Wearable AI Market Report, 2023 Featuring Leading Players - Apple, Samsung, Google, Microsoft, Sony, Garmin, Fitbit, Huawei, Amazon, IBM, and Oracle
DUBLIN, Dec. 17, 2018 /PRNewswire/ --
The "Wearable AI Market by Product (Smart Watch, Ear Wear, Eye Wear), Operation (On-Device, Cloud-Based), Component (Processor, Connectivity IC, Sensors), Application (Consumer Electronics, Enterprise, Healthcare), and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The wearable AI market is projected to reach USD 42.4 billion by 2023, from USD 11.5 billion in 2018, growing at a CAGR of 29.75% during that period.
The expected market growth can largely be attributed to increase in demand for AI assistants, augmentation of operations in healthcare industry, emergence of IoT and integration of wireless technology, growth prospects of wearable component technology, and increase in consumer preference and demand for advanced wearable devices. However, rapidly evolving consumer electronics sector with a shorter life cycle inhibits the growth of the wearable AI market.
The wearable AI market is in the growth phase and is fueled with technological developments and increased consumer awareness. Wearable devices coupled with advanced software, real-time analytics, on-board AI, and efficient wireless communication is picking up the demand for the overall wearable AI market.
The wearable AI market is characterized by rapidly evolving technologies such as voice-based assistance, behavioral analysis, visual perception, speech recognition, and others beyond just sensing technologies. The overall wearable AI market was valued at USD 8.95 billion in 2017 and is expected to reach USD 42.43 billion by 2023, at a CAGR of 29.75% during the forecast period.
Key Topics Covered:
1 Introduction
1.1 Study Objectives
1.2 Definition
1.3 Study Scope
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Secondary and Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions
3 Executive Summary
4 Premium Insights
4.1 Wearable AI Market Opportunities
4.2 Wearable AI Market for On-Device AI, By Application
4.3 Wearable AI Market in APAC, By Application & Country
4.4 Country-Wise Snapshot of Wearable AI Market
4.5 Wearable AI Market in APAC, By Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increase in Demand for AI Assistants
5.2.1.2 Augmentation of Operations in Healthcare Industry
5.2.1.3 Emergence of IoT and Integration of Wireless Technology
5.2.1.4 Growth Prospects of Wearable Component Technology
5.2.1.5 Increase in Consumer Preference and Demand for Advanced Wearable Devices
5.2.2 Restraints
5.2.2.1 Rapidly Evolving Consumer Electronics Sector With Shorter Life Cycle
5.2.3 Opportunities
5.2.3.1 Wearable as A Service
5.2.3.2 Wearables for Pets and Animals
5.2.4 Challenges
5.2.4.1 Charging, Power, and Battery Life Optimization
5.2.4.2 Designing Technologically Advanced Product Along With Fashionable Elements
5.2.4.3 Data Privacy Compliances and Regulations
5.3 Value Chain Analysis
6 Wearable AI Market, By Product
6.1 Introduction
6.2 Smart Watch
6.2.1 Being Most Popular Wearable Product, Smart Watch to Have A Highest Rate of Adoption for AI Integration
6.3 Ear Wear
6.3.1 Adoption of AI in Wearable to Grow Owing to Best Suitability for Voice Assistance and Bring AI Features to Users in Most Convenient Way
6.4 Eye Wear
6.4.1 Demand for AI in Eye Wear is Growing Owing to Its Wide Usage in Enterprise & Industrial Applications
6.5 Other Body Wear
7 Wearable AI Market, By Component
7.1 Introduction
7.2 Display
7.2.1 Wearable AI Market for Displays to Lead During Forecast Period Owing to Dominance of Smart Watches
7.3 Processor
7.3.1 Growing Market for Processors Attributed to Increasing Demand for High-End Features to Facilitate Ease in AI Integration
7.4 Power Management
7.4.1 Challenges for Power Management in Adherence With Increasing Trend of Miniaturization to Drive the Growth of Power Management Market
7.5 Connectivity IC
7.5.1 Cellular
7.5.1.1 to Achieve A Data Connectivity Over A Long Distance Cellular is One of the Most Preferred Connectivity Technology
7.5.2 NFC
7.5.2.1 NFC is Preferred to Achieve A Quick Connection for A Closed Proximity Operation
7.5.3 Bluetooth
7.5.3.1 Bluetooth is Mostly Preferred for Convenient Connectivity With Other Portable Devices
