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 observed growth during the historical period can be attributed to the introduction of smartwatches, the expansion of fitness tracking devices, an increase in health and wellness awareness, a rise in mobile connectivity, and the 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 anticipated growth in the forecast period can be attributed to a surge in consumer interest in wearables, increased integration with smartphones, the expansion of healthcare applications, a rise in remote patient monitoring, the integration of biometric authentication, growth in smart clothing solutions, and the development of wearables for elderly care. Major trends expected in the forecast period include advances in flexible display technologies, advancements in sensor technologies, technological innovations in miniaturization, integration with augmented reality (AR), AI-powered wearable assistants, and the integration of 5G connectivity.
The wearable AI market is poised for growth, driven by the increasing demand for advanced wearable devices. Wearable devices, electronic gadgets integrated into the human body that exchange data with other devices, are pivotal in fostering wearable AI market expansion. They stimulate user adoption, generate substantial data for AI algorithms, and facilitate the seamless integration of AI-driven features, creating heightened demand and market opportunities for wearable AI technologies. For example, Italian Watch Spotter reported an increase in watch exports from 15.7 million in 2021 to 15.8 million in 2022, exemplifying the escalating demand for advanced wearable devices propelling the wearable AI market.
The expanding landscape of telehealth and telemedicine is expected to be a driving force for the growth of the wearable AI market. Telehealth involves using telecommunications technology to provide diverse healthcare services remotely, while telemedicine specifically entails remote clinical consultations and healthcare delivery. Wearable AI contributes to these sectors by continuously monitoring vital signs and health metrics, supplying real-time data to healthcare professionals for remote patient monitoring. This technology enhances proactive healthcare management, facilitates early issue detection, and supports timely interventions without physical presence, thereby enhancing the efficiency and accessibility of healthcare services. In 2021, 37.0% of adults utilized telemedicine, as reported by the Centers for Disease Control and Prevention, showcasing the significant impact of the increasing expansion of telehealth and telemedicine on the growth of the wearable AI market.
A prominent trend in the wearable AI market is technological advancement. Leading companies in the market are adopting innovative technologies to maintain their market positions. For instance, Apollo Neuroscience Inc. launched Apollo Labs in March 2023, introducing the first AI-driven wearable technology that responds to changes in the body rather than merely tracking them. The Apollo wearable transmits low-frequency sound waves, known as Apollo Vibes, which are imperceptible and contribute to restoring the balance of the nervous system. This technology enhances sleep, improves cardiovascular measures, and reduces stress and anxiety levels.
Innovative products, such as wearable devices with gesture and voice-based control, are being developed by major companies in the wearable AI market to gain a competitive edge. Gesture and voice-based controls allow users to interact with devices through physical movements and spoken commands, respectively. For example, Humane launched the Humane Pin in November 2023 - an AI-powered wearable device that operates through voice commands, gestures, and a built-in projector. It connects to AI models through the company's proprietary software, AI Mic, and aims to revolutionize user interaction with AI, potentially replacing traditional smartphones.
In January 2021, Google LLC acquired Fitbit Inc. for $2.1 billion. This strategic acquisition positions Google to enhance the next generation of wearable devices, making them better and more affordable. Fitbit Inc., a health and fitness solutions company, offers wearable AI devices and small wireless sensors.
Major companies operating in the wearable AI market report are 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.
North America was the largest region in the wearable AI market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the wearable AI market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the wearable AI market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The primary types of wearable AI include smart watches, smart eyewear, smart earwear, and others. A smartwatch is a wearable computer that closely resembles a traditional watch or another type of timepiece. Its components include processors, connectivity integrated circuits (ICs), and sensors used for on-device AI operations as well as cloud-based AI operations. Wearable AI devices find applications in various industries, including consumer electronics, healthcare, automotive, military and defense, media and entertainment, and others.
The wearable AI research report is one of a series of new reports that provides wearable AI market statistics, including the wearable AI industry's global market size, regional shares, competitors with wearable AI market share, detailed wearable AI market segments, market trends and opportunities, and any further data you may need to thrive in the wearable AI industry. This wearable AI market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The wearable AI market consists of revenues earned by entities through virtual personal assistants, real-time language translation, and personalized health and fitness coaching. The market value includes the value of related goods sold by the service provider or included within the service offering. The wearable AI market also includes sales of fitness trackers, smart clothing, and smart jewelry. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (jewelry downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
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 anticipated growth in the forecast period can be attributed to a surge in consumer interest in wearables, increased integration with smartphones, the expansion of healthcare applications, a rise in remote patient monitoring, the integration of biometric authentication, growth in smart clothing solutions, and the development of wearables for elderly care. Major trends expected in the forecast period include advances in flexible display technologies, advancements in sensor technologies, technological innovations in miniaturization, integration with augmented reality (AR), AI-powered wearable assistants, and the integration of 5G connectivity.
The wearable AI market is poised for growth, driven by the increasing demand for advanced wearable devices. Wearable devices, electronic gadgets integrated into the human body that exchange data with other devices, are pivotal in fostering wearable AI market expansion. They stimulate user adoption, generate substantial data for AI algorithms, and facilitate the seamless integration of AI-driven features, creating heightened demand and market opportunities for wearable AI technologies. For example, Italian Watch Spotter reported an increase in watch exports from 15.7 million in 2021 to 15.8 million in 2022, exemplifying the escalating demand for advanced wearable devices propelling the wearable AI market.
