The gaming segment in Wearable AI Market is anticipated to attain a growth rate of over 35% over the forecast timeline. This is credited to the technical advances in the VR/AR oriented gaming software & hardware gaming consoles. The addition of next-generation audio & video graphics in the VR/AR oriented immersive gaming landscape is swiftly gaining traction in the VR/AR based gaming community. The wearable technology device enterprises are incorporating advanced gaming technologies, such as 3D graphics and interactive graphics, to provide a more immersive experience to the users. The consumer electronics market accounts for over 90% stake in the wearable AI market due to the rising adoption of smart wearable devices among consumers to enhance their lifestyle.
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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 devices share.
The smartwatches and fitness bands segment holds over 85% share in the wearable AI market. The continual advancements in the design & functionality of smartwatches and along with its availability at the inexpensive price have increased its usage among consumers. Particularly, the availability of LTE connectivity in smartwatches has offered customers an alternative to bulky smartphones. The head-mounted display market is projected to attain a CAGR of more than 38% over the projected time period due to its widespread adoption in the VR-based gaming sector as it provides the gamers with immersive & high-quality gaming experience.
The North America region held more than 30% share in the wearable AI market in 2018. The large consumer electronics providers, such as Oculus and Apple, have provided consumers with high-end wearable devices at a lower price. Moreover, the high level of adoption levels among customers within the age bracket of 16 to 34 is driving the adoption of smart wearable devices in the region. The Asia Pacific wearable AI industry is predicted to register a growth rate of over 50% during the forecast timeline due to the growing average income in developing countries such as China, South Korea, India, and Japan. The companies present in these countries are introducing smart wearable products at affordable prices.
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As consumers are increasingly adopting smart devices to be worn on the body, wearable AI market growth is bound to witness an added impetus over the coming years. Indeed, prominent wearable AI industry forecasts claim the market to register a double-digit CAGR over 2019-2025. As the competition stiffens, wearable AI industry players are diversifying their approach in the development of devices which has led to the increasing penetration of wearable AI devices in security, gaming and even fashion. Characterized by extensive growth prospects, wearable AI market share is expected to surpass $180 billion by 2025.
Some Points From Table Of Content: –
Chapter 5. Global Wearable AI Market, By Product
5.1. Key trends, by product
5.2. Smartwatch & fitness band
5.2.1. Market estimates and forecast, 2016 – 2025
5.3. Head Mounted Display (HMD)
5.3.1. Market estimates and forecast, 2016 – 2025
5.4.1. Market estimates and forecast, 2016 -2024
Chapter 6. Global Wearable AI Market, By Application
6.1. Key trends, by application
6.2. Consumer electronics
6.2.1. Market estimates and forecast, 2016 – 2025
6.3.1. Market estimates and forecast, 2016 – 2025
6.4.1. Market estimates and forecast, 2016 – 2025
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