Wearable AI Market Booming Growth & Worldwide Trends with Top Companies - Apple, Facebook, Fitbit, Fossil, Garmin, Google, HTC, Huawei Technologies, Jabra, Lenovo, LG Electronics, Microsoft, Panasonic, Samsung Electronics, Sony, Starkey Hearing Technologi

The growth graph of wearable AI market has remained exponential since the last few years, primarily driven by the explosive demand for AI across a spate of verticals. Wearables have been a part of the mainstream for a while now, however, they have registered increased prominence in recent times, driven by the rapid advancements in AI technology.

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An extremely convincing litmus test of the potential held by wearable AI is the fact that it is gaining significant traction in the impenetrable healthcare industry. According to the Brookings Institution, this potential stems from wearable AI devices' innate ability to record medical data in a substantially reliable manner than their non-AI predecessors, allowing medical professionals to use the data to diagnose & treat diseases in their early stages. Despite being at a somewhat nascent stage, wearable AI market seems to have garnered massive mainstream popularity.

The Major Key Players in The Wearable AI Market Are As Follows:
Apple, Facebook, Fitbit, Fossil, Garmin, Google, HTC, Huawei Technologies, Jabra, Lenovo, LG Electronics, Microsoft, Panasonic, Samsung Electronics, Sony, Starkey Hearing Technologies, Xiaomi

Not only the healthcare industry, but the sports industry is also racing to upgrade its offerings in the form of smart wearables. For instance, wearable technology is being developed that can warn footballers about the possibility of a concussion in case they are hit too hard or help golfers fine tune their swing. Smart Caddie developed by Game Your Game is an AI that acts as a personal caddie and helps golfers make data driven decisions with every shot they hit as it not only understands the player's tendencies but also adjusts for weather and elevation while understanding the course and making suggestions.

Smartwatches becoming more popular: Smartwatches are increasingly coming to eclipse smartphones thanks to the rising trends of AI and 5G. The smartphone has become a central hub for recording or displaying data collected from various wearable devices that a user might be wearing all over the body. It has been estimated that over 2 billion people had smartphones in 2016, and the figure is predicted to increase to 2.5 billion by 2019.

Exponential growth has been recorded for both mobile and ai wearable devices over the past decade, in spite of the second dot-com bubble that disrupted social media share values and the Global Financial Crisis. In fact, intelligent wearables are encouraging people to workout and by providing continuous data, are helping to raise health awareness. The smartphone fad, undoubtedly, has helped foster wearable AI market growth.

Increasing disposable income: As numerous new entrants are rapidly entering wearable AI market, established tech companies like Apple, Samsung, Microsoft, Google and others are also expanding into the exceptionally profitable wearable AI industry space. Thus market growth has come to be characterized by intense competition, which is making wearable technologies much more affordable. Apart from this though, sales of intelligent wearables have also been peaking lately on account of the rising disposable incomes of consumers worldwide.

While the economy is rapidly stabilizing and even thriving in developed nations, the rising middle class in emerging economies has been pegged as aggressive consumers, spending a considerable portion of their incomes on latest technologies and in turn dictating wearable technology future trends. The impact of the same is no doubt, rather visible in the latest wearable AI market forecasts.

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As consumers are increasingly adopting smart devices to be worn on the body, wearable AI market growth is bound to witness an added impetus over the coming years. Indeed, prominent wearable AI industry forecasts claim the market to register a double-digit CAGR over 2019-2025. As the competition stiffens, wearable AI industry players are diversifying their approach in the development of devices which has led to the increasing penetration of wearable AI devices in security, gaming and even fashion. Characterized by extensive growth prospects, market share is expected to surpass $180 billion by 2025.

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