Wearable AI Devices Market Latest, Estimates and Forecast, By Application, segments 2022-2030 | (CAGR) of 27%

New York , United States- Report Ocean published the latest research report on the Wearable AI Devices market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Wearable AI Devices market study demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, key regions, and growth rate.

The global wearable AI devices market anticipates reaching US$ 145 billion by 2030 from $10.5 billion in 2019. The market forecasts to grow at a compound annual growth rate (CAGR) of 27% during the forecast period from 2021-2030.

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The AI-enabled electronic devices that are used to be worn on the body are considered wearable AI devices. These smart devices perform intelligent operations, such as tracking information, linking with other devices, etc. Few examples of wearable AI devices are smart eyewear, smartwatches, smart ear wears, and smart gloves.

Factors Influencing

The growth of the global wearable AI devices market is expected to be influenced by several factors:

The applications of AI-enabled wearables are expected to bolster the growth of the global wearable AI devices market. AI assistance applications have significantly gained popularity in several sectors, including residential, industrial, and commercial. Therefore, such benefits are forecast to increase the adoption of devices during the forecast period.

The growing use of these devices in healthcare, automotive, military & defense, media & entertainment would significantly surge the growth of the overall market. Various prominent players, such as Samsung, Apple, and Sony, have been working on the advancements of these devices. Apart from that, the market is witnessing a rapid adoption of AI-enabled wearable devices in healthcare. Thus, it would fuel the adoption of wearable AI devices during the analysis period.

The advent of miniaturization of computational devices has bolstered the advancements in wireless wearable devices. Hearables or wireless in-ear computational earpieces are a few of the rapidly advancing wearable AI devices. Apple recently launched the Apple watch with watchOS5. The watch introduced some innovative features, such as Wi-Fi, auto workout detection, and phone connectivity. Apart from that, IBM and HeartBit partnered to introduce intelligence into wearable devices. Thus, such innovations and investments would contribute to the rapid growth of the overall market during the forecast period.

Moreover, the growing demand for further improvements forecasts promising opportunities for the prominent market players during the analysis period.

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COVID-19 Impact Analysis

The COVID-19 pandemic severely impacted the growth of the global wearable AI devices market. The market witnessed a significant decline in the adoption of devices. Moreover, the disruption in the supply chain also halted the entire manufacturing activity. As a result, it impacted the growth of the global wearable AI market during the COVID-19 pandemic.

Geography Analysis

Geographically, North America is expected to contribute with the largest share in the global wearable AI devices market. The regional market is predicted to grow significantly because of the presence of prominent companies and increasing investments for technological advancements. In addition, Asia-Pacific is anticipated to witness rapid growth in the adoption of AI-enabled wearable devices, majorly in India and China.

Market Segmentation

By Application

Consumer electronics
Healthcare
Automotive
Military and Defense
Media and Entertainment
Others
By Type

Smart Watch
Smart Glasses
Smart Earwear
Smart Glove
Others

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Based on region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Competitors in the Market

Apple Inc.
Samsung Electronics Co. Ltd.
Fitbit Inc.
Xiaomi Corporation
Sony Corporation
BRAGI GmbH
Garmin Ltd.
Huawei Investment & Holding Co. Ltd.
Fossil Group Inc.
Google LLC
Microsoft Corporation
Other prominent players
What is the goal of the report?

The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
During the forecast period, the report analyzes the growth rate, market size, and market valuation.
The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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