Asia Pacific wearable AI market is slated to register a growth rate of more than 50% in the forthcoming years owing to the increase in the average income across countries like South Korea, India, Japan and China. North America region had held over 30% of wearable AI industry share in 2018. Customers under the age bracket of 16-34 have driven the adoption of smart wearable devices along with the presence of large number of consumer electronics makers like Apple and Oculus, who have introduced high-end devices.
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Technological advancements in gaming hardware and software consoles that support AR/VR will help the gaming segment to exhibit a CAGR of more than 35% over the forecast timeframe. The AR/VR based environment has integrated audio graphics and advanced video capabilities, rapidly gaining popular among gamers. The manufacturers of smart wearable devices have incorporated several next-gen technologies into product offerings like 3D effects and interactive graphics in order to offer a realistic experience to all the gamers, impacting wearable AI market outlook.
Continuous advancements in design and functionality of smartwatches have increased the adoption of wearable artificial intelligence (AI) devices among consumers. Fast-paced growth in urbanization has raised disposable incomes in the hands of consumers that has led to considerable changes in the spending trends with regard to consumer electronic products. The dramatic rise in the demand for smartwatches and an easy to use interface have helped propel global wearable AI market share.
There has been a spur in the adoption of smart wearable tech among customers for health monitoring applications, owing to the increase in heart-related diseases and obesity all over the world. Integrated with several sensory hardware and capable of monitoring numerous health-oriented vitals that include heart rate and blood pressure, smartwatches and fitness bands enable consumers to gauge their health conditions regularly without the requirement of a dedicated healthcare personnel. The devices also give insights to the consumers that help in maintaining a healthy lifestyle on a daily basis, which will further increase the wearable AI market size.
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