7.5.4 Wi-Fi+Bluetooth
7.5.4.1 Achieving High Performance and Cost-Effective Communication Wi-Fi + Bluetooth is Most Preferred Technology
7.5.5 Wi-Fi
7.5.5.1 The Requirement for Operations Over Cloud to Drive the Increasing Demand for Wi-Fi Technology
7.5.6 ANT+
7.5.6.1 The Market for ANT+ is Attributed to the Operations Over Low-Power Sensor Networks
7.5.7 GPS
7.5.7.1 The Increasing Demand for GPS Technology is Owing to the Applications Areas Such as Patient Monitoring, Child Surveillance, and Others
7.6 Memory/Storage
7.6.1 Increasing Multimedia Features in Wearable Devices Such as Smart Watches Driving the Need for Additional Internal Memory
7.7 Sensors
7.7.1 Increasing Need for Monitoring More Number of Physiological Parameters That Would Facilitate Better AI Integration to Drive the Growth of Sensor Market
7.8 UI
7.8.1 UI Market Growth Attributed to Ongoing Improvements for Better User Experience
7.9 Others
8 Wearable AI Market, By Operation
8.1 Introduction
8.2 On-Device AI
8.2.1 Increasing Need for Higher Performance and Better Reliability to Drive the Demand for On-Device AI Wearables
8.3 Cloud-Based AI
8.3.1 Cloud-Based AI to Hold Largest Market Owing to Simplicity in Operation and Cost-Effectiveness
9 Wearable AI Market, By Application
9.1 Introduction
9.2 Consumer Electronics
9.2.1 Growth of Wearable AI Market in Consumer Electronics Attributed to Rising Consumer Awareness for Fitness and Health
9.3 Healthcare
9.3.1 Increasing Adoption of Technology in Healthcare for Process Improvement to Drive Adoption of Wearable AI in Healthcare
9.4 Enterprise and Industrial
9.4.1 Increasing Worker Performance and Process Efficiency to Drive the Demand for Wearable AI in Enterprise and Industrial Applications
9.5 Others
10 Geographic Analysis
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 US to Hold Largest Market of Wearable AI in North America During Forecast Period
10.2.2 Canada
10.2.2.1 Wearable AI Market in Canada to Grow With Rising Adoption of Wearables in Healthcare and Enterprises
10.2.3 Mexico
10.2.3.1 Increasing Use of Consumer Electronics to Drive Wearable AI Market in Mexico
10.3 Europe
10.3.1 Germany
10.3.1.1 Increasing Consumer Adoption of Wearable Devices to Define the Growth of Wearable AI in the Country
10.3.2 France
10.3.2.1 Growth of Wearable AI Market in France Driven By Increasing Demand for Portable Electronic Products, Especially From the Country's Healthcare and Consumer Sectors
10.3.3 UK
10.3.3.1 Market in the UK to Grow With Wearable Adoption in Healthcare and Consumer Electronics
10.3.4 Rest of Europe
10.4 APAC
10.4.1 China
10.4.1.1 China to Hold Largest Market Share of Wearable AI in APAC During Forecast Period
10.4.2 Japan
10.4.2.1 Technologically Advanced Manufacturing Industry to Drive the Growth of Wearable AI in Japan
10.4.3 South Korea
10.4.3.1 Presence of Leading Manufacturers in Wearable Space Drive Wearable AI Market Growth in Consumer Electronics in the Country
10.4.4 India
10.4.4.1 Wearable AI Market in India is Primarily Driven By Increasing Application Areas in Consumer and Healthcare Sectors
10.4.5 Rest of APAC
10.5 RoW
10.5.1 South America
10.5.1.1 Growing Economies Such as Brazil and Other are Driving the Growth of Wearable AI Market in South America
10.5.2 Middle East & Africa
10.5.2.1 Industrial Development to Drive the Demand of Wearable AI in the Middle East
11 Competitive Landscape
11.1 Overview
11.2 Ranking Analysis
11.2.1 Apple (US)
11.2.2 Samsung (South Korea)
11.2.3 Google (US)
11.2.4 Microsoft (US)
11.2.5 Sony (Japan)
11.3 Competitive Scenario
11.3.1 Product Developments and Launches
11.3.2 Partnerships, Agreements, and Collaborations
11.3.3 Acquisitions
11.3.4 Investments and Expansions
12 Company Profiles
12.1 Key Companies
12.1.1 Apple
12.1.2 Samsung
12.1.3 Google
12.1.4 Microsoft
12.1.5 Sony
12.1.6 Garmin
12.1.7 Fitbit
12.1.8 Huawei
12.1.9 Amazon
12.1.10 IBM
12.1.11 Oracle
12.2 Key Start-UPS
12.2.1 Bragi
12.2.2 Motive
12.2.3 Shft
12.2.4 Lifebeam
12.2.5 Focusmotion
12.2.6 Moov
12.2.7 Atlas
12.2.8 Biobeats
12.2.9 Physiq
12.2.10 Touchkin
For more information about this report visit https://www.researchandmarkets.com/research/fcskqb/wearable_ai?w=5
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article