The electronic devices which are manufactured to be worn on a consumerís body with intelligent operation performing capabilities are termed wearable Artificial Intelligence. Wearable Artificial Intelligence consists of intelligent devices such as smartwatches, smart ear wears, smart eyewear, smart gloves, and others. Wearable Artificial Intelligence finds application in consumer electronics, healthcare, automotive, military & defense, media & entertainment, and others. The Healthcare sector became an important base for artificial intelligence products as it directly collects data from the body to the health parameters which indicates the vital sign of the body.This growth is primarily driven by Rising Demand for the Artificial Intelligence-Driven Technology and Wearables and The increasing popularity of Automation Solutions.
Globally, a noticeable market trend is evident Innovation in Different Wearable Devices like Sunglasses and Earphones integrated with Artificial Intelligence. The Electronic Equipment & Instruments sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Apple (United States), Samsung (South Korea), Google (United States), Microsoft (United States), Sony (Japan), Garmin (United States), Fitbit (United States), Huawei (China), Amazon (United States), IBM (United States) and Oracle (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
IBM, a leader in artificial intelligence and software solutions, partnered with HeartBit, a Hungarian start-up. This partnership led to the launch of a new device which is a wearable electrocardiogram (ECG). The HeartBit wearable ECG monitor generates 10,000 data points per second and the company has teamed up with IBM for leveraging their Cloud.
In 2021, AI/ML Innovations Inc., a company advancing Artificial Intelligence/Machine Learning technologies with Health Gauge, launched The Phoenix, the newest, leading-edge version of its wearable health monitoring solution. The Phoenix provides health and fitness tracking services with help of its wearable health monitors (smartwatch), including the ability to monitor blood pressure, heart rate, heart rate variability, ECG, PPG, step count, sleep patterns.
- Rising Demand for the Artificial Intelligence-Driven Technology and Wearables
- The increasing popularity of Automation Solutions
- Innovation in Different Wearable Devices like Sunglasses and Earphones integrated with Artificial Intelligence
- The threat of Data Breach and Malware Attacks
- High Costs involved in Manufacturing and Employing Wearable Artificial Intelligence
Rising Demand for the Wearable Artificial Intelligence in Sports and Fitness Industry for Tracking the Track Record and Fitness
Rapidly Developing Technology Variables and Less Awareness about Wearable Artificial Intelligence as a Product
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Wearable Artificial Intelligence Study Sheds Light on
The Wearable Artificial Intelligence Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Wearable Artificial Intelligence industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Wearable Artificial Intelligence industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Wearable Artificial Intelligence Market?
The Wearable Artificial Intelligence market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in Wearable Artificial Intelligence Market?
Top performing companies in the Global Wearable Artificial Intelligence market are Apple (United States), Samsung (South Korea), Google (United States), Microsoft (United States), Sony (Japan), Garmin (United States), Fitbit (United States), Huawei (China), Amazon (United States), IBM (United States) and Oracle (United States), to name a few.
3. Which region dominated the worldwide market for Wearable Artificial Intelligence in 2020?
North America is dominating the Wearable Artificial Intelligence Market.