Wearable AI Devices Market Trend, Growth & Innovation Trends

1. 2022 Wearable AI Devices Market Analysis, Emerging Trends, Key Players, Future Scope

2. The increasing public awareness about fitness level and surging public focus on healthy lifestyle, owing to the hectic work schedule and the sedentary life of people, are propelling the usage of wearable devices worldwide. People use wearable devices to track vitals, such as heartbeat, calorie intake, and calories burnt. The real-time information displayed by these devices helps reduce diabetes cases and encourage people to exercise regularly. Owing to the various benefits of artificial intelligence (AI)-powered wearable devices, electronics manufacturers are increasingly adopting AI technologies in their products. Additionally, the mounting per capita income of people will also help the wearable AI devices market propel at a whopping CAGR of 29.0% during 2019–2024. According to P&S Intelligence, the market was valued at $11,182.8 million in 2018, and it will generate $49,240.6 million revenue by 2024. For instance, the World Bank states that the per capita gross national income (GNI) of China, Australia, and France grew from $10,390 in 2019 to $10,610 in 2020, $48,660 in 2018 to $50,540 in 2019, and $47,600 in 2018 to $50,400 in 2019, respectively. Currently, wearable device manufacturers are integrating AI technology in wristwear, such as fitness bands and smartwatches, earwear, and eyewear. In earlier times, AI-enabled wristwear was preferred over other wearables as they are equipped with AI functionalities, such as heart rate monitoring, sleep tracking, and personal voice assistance. All the above-mentioned AI-supported wearables consist of displays, sensors, memory devices, processors, power management systems, and connectivity integrated circuits (ICs). These advanced wearable devices are used in the gaming, healthcare, and consumer electronics industries.

3. In recent years, AI-enabled wearable device manufacturers are predominantly focusing on partnerships to facilitate the adoption of their products among a greater number of people. For example, in January 2018, Xiaomi Corporation partnered with Oculus to introduce standalone VR headsets, such as Xiaomi Mi and Oculus GO VR Standalone. Both these headsets use Snapdragon mobile VR platform to meet high-processing requirements. Companies such as Fitbit Inc., Google LLC, BRAGI GmbH, Apple Inc., Fossil Group Inc., and Huawei Investment & Holding Co. Ltd., are also entering into partnerships to lure more customers. Globally, North America dominated the wearable AI devices market in the recent past due to the presence of numerous consumer electronics manufacturers, the high per capita income of people, and hefty investments that were made to encourage AI integration in wearable devices in the region. For instance, the World Bank states that the per capita GNI of the U.S. was $66,060 in 2019. The organization also estimates that the per capita GNI of Canada grew from $49,430 in 2018 to $49,990 in 2019. Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/wearable-ai-devices-market/report-sample

4. In the upcoming years, the Asia-Pacific (APAC) region will emerge as a significant user of AI-enabled wearable devices, owing to the surging disposable income of people, booming population, and increasing adoption of advanced technologies, such as AI. For example, the Reserve Bank of India (RBI) data reveals that the gross national disposable income of India rose from INR 1,73,15,933 crore in financial year (FY) 2017–2018 to INR 1,92,37,943 crore in FY 2018–2019. Thus, the rising public focus on a healthy lifestyle and escalating per capita income of people are encouraging the usage of wearable AI devices worldwide. More Latest Reports by P&S Intelligence: Interactive Kiosk Market Growth Payment Processing Solutions Market Outlook Europe E-Signature Market Insights Contact Center Software Market Outlook

5. This study covers 1. Historical and the present size of the Wearable AI Devices Market 2. Future potential of the market through its forecast for the period 2020– 2030 3. Historical and the present size of the market segments and understand their comparative future potential 4. Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings 5. Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders 6. Major players operating in the market and their service offerings

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