According to Global Market Insights, the wearable artificial intelligence (AI) market is set to score $180 billion with over 1 billion units sold by 2025. According to the research firm, the growth of smartwatches has been the primary factor propelling the wearable AI market. Continuous improvements in the design and functionality along with its availability at lower price increased its adoption among consumers. Specifically, the introduction of LTE connectivity feature in smartwatches has provided customers with an alternative to bulky smartphones.
- Advancement in miniaturized electronics and mobile access to computational power is propelling the growth of the wearable AI market.
- Increasing data security concern regarding smart wearable devices is hindering market growth.
- High production costs and limited battery concerns are also restraining user adoption.
- Earwear market is anticipated to attain a growth rate of over 43% during the forecast period.
- Gaming market is projected to register a CAGR of over 35% during the forecast time.
- North America held over 30% share in the wearable AI market due to the high per capita income of consumers in the region.
- Companies operating in the wearable AI market are Apple, Facebook, Garmin, Xiaomi, Bragi, ANTVR, Huami, Jabra, Microsoft, HTC, Huawei, Fossil, Fitbit, Samsung, and Google.
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