Innovation Awards 2022 is the market-leading awards program for celebrating ecosystem innovation and excellence across the technology sector in ASEAN.
- 15 May 2019 17:50
Wearable Artificial Intelligence (AI) Market Value Around USD 185 billion by 2026
The key drivers for development will be increased demand for AI assistants, increased operations in the Healthcare industry, the emergence of IoT and the integration of wireless technologies and the growth of wearable component technology.
As the majority of intelligent wearable equipment lacks basic safety mechanisms, an increasing concern for data security in smarts is preventing the growth of the wearable artificial intelligent market. Moreover, the cost of production is high and the consumption of batteries is limited.
In the forecast period, the earwear market is projected to grow at more than 43 percent. The increasing integration of AI-based voices like Siri and Alexa into the product range by large smartphone manufacturers drives the wearable artificial intelligence (AI) market. The growing popularity of AI-based voice helpers has led to firms like Bragi starting their own intelligent earwears using AI-based voice support to help users conduct different activity using voice commands. Most earwears have biosensors that track the heartbeats of the user and adapt different user experiences.
In the forecast period, the gaming market is expected to register a CAGR of over 35 %. The advances made in technology in gaming software and hardware consoles based on AR / VR are responsible for that. In AR / VR immersive environments integration of advanced video and audio graphics is becoming rapidly becoming more popular in the gaming industry. In order to give gamers more realistic experience, intelligent wearable device manufacturers present in the countryside include different new technology products such as interactive graphics and 3D effects. The high cost of game components and the lack of standout contents prevent the use of wearable AI equipment in the gaming environment.
• A CAGR of more than 38 percent is projected to expand the head-assembly display segment on the wearable IA market.
• With an industry share of more than 85% in 2018, the smart and fitness band market dominated the wearable AI market.
• In the planned timeframe, the company application is expected to grow in the wearable AI market at CAGR by over 50 percent.
• Asia Pacific wearable AI will grow more than 50% in a CAGR from 2019 to 2026.
• Europe accounted for over 25% of the wearable AI market in 2018.
• The key players of the market are Facebook: Apple, Samsung, Garmin, Fossil, Microsoft, HTC, Huawei, Bragi, Jabra, ANTVR, Huami and Google. Apple, Samsung. Large players like Huawei, Samsung, Facebook Apple, Fitbit and Microsoft lead the wearable AI market.
Global Wearable Artificial Intelligence (AI) Market, by Product Fitness Band & Smartwatch Head Mounted Display Earwear
Global Wearable Artificial Intelligence (AI) Market, by Application Consumer Electronics Enterprise Gaming
Global Wearable Artificial Intelligence (AI) Market, by Geography North America Europe Asia-Pacific Latin America Middle East and Africa (MEA)