The global wearable AI market was surpassed at USD 16.94 billion in 2021 and is expected to hit around USD 166.7 billion by 2030, growing at a CAGR of 28.92% from 2022 to 2030
Report Highlights
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.
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 segment.
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.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 16.94 billion |
| Revenue Forecast by 2030 | USD 166.7 billion |
| Growth rate from 2022 to 2030 | CAGR of 28.92% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Type, application, operations, component, region |
| Companies Covered | Amazon.com, 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 |
Type Insights
The smartwatches segment accounted for the largest revenue share of over 30.05% in 2021. The demand for wireless fitness and sports devices is expected to grow with the growing consumer health consciousness. Additionally, it is predicted to rise at a lucrative rate over the forecast period due to the increasing importance of connected devices across various industries and the rising need for a connected ecosystem. In September 2021, Apple announced the release of the Apple Watch 7 and its newest generation of iPhones. The Apple Watch 7 is the company's eighth-generation smartwatch and the first new model to be introduced in a while. The smartwatch comes in two sizes and offers sports smaller bezels and polished corners.
Smart earwear is expected to exhibit the fastest CAGR of 30.77% over the forecast period. The growth is attributed to increased upgradation of headphones by remote workers for video calling and increased purchase of AI-enabled headphones by millennials and gen Z. In March 2020, a German brand, Montblanc introduced its smart headphones as a part of its travel tech collection, expanding its smart wearable category offering. It offers Google Assistant and can connect to a variety of Bluetooth devices, and its ergonomic design contributes to increased comfort. Jabra, a Germany-based company specializing in video conference systems and audio equipment, launched its smart headphones. The new headphones have microphones with built-in wind noise reduction and improved speech functionality via a dedicated Google Now/Siri button.
Application Insights
The consumer electronics segment accounted for the largest revenue share of over 30.12% in 2021 owing to the increasing demand for smart wearables among consumers to track health vitals. Consumer wearable electronics refer to a range of smart wearables used for fitness and sports, entertainment, and multimedia. Wearable technology is often used to track daily activities and personal health goals. For instance, in February 2022, Noise launched a new smartwatch Noise Colorfit New on Amazon. The watch offers AI voice assistance, Bluetooth calling, a heart rate monitor, oxygen level, and other vital health monitoring features.
The healthcare segment is expected to register the fastest growth rate of 30.94% from 2022 to 2030. The segment is primarily driven 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 have become more prevalent around the globe.
Operations Insights
The on-device AI segment dominated the market with a share of over 55.06% in 2021 and is expected to exhibit the fastest CAGR over the forecast period. The dominance is attributed to the growing requirement for fast computing, less dependency on cloud-based AI for critical operations, and growing demand for low latency devices.
The on-device AI segment offers responsive and powerful operations, which is fueling the segment growth. Northwestern University researchers have created a small handheld wireless sensor that resembles a sticker. It allows medical professionals to keep an eye on vital bodily signals without using any external wire.
Component Insights
The sensors segment dominated the market in 2021 with a revenue share of over 50.21% and is also expected to witness the fastest growth during the forecast period due to the rising number of health and fitness monitoring applications. Wearable sensors are driven by their ability to track the performance and activity of the user.
For instance, Robert Bosh GmbH accounts for one of the major shares in the global market. It provides a complete portfolio of micro-electro-mechanical systems (MEMS)-based sensors and solutions. Its portfolio of motion sensors includes gesture and motion-based products such as inertial measurement units, gyroscopes, and accelerometers. Its smart sensors provide users with low-power and flexible solutions for data processing and motion sensing. These are designed explicitly for always-on sensor applications in wearables, smartphones, and tracking devices.
Regional Insights
Based on regions, North America held the largest market share of 37.91% in terms of revenue in 2021 owing to heavy investment by private players and supportive government initiatives for the adoption of AI technology. In June 2020, Fitbit announced Fitbit Flow, a wearable AI device 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 was intended to serve as an alternative to more expensive traditional ventilators when those are not an option. Similarly, in August 2020, Amazon announced the launch of its flagship fitness tracker the Halo in the U.S., Halo is a smart wearable fitness tracker that tracks mood through voice and scans the wearer's body to measure body fat and provides analysis for the same.
