Artificial Intelligence

Wearable AI Market to be Worth $166.47 Billion by 2030

SAN FRANCISCO, Oct. 6, 2022 /PRNewswire/ -- The global wearable AI market size
is expected to reach USD 166.47 billion by 2030, based on a new report by
Grand View Research, Inc., expanding at a CAGR of 29.3% from 2022 to 2030. The
continuous research and development by key players are driving the market in
industry verticals, such as healthcare, automotive, media and entertainment,
military and defense, and consumer electronics. For instance, in June 2020,
Fitbit announced Fitbit Flow, in response to the lack of ventilators in
hospitals and medical facilities around the world that are required to treat
critically ill patients. The equipment is intended to serve as an alternative
to more expensive traditional ventilators when they are not available.

Key Industry Insights & Findings from the report:

  * The smartwatches type segment held the largest revenue share of over 30.0%
    in 2021 owing to increased investments in R&D, significant spending by the
    government and private sector on the IT and ICT industry, and the
    existence of prominent companies such as Google Inc.; Fitbit, Inc.; and, Inc.
  * The smart earwear type segment is expected to register the fastest CAGR of
    30.6% over the forecast period. The growth is attributed to the increased
    upgradation of headphones by remote workers for video calling and
    increased purchase of AI-enabled headphones by millennials and Gen Z.
  * Based on the application, the consumer electronics segment accounted for
    the largest revenue share of over 30.0% in 2021 owing to the increasing
    globalization and the rapid development of technology. In November 2021,
    Fire Boltt launched its AI smartwatch in India at an affordable rate. The
    smartwatch offers features such as Bluetooth calling and a SpO2 monitor.
  * The healthcare application segment is expected to register the fastest
    growth rate of 30.8% from 2022 to 2030. The segment is driven primarily by
    growing customer concerns over fitness and health. It is anticipated that
    the use of fitness trackers and smartwatches would increase as obesity and
    other heart problems become more prevalent around the globe.
  * The on-device AI operations segment dominated the market with a share of
    over 55.0% in 2021 and is expected to witness the fastest CAGR over the
    forecast period. The growth can be attributed to the growing requirement
    for fast computing and less dependency on cloud-based AI for critical
  * Based on component, sensors dominated the market in 2021 with a share of
    over 50.0%. The sensors are gaining prominence due to the rising number of
    health and fitness monitoring applications globally.
  * North America dominated the market in terms of revenue share of over 37.0%
    in 2021 pertaining to the factors such as rising demand for contactless
    payments using wearables, the advent of IoT, expansion of operations in
    the healthcare industry and the introduction of wireless technology.
  * Some of the key players operating in the market are, Inc.;
    Fitbit, Inc.; Garmin Ltd.; Google, Inc.; Huawei Technologies Co. Ltd.;
    IBM; TomTom International B.V.; among others.

Read full market research report for more Insights, " Wearable AI Market Size,
Share & Trends Analysis Report By Type (Smartwatches, Smart Eyewear, Smart
Earwear), By Application, By Operations, By Component, By Region, And Segment
Forecasts, 2022 - 2030 ", published by Grand View Research.

Wearable AI Market Growth & Trends

Wearable AI devices are electronic products with advanced technologies
incorporated with artificial intelligence with the ability to execute
intelligent operations that are manufactured to be worn on the user's body.
The COVID-19 pandemic had a moderate impact on the market for wearable AI. The
lockdown imposed in various countries had a negative impact on the supply
chain and therefore the availability of products to the consumers.
Additionally, the pandemic had a positive impact on the medical AI wearable

The wearable technologies assisted in the COVID-19 pandemic and numerous
wearable manufacturers started modifying their products to help with the early
detection of COVID-19. Algorithms for measuring coughing and other respiratory
activities were developed. This enabled less affected individuals to be
monitored remotely, which eased the burden on hospitals. Many companies in the
market focused on high investment in R&D for incorporating technologies in the
wearables to track COVID-19. For instance, Masimo SafetyNet, a disposable
fingertip attachment worn on a wearable bracelet, helped in tracking a
patient's blood oxygen levels, breathing rate, and pulse both inside and
outside of a hospital setting.

Wearable AI Market Segmentation

Grand View Research has segmented the global wearable AI market based on type,
application, operations, component, and region:

Wearable AI Market - Type Outlook (Revenue, USD Million, 2017 - 2030)

  * Smartwatches
  * Smart Eyewear
  * Smart Earwear
  * Others

Wearable AI Market - Application Outlook (Revenue, USD Million, 2017 - 2030)

  * Consumer Electronics
  * Healthcare
  * Automotive
  * Military & Defense
  * Media & Entertainment
  * Others

Wearable AI Market - Operations Outlook (Revenue, USD Million, 2017 - 2030)

  * On-device AI
  * Cloud-based AI

Wearable AI Market - Component Outlook (Revenue, USD Million, 2017 - 2030)

  * Processor
  * Connectivity IC
  * Sensors

Wearable AI Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

  * North America

       * U.S.
       * Canada

  * Europe

       * U.K.
       * Germany
       * France
       * Italy
       * Spain
       * Russia

  * Asia Pacific

       * China
       * Japan
       * India
       * Australia
       * South Korea
       * Singapore
       * Latin America
       * Brazil
       * Mexico
       * Argentina

  * Middle East & Africa

       * South Africa
       * Saudi Arabia
       * UAE

List of Key Players of Wearable AI Market

  *, Inc.
  * Fitbit, Inc.
  * Garmin Ltd.
  * Google, Inc.
  * Huawei Technologies Co. Ltd.
  * IBM
  * Motorola Solutions, Inc.
  * TomTom International B.V.
  * Apple, Inc.
  * Samsung Electronics Co. Ltd.
  * Sony Corporation

Check out more related studies published by Grand View Research:

  * Artificial Intelligence In Healthcare Market - The global artificial
    intelligence in healthcare market size is expected to reach USD 208.2
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    The market is expected to expand at a CAGR of 38.4% from 2022 to 2030. The
    growing demand for personalized medicine, rising demand for value-based
    care, growing datasets of patient health-related digital information,
    advancements in healthcare IT infrastructure, penetration of smartphones,
    improved internet connectivity, and shortage of care providers is
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    more flexibility, fewer risks, and with a faster recovery time.
  * AI-based Clinical Trial Solutions For Patient Matching Market - The global
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    report by Grand View Research, Inc. The major factors attributing the
    industry growth are the increasing worldwide incidences of chronic
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Browse through Grand View Research's  Healthcare IT Industry  Research

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