Global Wearable AI Market Introduction:Global Wearable AI Market to value over USD 44.5 Billion by 2026 end and register a CAGR of over 28.7% during the forecast period 2019 to 2026.
The emergence of the integration of wireless technology and IoT in various devices used on a daily basis is one of the important reasons for the global wearable Ai market to thrive. A variety of wearables like eyewear, shoes, watches are being integrated with advanced AI technology in order to track health status, location status, weather status etc. Thus due to a rise in demand for such smart devices has opened numerous opportunities for the market to grow.
Global Wearable AI Market Overview:Product-wise, the market is bifurcated into smartwatch, eyewear & ear wear. Eyewear segment has potential of witnessing a significant market growth owing to a meteoric rise in the adoption of AR/VR technology which opens up a lot of opportunities for this market segment to expand globally.
Based on the type of operation, the market is categorised as cloud-based AI and on-device AI. Samsung has announced a new network processor (NPU) technology that will make on-device AI more energy efficient and more compact with the use of quantization interval learning that can retain the 32-bit network accuracy by creating 4-bit neural networks and such advancements will prove helpful for the on-device AI market to grow significantly.
Depending on the type of component used, the market is bifurcated into sensors, processor and connectivity IC. The processor segment has potential for a substantial market growth owing to advancements in VLSI technology.
Application-wise, the market is categorised as consumer electronics, healthcare and enterprise. The healthcare sector is using medical devices integrated with advanced AI technology for health monitoring which increases the chances of this segment to grow substantially during the forecast period.
Global Wearable AI Market Regional Insight:
The market is regionally categorised as North America, Europe, Asia Pacific and Latin America. North America dominates this market with a 30% market share due to high spending capability of consumers in the region. Therefore, companies like Apple and Samsung launch their latest products in the North American region so as to get good sales and cater their loyal consumer base.
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Global Wearable AI Market Segmentation:
1. By Region• North America
• Asia Pacific
• Latin America
2. By Product• Smartwatch
• Eye Wear
• Ear Wear
3. By Operation• Cloud-Based AI
• On-Device AI
4. By Component• Sensors
• Connectivity IC
5. By Application• Consumer Electronics
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Competitive Landscape:• Apple
FutureWise Key Takeaways:• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth
Objectives of the Study:
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific and Latin America
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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