The expanding landscape of telehealth and telemedicine is expected to be a driving force for the growth of the wearable AI market. Telehealth involves using telecommunications technology to provide diverse healthcare services remotely, while telemedicine specifically entails remote clinical consultations and healthcare delivery. Wearable AI contributes to these sectors by continuously monitoring vital signs and health metrics, supplying real-time data to healthcare professionals for remote patient monitoring. This technology enhances proactive healthcare management, facilitates early issue detection, and supports timely interventions without physical presence, thereby enhancing the efficiency and accessibility of healthcare services. In 2021, 37.0% of adults utilized telemedicine, as reported by the Centers for Disease Control and Prevention, showcasing the significant impact of the increasing expansion of telehealth and telemedicine on the growth of the wearable AI market.
A prominent trend in the wearable AI market is technological advancement. Leading companies in the market are adopting innovative technologies to maintain their market positions. For instance, Apollo Neuroscience Inc. launched Apollo Labs in March 2023, introducing the first AI-driven wearable technology that responds to changes in the body rather than merely tracking them. The Apollo wearable transmits low-frequency sound waves, known as Apollo Vibes, which are imperceptible and contribute to restoring the balance of the nervous system. This technology enhances sleep, improves cardiovascular measures, and reduces stress and anxiety levels.
Innovative products, such as wearable devices with gesture and voice-based control, are being developed by major companies in the wearable AI market to gain a competitive edge. Gesture and voice-based controls allow users to interact with devices through physical movements and spoken commands, respectively. For example, Humane launched the Humane Pin in November 2023 - an AI-powered wearable device that operates through voice commands, gestures, and a built-in projector. It connects to AI models through the company's proprietary software, AI Mic, and aims to revolutionize user interaction with AI, potentially replacing traditional smartphones.
In January 2021, Google LLC acquired Fitbit Inc. for $2.1 billion. This strategic acquisition positions Google to enhance the next generation of wearable devices, making them better and more affordable. Fitbit Inc., a health and fitness solutions company, offers wearable AI devices and small wireless sensors.
Major companies operating in the wearable AI market report are 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.
North America was the largest region in the wearable AI market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the wearable AI market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the wearable AI market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The primary types of wearable AI include smart watches, smart eyewear, smart earwear, and others. A smartwatch is a wearable computer that closely resembles a traditional watch or another type of timepiece. Its components include processors, connectivity integrated circuits (ICs), and sensors used for on-device AI operations as well as cloud-based AI operations. Wearable AI devices find applications in various industries, including consumer electronics, healthcare, automotive, military and defense, media and entertainment, and others.
The wearable AI research report is one of a series of new reports that provides wearable AI market statistics, including the wearable AI industry's global market size, regional shares, competitors with wearable AI market share, detailed wearable AI market segments, market trends and opportunities, and any further data you may need to thrive in the wearable AI industry. This wearable AI market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The wearable AI market consists of revenues earned by entities through virtual personal assistants, real-time language translation, and personalized health and fitness coaching. The market value includes the value of related goods sold by the service provider or included within the service offering. The wearable AI market also includes sales of fitness trackers, smart clothing, and smart jewelry. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (jewelry downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Wearable AI Market Characteristics3. Wearable AI Market Trends and Strategies32. Global Wearable AI Market Competitive Benchmarking33. Global Wearable AI Market Competitive Dashboard34. Key Mergers and Acquisitions in the Wearable AI Market
4. Wearable AI Market - Macro Economic Scenario
5. Global Wearable AI Market Size and Growth
6. Wearable AI Market Segmentation
7. Wearable AI Market Regional and Country Analysis
8. Asia-Pacific Wearable AI Market
9. China Wearable AI Market
10. India Wearable AI Market
11. Japan Wearable AI Market
12. Australia Wearable AI Market
13. Indonesia Wearable AI Market
14. South Korea Wearable AI Market
15. Western Europe Wearable AI Market
16. UK Wearable AI Market
17. Germany Wearable AI Market
18. France Wearable AI Market
19. Italy Wearable AI Market
20. Spain Wearable AI Market
21. Eastern Europe Wearable AI Market
22. Russia Wearable AI Market
23. North America Wearable AI Market
24. USA Wearable AI Market
25. Canada Wearable AI Market
26. South America Wearable AI Market
27. Brazil Wearable AI Market
28. Middle East Wearable AI Market
29. Africa Wearable AI Market
30. Wearable AI Market Competitive Landscape and Company Profiles
31. Wearable AI Market Other Major and Innovative Companies
35. Wearable AI Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Wearable AI Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on wearable ai market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for wearable ai? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Type: Smart Watch; Smart Eyewear; Smart Earwear; Other Types
2) By Component: Processors; Connectivity IC (Integrated Circuit); Sensors
3) By Operation: On-Device AI (Artificial Intelligence); Cloud-based AI (Artificial Intelligence)
4) By Application: Consumer Electronics; Healthcare; Automotive; Military and Defense; Media and Entertainment; Other Applications
Key Companies Mentioned: Amazon Inc.; Apple Inc.; Google Inc.; Samsung Electronics Co. Ltd.; Microsoft Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- 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
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | February 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 41.92 Billion |
Forecasted Market Value ( USD | $ 120.7 Billion |
Compound Annual Growth Rate | 30.3% |
Regions Covered | Global |
No. of Companies Mentioned | 30 |