Technology

Wearable AI Market to Reach $200.8 Billion, Globally, by 2032 at 20.5% CAGR: Allied Market Research

Published

on

The wearable AI market is growing rapidly due to rise in consumer demand for health and fitness monitoring, advancements in AI technology, and rising awareness of personal health.

Wilmington, Del., Aug. 6, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Wearable AI Market by Type (Smartwatch, Smart eyewear, Smart earwear and Others), Operation (On-device AI and Cloud-based AI), Application (Consumer electronics, Healthcare, Automotive, Military and Defense, Media and entertainment and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032″. According to the report, the wearable ai market was valued at $38.1 billion in 2023, and is estimated to reach $200.8 billion by 2032, growing at a CAGR of 20.5% from 2024 to 2032.

Download Research Report Sample & TOC:
https://www.alliedmarketresearch.com/request-sample/A06044 

(We are providing report as per your research requirement, including the Latest Industry Insight’s Evolution, and Potential)

130-Tables61-Charts259-Pages

Prime determinants of growth

The rising consumer demand for health and fitness tracking devices has spurred innovation and adoption. Wearable AI devices offer real-time monitoring of vital signs, activity levels, and sleep patterns, providing valuable insights for personal health management. Moreover, advancements in AI and machine learning technologies have enhanced the capabilities of wearable devices, enabling more accurate data analysis and personalized user experiences. These technologies allow wearables to provide actionable recommendations and predictive insights, thereby increasing their value and utility.

Also, the increasing integration of wearables with smartphones and other smart devices has improved user convenience and data accessibility. Seamless connectivity enables users to monitor and manage their health and fitness data through comprehensive apps and platforms. Additionally, growing awareness of preventive healthcare and the importance of early diagnosis has led to greater adoption of wearable AI in healthcare settings. Medical-grade wearables are being used for remote patient monitoring, chronic disease management, and telehealth services, expanding their market potential. Moreover, the expanding applications of wearable AI in sports, fitness, and everyday activities have broadened their appeal. Athletes and fitness enthusiasts utilize these devices for performance tracking and improvement, while general consumers benefit from enhanced lifestyle management. Collectively, these factors are propelling the wearable AI market forward.

Report coverage & details:

Report Coverage

Details

Forecast Period

2024–2032

Base Year

2023

Market Size in 2023

$38.1 billion

Market Size in 2032

$200.8 billion

CAGR

20.5 %

No. of Pages in Report

250

Segments Covered

Type, Application, Operation, and Region

Drivers

Expansion in Healthcare ApplicationsBroadening Applications in Sports and FitnessAdvancements in AI and Machine Learning

Opportunities

Advancement in Battery Life and Energy EfficiencyGrowth in Wearable AI for Mental Health Monitoring

Restraint

High Cost of Wearable AI DevicesLimited Consumer Awareness and Adoption in Some Regions

The smartwatches segment dominated the market in 2023

By type, the smartwatches segment held the highest market share in 2023 due to their multifunctionality, integrating health monitoring, fitness tracking, communication, and entertainment. Advanced features like heart rate monitoring, GPS, and seamless smartphone integration drive high consumer demand and widespread adoption.

The On-device AI segment dominated the market in 2023

By operation, the on-device AI segment held the highest market share in 2023 and expected to show significant growth rate during the forecast period due to its advantages in real-time data processing, enhanced privacy, and reduced dependency on internet connectivity. Improved AI chip efficiency and capabilities in wearables drive its adoption for seamless, immediate user experiences.

Get Customized Reports with your Requirements: https://www.alliedmarketresearch.com/request-for-customization/A06044 

Consumer Electronics segment dominated the market in 2023

By application, the consumer electronics segment held the highest market share in 2023 and is expected to continue its dominance during the forecast period due to high demand for smart devices like smartwatches and earwear, advancements in AI technology, and growing consumer preference for integrated, multifunctional gadgets enhancing daily life and connectivity.

North America region leading throughout forecast period

North America is expected to continue its dominance over the forecast period due to a robust technological infrastructure, significant investments in AI research and development, high adoption rates of advanced consumer electronics, and strong presence of key market players driving innovation and market growth in the region.

Key Players:

TOMTOM INTERNATIONAL B.V.Amazon.com, Inc.Motorola Mobility LLC (Lenovo)SAMSUNG ELECTRONICS CO. LTD.Garmin Ltd.International Business Machines Corporation (IBM)Fitbit, Inc.Google Inc. (Alphabet Inc.)Huawei Technologies Co. Ltd.SONY CORPORATION

The report provides a detailed analysis of these key players in the global wearable AI market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Inquiry before Buying:
https://www.alliedmarketresearch.com/purchase-enquiry/A06044 

Recent Development

In March 2023, Meta introduced Meta Quest 3. It has features such as higher resolution, stronger performance, breakthrough Meta Reality and technology and slimmer, more comfortable form factor.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Wearable AI market forecast from 2024 to 2032 to identify the prevailing wearable ai market opportunities.The market research is offered along with information related to wearable AI growth drivers, restraints, and opportunities.Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.In-depth analysis of the wearable ai market segmentation assists to determine the prevailing market opportunities.Wearable AI market size by country in each region are mapped according to their revenue contribution to the global market.Market player 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 wearable ai market trends, key players, market segments, Wearable AI market share by companies, application areas, wearable AI market value, smart wearables, activity tracking, wearable AI market insights, and wearable AI market growth strategies.

Procure Complete Report (259 Pages PDF with Insights, Charts, Tables, and Figures) @ https://www.alliedmarketresearch.com/checkout-final/wearable-ai-market

Wearable AI Market Key Segments:

By Type

SmartwatchSmart eyewearSmart earwearOthers

By Operation

On-device AICloud-based AI

By Application

Consumer electronicsHealthcareAutomotiveMilitary and DefenseMedia and entertainmentOthers

By Region

North America (U.S., Canada, Mexico)Europe (France, Germany, Italy, UK, Rest of Europe)Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)LAMEA (Latin America, Middle East, Africa)

Access AVENUE – A Subscription-Based Library (Premium On-Demand, Subscription-Based Pricing Model) @ https://www.alliedmarketresearch.com/library-access 

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world’s largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request For 14 Days Free Trial of Before Buying: https://www.alliedmarketresearch.com/avenueTrial 

Trending Reports in Semiconductor and Electronics Industry:

Wearable Payment Devices Market valued at $47.1 billion in 2021, and is projected to reach $158.8 billion by 2031.

Wearable fitness trackers market valued at $38.68 billion in 2020, and is projected to reach $124.32 billion by 2028.

Industrial wearables market valued at $3.79 billion in 2019, and is expected to reach $8.40 billion by 2027

Edge AI processor market valued at $2.5 billion in 2021, and is projected to reach $9.6 billion by 2030

Artificial Intelligence (AI) in Computer Vision Market valued at $9.18 billion in 2020, and is expected to reach $207.09 billion by 2030

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

 

View original content:https://www.prnewswire.com/news-releases/wearable-ai-market-to-reach-200-8-billion-globally-by-2032-at-20-5-cagr-allied-market-research-302215109.html

SOURCE Allied Market Research

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending

Exit mobile version