Global Wearable AI Devices Market, Forecast to 2024 - Emergence of AR/VR Based Head-Mounted Displays (HMD) Presents Opportunities
DUBLIN, Feb. 3, 2020 /PRNewswire/ -- The "Wearable AI Devices Market Research Report: By Product, Component, End - User, Geographical Outlook - Global Industry Size, Share Analysis and Trends Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
In 2018, the wearable AI devices market generated a revenue of $11,182.8 million and is predicted to grow at a 29% CAGR in the near future.
One of the major reasons for the popularity of these devices is the growing concern among the consumers regarding their health. People nowadays are becoming more and more concerned about their lifestyles and are trying to incorporate healthy habits into their daily lives. AI-enabled wearable devices are of a great help when it comes to keeping track of what a person eats and how much he/she is eating. Moreover, based on this data, AI-enabled wearable devices are also capable of suggesting changes that need to be made for improving a person's fitness level.
The various types of wearable AI devices are earwear, wristwear, eyewear, and other bodywear. Among these, the largest demand in 2018 was created for wristwear AI devices. This was ascribed to the increased demand for wristwear devices incorporated with AI functionalities, such as personal voice assistance, heart rate monitoring, and sleep tracking. Wristwear AI devices are of two types: fitness band and smartwatch. The fastest growth in demand is predicted to be witnessed by fitness bands in the coming years.
Gaming, consumer electronics, and healthcare sectors are the major end users of AI-enabled wearable devices. Among all these, the largest demand for wearable AI devices was created by the consumer electronic sector in 2018. This was because of the rising investments in wearable technology and growing adoption of wearable devices by consumers for monitoring their routine and health-related activities. Moreover, due to the surging demand for these devices, established companies, such as Samsung Electronic Co. Ltd., Apple Inc., Huawei Investment & Holding Co. Ltd., and Fitbit Inc., are focusing on integrating advanced AI features in their devices for making them independent of smartphones.
North America was the largest consumer of wearable AI devices in 2018. The reason for this was the strong presence of consumer electronics companies, which offer advanced products at low prices, high per capita income of consumers in the region, and rising investments for technological innovations in order to broaden the scope of AI applications of wearable devices in different end-use industries. The fastest growth in demand is projected to be registered by the Asia-Pacific region in the coming years. This can be attributed to the rising demand for wearable devices in the region, mainly in India and China
Key Topics Covered
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Product
1.3.2 Market Segmentation by Deployment
1.3.3 Market Segmentation by Component
1.3.4 Market Segmentation by End-use
1.3.5 Market Segmentation by Geography
1.3.6 Analysis Period
1.3.7 Market Data Reporting Unit
1.3.7.1 Value
1.4 Key Stakeholders
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Product
4.1.1.1 Wristwear
4.1.1.1.1 Smartwatch
4.1.1.1.2 Fitness band
4.1.1.2 Earwear
4.1.1.3 Eyewear
4.1.1.4 Other bodywear
4.1.2 By Deployment
4.1.2.1 Cloud
4.1.2.2 On-premises
4.1.3 By Component
4.1.3.1 Processor
4.1.3.2 Display
4.1.3.3 Connectivity IC
4.1.3.4 Power management system
4.1.3.5 Sensors
4.1.3.6 Memory
4.1.3.7 Others
4.1.4 By End Use
4.1.4.1 Consumer electronics
4.1.4.2 Healthcare
4.1.4.3 Gaming
4.1.4.4 Others
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Surging use of fitness bands
4.3.1.2 Rising preference for integration of wearable and smart home devices
4.3.2 Drivers
4.3.2.1 Rising adoption of AI-enabled wearables for healthcare applications
4.3.2.2 Increase in demand for next generation smartwatches
4.3.2.3 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Growing security concerns pertaining to AI-enabled wearable devices
4.3.3.2 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Integration of AI-supported voice assistant in wearable devices
4.3.4.2 Emergence of AR/VR based head-mounted displays (HMD)
4.4 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Product
5.1.1 AI Wristwear, By Type
5.2 By Deployment
5.3 By Component
5.4 By End-use
5.5 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. MEA Market Size and Forecast
Chapter 10. LATAM Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 List of Key Players and Their Offerings
11.2 Market Share Analysis of Key Players
11.3 Competitive Benchmarking of Market Players
11.4 Recent Activities of Major Players
11.5 Strategic Developments of Key Players
11.5.1 Product Launches
11.5.2 Mergers and Acquisitions
11.5.3 Partnerships
Chapter 12. Company Profiles
12.1 Microsoft Corporation
12.1.1 Business Overview
12.1.2 Product and Service Offerings
12.1.3 Key Financial Summary
12.2 Garmin Ltd.
12.3 Fossil Group Inc.
12.4 Xiaomi Corporation
12.5 Fitbit Inc.
12.6 Huawei Investment & Holding Co. Ltd.
12.7 Google LLC
12.8 Samsung Electronics Co. Ltd.
12.9 Sony Corporation
12.10 Apple Inc.
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