Wearable AI Market to Reach $69.51 bn, Globally, by 2026 at 26.5% CAGR | Amazon.com, Inc., Fitbit, Inc., Garmin Ltd., Google Inc., Huawei Technologies Co. Ltd

Allied Market Research published a report, titled, "Wearable AI Market by Type (Smart Watch, Smart Glasses, Smart Earwear, Smart Glove, and Others), and Application (Consumer Electronics, Healthcare, Automotive, Military and Defense, Media and Entertainment, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global wearable AI market generated $10.63 billion in 2019 and is expected to reach $69.51 billion by 2026, witnessing a CAGR of 26.5% from 2019 to 2026.

Prime determinants of growth

Increased penetration of AI in the healthcare industry, growth in adoption of AI assistants, and advancement of IoT and integration of wireless technology drive the global wearable AI market. However, short life of smart wearables restrains the market growth. On the other hand, AI assistance for animals and advancement in personal computing offers new opportunities in coming years.

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Covid-19 Impact on the Global Wearable AI Market:

Wearable AI Market Research Report provides an overview of the industry based on key parameters such as market size, sales, sales analysis and key drivers. The market size of the market is expected to grow on a large scale during the forecast period (2020-2027). This report covers the impact of the latest COVID-19 on the market. The coronavirus pandemic (COVID-19) has affected all aspects of life around the world. This has changed some of the market situation. The main purpose of the research report is to provide users with a broad view of the market. Initial and future assessments of rapidly.

COVID-19 Scenario:

• Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on research and development of new products.

• However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of products in certain locations.

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The consumer electronics segment to maintain its lead position throughout the forecast period
Based on lighting technology, the consumer electronics segment contributed to nearly one-third of the total share of the global wearable AI market in 2018, and is estimated to maintain its lead position throughout the forecast period. This is due to various product launch, development and other such strategies. However, the military and defense segment is expected to witness the highest CAGR of 30.1% from 2019 to 2026. Military and defense across the world is adopting cordless and intelligent technology at a fast pace, which increases its market demands.

The smart watch segment to continue its dominant position in terms of revenue by 2026
Based on type, the smart watch segment held the highest market share of the global wearable AI market, contributing to more than one-fourth of the total market share in 2018, and is estimated to continue its dominant position in terms of revenue by 2026. This is due to due to its market demand catalyzed by high competition. However, the smart glove segment is expected to register the fastest CAGR of 29.1% from 2019 to 2026.

North America to rule the roost

Based on region, North America accounted for the highest share on the basis of revenue, contributing to more than one-third of the global wearable AI market in 2018, and is expected to continue its highest share during the forecast period. North America is one of the developed regions with people having high disposable income, which influences the market demand. On the other hand, the region across Asia Pacific is projected to register the fastest CAGR of 31.1% from 2019 to 2026Asia Pacific is a developing region which accommodates a large part of the world population. This factor increases the market demand.

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Leading market players

Amazon.com, Inc.
Fitbit, Inc.
Garmin Ltd.
Google Inc
TomTom International B.V.
Samsung Electronics Co. Ltd.
Sony Corporation
Huawei Technologies Co. Ltd.
International Business Management Corporation (IBM)
Motorola Mobility LLC

Key Benefits from this Research Report:

• This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global Wearable AI Market from 2020 to 2027 to identify the prevailing market opportunities.

• The key countries in all the major regions are mapped based on their market share.

• Porter’s five forces analysis highlights the potency of the buyers and the suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.

• In-depth analysis of the Wearable AI Market segmentation assists in determining the prevailing market opportunities.

• Major countries in each region are mapped according to their revenue contribution to the global Wearable AI Market. Players positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

• The report includes the analysis of the regional as well as global market, key players, market segments, application areas, and growth strategies.

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Key Market Segments:

By Type

Smart Watch
Smart Glasses
Smart Earwear
Smart Glove
Others

By Application

Consumer electronics
Healthcare
Automotive
Military and Defense
Media and Entertainment
Others

By Region

North America
U.S.
Mexico
Canada

Europe

UK
Germany
France
Italy
Rest of Europe

Asia-Pacific

China
Japan
India
South Korea
Rest of Asia-Pacific

LAMEA

Latin America
Middle East
Africa

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