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Wearable AI Market Report 2024-2033 | Size, Trends, Share And Insights
Wearable AI Market Report
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According to The Business Research Company's, The wearable ai market size has grown exponentially in recent years. It will grow from $32.12 billion in 2023 to $41.92 billion in 2024 at a compound annual growth rate (CAGR) of 30.5%. The growth in the historic period can be attributed to introduction of smartwatches, growth in fitness tracking devices, rise in health and wellness awareness, increase in mobile connectivity, development of low-power processors.
The wearable ai market size is expected to see exponential growth in the next few years. It will grow to $120.7 billion in 2028 at a compound annual growth rate (CAGR) of 30.3%. The growth in the forecast period can be attributed to surge in consumer interest in wearables, integration with smartphones, expansion of healthcare applications, rise in remote patient monitoring, integration of biometric authentication, growth in smart clothing solutions, development of wearables for elderly care. Major trends in the forecast period include advances in flexible display technologies, advancements in sensor technologies, technological advancements in miniaturization, integration with augmented reality (ar), ai-powered wearable assistants, integration of 5g connectivity.
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Market Drivers and Trends:
The demand for advanced wearable devices is expected to propel the growth of the wearable AI market going forward. Wearable devices are electronic devices used in the human body that communicate with other devices to transmit or gather data. Wearable devices play an essential role in driving the growth of the wearable AI market by encouraging user adoption, generating massive amounts of data for AI algorithms, and enabling seamless integration of AI-driven features and functionalities, resulting in increased demand and market opportunities for wearable AI technologies. For instance, according to the Italian Watch Spotter, an Italy-based community of luxury watch fans, 15.8 million watches were exported in 2022, an increase from 15.7 million in 2021. Therefore, the demand for advanced wearable devices drives the wearable AI market.
Technological advancement is a key trend gaining popularity in the wearable AI market. Major companies operating in the wearable AI market are adopting new technologies to sustain their position in the market. For instance, in March 2023, Apollo Neuroscience Inc., a US-based provider of healthcare solutions and wellness products, launched Apollo Labs, the first AI-driven wearable technology that reacts to changes in the body rather than just tracking them. The Apollo wearable transmits Apollo Vibes, low-frequency sound waves that are scarcely noticeable and restore the nervous system's balance while enhancing sleep, boosting cardiovascular measures, and lowering stress and anxiety levels.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Amazon Inc., Apple Inc., Google Inc., Samsung Electronics Co. Ltd., Microsoft Corporation, Misfit Inc., Huawei Technologies Co. Ltd., Sony Corporation, LG Electronics Inc., International Business Machines Corporation, Qualcomm Technologies Inc., Oracle Corporation, Xiaomi Inc., Bose Corporation, Nokia Corporation, Asus, Motorola Solutions Inc., Seiko Epson Corporation, Garmin Ltd., Fossil Group Inc., Razer Inc., Fitbit Inc., TAG Heuer S.A., Zepp Health Corporation, TomTom International B.V., Polar Electro Oy, Suunto Oy, Vuzix Corporation, Aliph Brands LLC, Zephyr Technology Corporation
Wearable AI Market 2024 Key Insights:
• The wearable ai market size is expected to see exponential growth in the next few years. It will grow to $120.7 billion in 2028 at a compound annual growth rate (CAGR) of 30.3%.
• Surging Demand For Advanced Wearable Devices To Drive Market Growth
• Technological Advancements Driving Innovation In Wearable AI Market
• North America was the largest region in the wearable AI market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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