A technologically sophisticated drug delivery system or instrument implanted below the skin for steady administration of medication or fluid is an implantable pump. These pumps are used for the supply of anti - spasmodic, chemotherapeutic and opioid medicines. The report provides analysis of global Wearable Artificial Intelligence (AI) market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year. According to Acumen Research and Consulting, the global Wearable Artificial Intelligence (AI) market is expected to grow at noteworthy CAGR around 27 % throughout the forecast period and reach around US$ 185 billion by 2026.
A key factor accelerates the adoption of intelligant wearables is the increasing disposability of households in emerging economies. In the last decade there has been a significant growth in the middle class of emerging economies. The World Bank has estimated that the size of the Asia Pacific middle class has risen from 525 million in 2009 to 1,700 million in 2018, to about 3,000 million by 2030. This growth is attributable to the development and fast industrialisation of skilled workers and to the increasing number of jobs in the service industries. As a result, the pattern of consumer expenditure has changed substantially to consumer electronics. That encourages smartwatch manufacturers to take advantage of the changing way of life and the increasing patterns of customer spending in emerging countries.
Consumers ' increased emphasis on health and fitness monitoring drives the growth of the market for wearable AI. Due to the growing global demand for wearable equipment among consumers for fitness monitoring, obesity and diseases are increasing. Fitness belts and smartwatches have various sensors to monitor many health-related vital things like heartbeats and blood pressure, which enhances users ' daily monitoring of their health without medical professionals ' intervention. It also allows users to monitor their health conditions in a low - cost way in real time, encouraging consumers around the world to use intelligent wearable devices.
With an industry share of more than 86% in 2018, the smart and fitness band market dominated the wearable AI market. Intelligent reloaders track different activities such as cardiac velocity, day-covering steps and burnt calories. Smart Uhren are increasingly popular with consumers, enabling calls to be made and received by consumers and managing diverse notifications remotely. Increasing adoption and fast Internet connectivity of smart phones are driving the growth of the smart watches and fitness bands market. Today, big smart phone players like Samsung, Apple, and Xiaomi dominate the smart watches and fitness bands market, making good use of their global distributor network to improve their market presence.
A CAGR of more than 38.5% is projected to expand the head-assembly display segment on the wearable IA market. Chef mounted displays are widely used in the gaming sector because they provide a complete 360-degree vision and an immersive, high-quality and realistic gaming experience. The technological advances in the head-mounted display landscape have led to the development of high-level controllers and gaming consoles which enable gamers to interact more closely in a gaming environment. As consumers become increasingly reluctant to purchase screenless VR devices that require headsets to be combined with smartphones, the high cost associated with the head - mounted displays is the main factor limiting the growth of the market.
Due to the increased use of intelligent wearable devices by consumers to improve their lifestyles the consumer electronics segment had over 90.3% of the wearable AI markets. The popularity of wearable technology among consumers has grown exponentially ever since the emergence of smart clock and fitness bands, since increasing numbers of people relies on clever wearables to monitor their health conditions daily. Major consumer electronics companies, such as Apple, Samsung and Huawei, integrate superior characteristics into smart wearable devices to position them as independent devices and reduce their smart phone dependence.
In the planned timeframe, the company application is expected to grow in the wearable AI market at CAGR by over 50.5%. Intelligent wearable devices are used in different industrial settings so that employees can communicate and cooperate effectively across remote sites. It offers users a comfortable and immersive experience with a mixed reality and increases the field of view with a three-dimensional experience for users. It offers staff real-time insights and optimizes business activities in order to increase efficiency and productivity. It enhances training efficiency by developing a highly interactive and dynamic employee education environment. The costly nature of the products limits its acceptance in the budgetary constraints industries.
Geographically, five major regions have been segmented into the global market of the Wearable Artificial Intelligence (AI): North America, Europe, Asia Pacific, Latin America and Middle East and Africa. As a result of an increase in per capita incomes in countries including China, India, which drive the use of wearable AI devices in the area, Asia Pacific wearable AI will grow more than 51% in a CAGR from 2019 to 2026. In the region, companies introduce various intelligent wearable devices with state-of - the-art features at affordable prices. Xiaomi introduced the USD 30 Mi Band 3, which included sensors like the optical cardiac heart rate sensor, the acceleration sensor and the podium meter, in May 2018, for example. Moreover, Smart Wearable devices are being used by the presence of leading smart clock manufacturers such as Samsung and Xiaomi.
Due to the increased per capita income and consumer spending patterns in the region, Europe accounted for over 24.9% of the wearable AI market in 2018. In order to be able to compete more effectively with cheap products from foreign players, large consumer electronic players in the area incorporate advanced features in their offering. The majority share in the region is held by premium companies such as Apple and Facebook.
Global Wearable Artificial Intelligence (AI) Market, by Product
Global Wearable Artificial Intelligence (AI) Market, by Application
Global Wearable Artificial Intelligence (AI) Market, by Geography
The market research study on “Wearable Artificial Intelligence (AI) Market (By Product: Fitness Band & Smartwatch, Head Mounted Display, Earwear; By Application: Consumer Electronics, Enterprise, Gaming) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Wearable Artificial Intelligence (AI) market segments with market dynamics and their impact. The report also covers basic technology development policies.
The report offers an overview of the market and statistical diagrams to support the expected figures. Our analysts predict the market scope and future prospects in an insightful way. The Acumen Research and Consulting report contains a comprehensive analysis of the global market in Wearable Artificial Intelligence (AI) segmented by molecular type, test type and region. The report outlines numerous growth strategies implemented by companies as well as the latest market trends. The market share and current position of all leading players are discussed in detail. It analyzes players ' new revenue sources and highlights the different strategies.
Key Players & Strategies
The Wearable Artificial Intelligence (AI) market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are Facebook: Apple, Samsung, Garmin, Fossil, Microsoft, HTC, Huawei, Bragi, Jabra, ANTVR, Huami and Google.
Large players like Huawei, Samsung, Facebook Apple, Fitbit and Microsoft lead the wearable AI market. Large companies are currently working to develop cost-effective solutions to compete with Asia-Pacific regional actors. The tech players have worked with luxury brands to compete better in developing their own premium smartwatch product line with the large watch companies. Apple partnered with Nike and Hermès in September 2016, for example, to develop its own premium smart clock offering range. Startups such as Misfit and ANTVR focus on the cost - effective supply of products to take advantage of the large players on the market.