Asia Pacific is expected to register the fastest growth rate over the forecast period owing to collaborations, high investment by private players, and government initiatives for the use of AI wearables for contactless payments. For instance, in 2021, Monarch Technologies partnered with Canna Group LLC to launch Helox, a cashless contactless payment platform for the cannabis industry. It offers a hassle-free way of accepting payments.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Wearable AI Market
5.1. COVID-19 Landscape: Wearable AI Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Wearable AI Market, By Type
8.1. Wearable AI Market, by Type, 2022-2030
8.1.1. Smartwatches
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Smart Eyewear
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Smart Earwear
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Others
8.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Wearable AI Market, By Application
9.1. Wearable AI Market, by Application e, 2022-2030
9.1.1. Consumer Electronics
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Healthcare
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Automotive
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.4. Military & Defense
9.1.4.1. Market Revenue and Forecast (2017-2030)
9.1.5. Media & Entertainment
9.1.5.1. Market Revenue and Forecast (2017-2030)
9.1.6. Others
9.1.6.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Wearable AI Market, By Operations
10.1. Wearable AI Market, by Operations, 2022-2030
10.1.1. On-device AI
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Cloud-based AI
10.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Wearable AI Market, By Component
11.1. Wearable AI Market, by Component, 2022-2030
11.1.1. Processor
11.1.1.1. Market Revenue and Forecast (2017-2030)
11.1.2. Connectivity IC
11.1.2.1. Market Revenue and Forecast (2017-2030)
11.1.3. Sensors
11.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 12. Global Wearable AI Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Forecast, by Type (2017-2030)
12.1.2. Market Revenue and Forecast, by Application (2017-2030)
12.1.3. Market Revenue and Forecast, by Operations (2017-2030)
12.1.4. Market Revenue and Forecast, by Component (2017-2030)
12.1.5. U.S.
12.1.5.1. Market Revenue and Forecast, by Type (2017-2030)
12.1.5.2. Market Revenue and Forecast, by Application (2017-2030)
12.1.5.3. Market Revenue and Forecast, by Operations (2017-2030)
12.1.5.4. Market Revenue and Forecast, by Component (2017-2030)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Forecast, by Type (2017-2030)
12.1.6.2. Market Revenue and Forecast, by Application (2017-2030)
12.1.6.3. Market Revenue and Forecast, by Operations (2017-2030)
12.1.6.4. Market Revenue and Forecast, by Component (2017-2030)
12.2. Europe
12.2.1. Market Revenue and Forecast, by Type (2017-2030)
12.2.2. Market Revenue and Forecast, by Application (2017-2030)
12.2.3. Market Revenue and Forecast, by Operations (2017-2030)
12.2.4. Market Revenue and Forecast, by Component (2017-2030)
12.2.5. UK
12.2.5.1. Market Revenue and Forecast, by Type (2017-2030)
12.2.5.2. Market Revenue and Forecast, by Application (2017-2030)
12.2.5.3. Market Revenue and Forecast, by Operations (2017-2030)
12.2.5.4. Market Revenue and Forecast, by Component (2017-2030)
12.2.6. Germany
12.2.6.1. Market Revenue and Forecast, by Type (2017-2030)
12.2.6.2. Market Revenue and Forecast, by Application (2017-2030)
12.2.6.3. Market Revenue and Forecast, by Operations (2017-2030)
12.2.6.4. Market Revenue and Forecast, by Component (2017-2030)
12.2.7. France
12.2.7.1. Market Revenue and Forecast, by Type (2017-2030)
12.2.7.2. Market Revenue and Forecast, by Application (2017-2030)
12.2.7.3. Market Revenue and Forecast, by Operations (2017-2030)
12.2.7.4. Market Revenue and Forecast, by Component (2017-2030)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Forecast, by Type (2017-2030)
12.2.8.2. Market Revenue and Forecast, by Application (2017-2030)
12.2.8.3. Market Revenue and Forecast, by Operations (2017-2030)
12.2.8.4. Market Revenue and Forecast, by Component (2017-2030)
12.3. APAC
12.3.1. Market Revenue and Forecast, by Type (2017-2030)
