIS BY OPERATION, 2022-2030 ($ MILLION)
38. REST OF THE WORLD WEARABLE AI MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
1. GLOBAL WEARABLE AI MARKET SHARE BY PRODUCT, 2022 VS 2030 (%)
2. GLOBAL SMART WATCH AS WEARABLE AI MARKET SHARE BY REGION, 2022 VS 2030 (%)
3. GLOBAL EAR WEAR AS WEARABLE AI MARKET SHARE BY REGION, 2022 VS 2030 (%)
4. GLOBAL EYE WEAR AS WEARABLE AI MARKET SHARE BY REGION, 2022 VS 2030 (%)
5. GLOBAL OTHER PRODUCTS AS WEARABLE AI MARKET SHARE BY REGION, 2022 VS 2030 (%)
6. GLOBAL WEARABLE AI MARKET SHARE BY COMPONENT, 2022 VS 2030 (%)
7. GLOBAL DISPLAY PROCESSOR IN WEARABLE AI MARKET SHARE BY REGION, 2022 VS 2030 (%)
8. GLOBAL POWER MANAGEMENT IN WEARABLE AI MARKET SHARE BY REGION, 2022 VS 2030 (%)
9. GLOBAL CONNECTIVITY IC MEMORY/STORAGE IN WEARABLE AI MARKET SHARE BY REGION, 2022 VS 2030 (%)
10. GLOBAL SENSORS UI IN WEARABLE AI MARKET SHARE BY REGION, 2022 VS 2030 (%)
11. GLOBAL WEARABLE AI MARKET SHARE ANALYSIS BY OPERATION, 2022-2030 ($ MILLION)
12. GLOBAL ON-DEVICE WEARABLE AI MARKET SHARE BY REGION, 2022 VS 2030 (%)
13. GLOBAL CLOUD-BASED WEARABLE AI MARKET SHARE BY REGION, 2022 VS 2030 (%)
14. GLOBAL WEARABLE AI MARKET SHARE ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
15. GLOBAL WEARABLE AI IN CONSUMER ELECTRONICS MARKET SHARE BY REGION, 2022 VS 2030 (%)
16. GLOBAL WEARABLE AI IN ENTERPRISE & INDUSTRIAL HEALTHCARE MARKET SHARE BY REGION, 2022 VS 2030 (%)
17. GLOBAL WEARABLE AI IN OTHER APPLICATIONS MARKET SHARE BY REGION, 2022 VS 2030 (%)
18. GLOBAL WEARABLE AI MARKET SHARE BY REGION, 2022 VS 2030 (%)
19. US WEARABLE AI MARKET SIZE, 2022-2030 ($ MILLION)
20. CANADA WEARABLE AI MARKET SIZE, 2022-2030 ($ MILLION)
21. UK WEARABLE AI MARKET SIZE, 2022-2030 ($ MILLION)
22. FRANCE WEARABLE AI MARKET SIZE, 2022-2030 ($ MILLION)
23. GERMANY WEARABLE AI MARKET SIZE, 2022-2030 ($ MILLION)
24. ITALY WEARABLE AI MARKET SIZE, 2022-2030 ($ MILLION)
25. SPAIN WEARABLE AI MARKET SIZE, 2022-2030 ($ MILLION)
26. REST OF EUROPE WEARABLE AI MARKET SIZE, 2022-2030 ($ MILLION)
27. INDIA WEARABLE AI MARKET SIZE, 2022-2030 ($ MILLION)
28. CHINA WEARABLE AI MARKET SIZE, 2022-2030 ($ MILLION)
29. JAPAN WEARABLE AI MARKET SIZE, 2022-2030 ($ MILLION)
30. SOUTH KOREA WEARABLE AI MARKET SIZE, 2022-2030 ($ MILLION)
31. REST OF ASIA-PACIFIC WEARABLE AI MARKET SIZE, 2022-2030 ($ MILLION)
32. REST OF THE WORLD WEARABLE AI MARKET SIZE, 2022-2030 ($ MILLION)