12.3.2. Market Revenue and Forecast, by Application (2017-2030)
12.3.3. Market Revenue and Forecast, by Operations (2017-2030)
12.3.4. Market Revenue and Forecast, by Component (2017-2030)
12.3.5. India
12.3.5.1. Market Revenue and Forecast, by Type (2017-2030)
12.3.5.2. Market Revenue and Forecast, by Application (2017-2030)
12.3.5.3. Market Revenue and Forecast, by Operations (2017-2030)
12.3.5.4. Market Revenue and Forecast, by Component (2017-2030)
12.3.6. China
12.3.6.1. Market Revenue and Forecast, by Type (2017-2030)
12.3.6.2. Market Revenue and Forecast, by Application (2017-2030)
12.3.6.3. Market Revenue and Forecast, by Operations (2017-2030)
12.3.6.4. Market Revenue and Forecast, by Component (2017-2030)
12.3.7. Japan
12.3.7.1. Market Revenue and Forecast, by Type (2017-2030)
12.3.7.2. Market Revenue and Forecast, by Application (2017-2030)
12.3.7.3. Market Revenue and Forecast, by Operations (2017-2030)
12.3.7.4. Market Revenue and Forecast, by Component (2017-2030)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Forecast, by Type (2017-2030)
12.3.8.2. Market Revenue and Forecast, by Application (2017-2030)
12.3.8.3. Market Revenue and Forecast, by Operations (2017-2030)
12.3.8.4. Market Revenue and Forecast, by Component (2017-2030)
12.4. MEA
12.4.1. Market Revenue and Forecast, by Type (2017-2030)
12.4.2. Market Revenue and Forecast, by Application (2017-2030)
12.4.3. Market Revenue and Forecast, by Operations (2017-2030)
12.4.4. Market Revenue and Forecast, by Component (2017-2030)
12.4.5. GCC
12.4.5.1. Market Revenue and Forecast, by Type (2017-2030)
12.4.5.2. Market Revenue and Forecast, by Application (2017-2030)
12.4.5.3. Market Revenue and Forecast, by Operations (2017-2030)
12.4.5.4. Market Revenue and Forecast, by Component (2017-2030)
12.4.6. North Africa
12.4.6.1. Market Revenue and Forecast, by Type (2017-2030)
12.4.6.2. Market Revenue and Forecast, by Application (2017-2030)
12.4.6.3. Market Revenue and Forecast, by Operations (2017-2030)
12.4.6.4. Market Revenue and Forecast, by Component (2017-2030)
12.4.7. South Africa
12.4.7.1. Market Revenue and Forecast, by Type (2017-2030)
12.4.7.2. Market Revenue and Forecast, by Application (2017-2030)
12.4.7.3. Market Revenue and Forecast, by Operations (2017-2030)
12.4.7.4. Market Revenue and Forecast, by Component (2017-2030)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Forecast, by Type (2017-2030)
12.4.8.2. Market Revenue and Forecast, by Application (2017-2030)
12.4.8.3. Market Revenue and Forecast, by Operations (2017-2030)
12.4.8.4. Market Revenue and Forecast, by Component (2017-2030)
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Type (2017-2030)
12.5.2. Market Revenue and Forecast, by Application (2017-2030)
12.5.3. Market Revenue and Forecast, by Operations (2017-2030)
12.5.4. Market Revenue and Forecast, by Component (2017-2030)
12.5.5. Brazil
12.5.5.1. Market Revenue and Forecast, by Type (2017-2030)
12.5.5.2. Market Revenue and Forecast, by Application (2017-2030)
12.5.5.3. Market Revenue and Forecast, by Operations (2017-2030)
12.5.5.4. Market Revenue and Forecast, by Component (2017-2030)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Forecast, by Type (2017-2030)
12.5.6.2. Market Revenue and Forecast, by Application (2017-2030)
12.5.6.3. Market Revenue and Forecast, by Operations (2017-2030)
12.5.6.4. Market Revenue and Forecast, by Component (2017-2030)
Chapter 13. Company Profiles
13.1. Amazon.com, Inc.
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. Fitbit, Inc.
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Garmin Ltd.
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Google, Inc.
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. Huawei Technologies Co. Ltd.
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. IBM
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. Motorola Solutions, Inc.
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. TomTom International B.V.
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. Apple, Inc.
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. Samsung Electronics Co. Ltd.
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers