The global wearable AI market size was estimated to be USD 27.61 billion in 2023 and is expected to reach at USD 492.31 billion by 2034 with a CAGR of 29.94% during the forecast period 2024-2034. The rapid growth of emerging technologies, such as artificial intelligence (AI), the widespread adoption of 5G smartphones, increasing use of AI-powered smart wearables can be attributed to the progress of the Internet of Things (IoT) & the seamless integration of wireless technologies, smartwatches are gaining popularity, particularly among millennials & Generation Z, increasing advancements in technology have led to the development of a range of innovative wearable sensory devices with minimally invasive health monitoring capabilities, growing technological advancements, numerous device manufacturers are placing a strong emphasis on integrating wellness & personal health features into wearables, and rising introducing AI-enabled wearable products are some of the key factors boosting the market growth.
Rising introducing AI-enabled wearable products is predicted to boost the market growth during the forecast period. AI in wearable devices plays a crucial role in enhancing system functionalities and performance. It achieves this by offering real-time data and statistics, improving decision-making processes, monitoring user interactions, and delivering a more interactive experience. The Internet of Things (IoT) enables machine-to-machine communication and connection to cloud platforms, enabling the integration of artificial intelligence into wearable devices. Wearable AI encompasses a range of intelligent equipment, including smart clothing, smartwatches, smart eyewear, smart gloves, and others. AI technology amplifies the capabilities of existing wearable accessories by adding features like machine learning, analytics, and real-time actionable audio and visual feedback, among other enhancements. For instance, in June 2022, Noise has introduced its eyewear, the Noise i1. This eyewear can connect to smartwatches via Bluetooth, offering wireless music streaming and voice assistance. The Noise i1 allows users to answer or decline phone calls, control music playback, and activate the voice assistant on their phone.
By type, smartwatches was the highest revenue-grossing segment in the global wearable AI market in 2023 owing to the growing demand for wireless fitness & sports devices, surge in consumer health consciousness, rising significance of interconnected devices is evident across a multitude of industries, increasing need for a connected ecosystem, and growing introduction of advanced devices. For instance, in September 2022, Apple, based in the United States, has unveiled the Apple Smart Watch Series 8. This latest Apple Watch Series 8 offers temperature sensing for insights into women's health, Car Crash Detection, and sleep stage tracking to help users better understand their sleep patterns. Additionally, smart earwear is predicted to grow at fastest CAGR during the forecast period owing to the remote workers are increasingly upgrading their headphones for video calls, and millennials and gen Z are showing an uptick in the acquisition of AI-enabled headphones.
By component, sensors was the highest revenue-grossing segment in the global wearable AI market in 2023 owing to the capability to monitor & measure the user's performance & activity and increasing number of health & fitness monitoring applications available. Additionally, display is predicted to grow at fastest CAGR during the forecast period owing to the dominance of smartwatches over the entire wearable market, growing awareness among consumers about the benefits of OLED technology featuring better viewing angle, excellent contrast, and refresh rates, and rising introduction of cutting-edge technology. For instance, in July 2023, The Humane AI Pin is a wearable projector that can be attached to clothing and serves as a non-physical smartphone by projecting apps, calls, and voice assistance onto hands or surfaces. It was created by a team led by Imran Chaudhri, a former Apple design director, and is powered by artificial intelligence. The Humane AI Pin showcased its capabilities at TED2023 in Vancouver, Canada, providing a sneak peek into its functionality.
By operations, on-device AI was the highest revenue-grossing segment in the global wearable AI market in 2023 owing to the efficiency & high-performance operations, rising need for rapid computing, reduced reliance on cloud-based AI for critical operations, and increasing demand for low-latency devices. Additionally, cloud-based AI is predicted to grow at fastest CAGR during the forecast period. The broader adoption of cloud-based AI in wearables is primarily driven by its ease of use. While cloud-based AI may not offer the same real-time response as on-device AI, it remains popular due to its cost-efficiency. Additionally, the integration of high-performance processors and continuous software enhancements in cloud-based AI makes it a reliable and user-friendly choice for wearable devices. For instance, in September 2022, Google Cloud in the United States and Fitbit Health Solutions in the United States have jointly introduced the Device Connect for Fitbit solution. This initiative is designed to provide healthcare organizations with a comprehensive perspective on patients beyond clinical settings by leveraging data collected from wearable devices.
By application, consumer electronics was the highest revenue-grossing segment in the global wearable AI market in 2023 owing to the growing consumer demand for smart wearables that can monitor & track various health metrics & vitals. Consumer wearable electronics encompass a variety of smart wearables designed for fitness, sports, entertainment, and multimedia purposes. These wearable technologies are commonly utilized to monitor daily activities and help individuals achieve their personal health objectives. For instance, in May 2022, Samsung Electronics from South Korea and Google from the United States have collaborated to create a unified Wear OS platform that seamlessly integrates with Android devices. This platform incorporates Google Play, offering users access to a range of popular apps and services, including Google Maps, Google Pay, and YouTube Music. As a result, Galaxy Watch4 users can now download Google Assistant on their devices, allowing them to enjoy fast, natural voice interactions, quick answers to questions, and on-the-go assistance. Additionally, healthcare is predicted to grow at fastest CAGR during the forecast period owing to the rising customer concerns related to fitness & health and increasing prevalence of obesity & other heart-related issues worldwide is leading to a greater adoption of fitness trackers & smartwatches.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in investment by private market players, rising supportive government initiatives for the adoption of AI technology, increasing technological advancements, and growing collaborations within key market players. For instance, in May 2022, IBM has announced a strategic collaboration agreement with Amazon Web Services (AWS). This partnership allows IBM to offer a range of its software products as services on the AWS marketplace. The collaboration involves both companies making investments to enhance the utilization of IBM's services and their integration with AWS, benefiting businesses and customers. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising collaborations within market players, surge in government initiatives for the use of AI wearables for contactless payments, and increasing launch of innovative products. For instance, in October 2023, Motorola has introduced its Adaptive Display Concept, featuring groundbreaking artificial intelligence and flexible hardware innovations, at the Lenovo Tech World 2023 event.
Rising introducing AI-enabled wearable products is predicted to boost the market growth during the forecast period. AI in wearable devices plays a crucial role in enhancing system functionalities and performance. It achieves this by offering real-time data and statistics, improving decision-making processes, monitoring user interactions, and delivering a more interactive experience. The Internet of Things (IoT) enables machine-to-machine communication and connection to cloud platforms, enabling the integration of artificial intelligence into wearable devices. Wearable AI encompasses a range of intelligent equipment, including smart clothing, smartwatches, smart eyewear, smart gloves, and others. AI technology amplifies the capabilities of existing wearable accessories by adding features like machine learning, analytics, and real-time actionable audio and visual feedback, among other enhancements. For instance, in June 2022, Noise has introduced its eyewear, the Noise i1. This eyewear can connect to smartwatches via Bluetooth, offering wireless music streaming and voice assistance. The Noise i1 allows users to answer or decline phone calls, control music playback, and activate the voice assistant on their phone.
By type, smartwatches was the highest revenue-grossing segment in the global wearable AI market in 2023 owing to the growing demand for wireless fitness & sports devices, surge in consumer health consciousness, rising significance of interconnected devices is evident across a multitude of industries, increasing need for a connected ecosystem, and growing introduction of advanced devices. For instance, in September 2022, Apple, based in the United States, has unveiled the Apple Smart Watch Series 8. This latest Apple Watch Series 8 offers temperature sensing for insights into women's health, Car Crash Detection, and sleep stage tracking to help users better understand their sleep patterns. Additionally, smart earwear is predicted to grow at fastest CAGR during the forecast period owing to the remote workers are increasingly upgrading their headphones for video calls, and millennials and gen Z are showing an uptick in the acquisition of AI-enabled headphones.
By component, sensors was the highest revenue-grossing segment in the global wearable AI market in 2023 owing to the capability to monitor & measure the user's performance & activity and increasing number of health & fitness monitoring applications available. Additionally, display is predicted to grow at fastest CAGR during the forecast period owing to the dominance of smartwatches over the entire wearable market, growing awareness among consumers about the benefits of OLED technology featuring better viewing angle, excellent contrast, and refresh rates, and rising introduction of cutting-edge technology. For instance, in July 2023, The Humane AI Pin is a wearable projector that can be attached to clothing and serves as a non-physical smartphone by projecting apps, calls, and voice assistance onto hands or surfaces. It was created by a team led by Imran Chaudhri, a former Apple design director, and is powered by artificial intelligence. The Humane AI Pin showcased its capabilities at TED2023 in Vancouver, Canada, providing a sneak peek into its functionality.
By operations, on-device AI was the highest revenue-grossing segment in the global wearable AI market in 2023 owing to the efficiency & high-performance operations, rising need for rapid computing, reduced reliance on cloud-based AI for critical operations, and increasing demand for low-latency devices. Additionally, cloud-based AI is predicted to grow at fastest CAGR during the forecast period. The broader adoption of cloud-based AI in wearables is primarily driven by its ease of use. While cloud-based AI may not offer the same real-time response as on-device AI, it remains popular due to its cost-efficiency. Additionally, the integration of high-performance processors and continuous software enhancements in cloud-based AI makes it a reliable and user-friendly choice for wearable devices. For instance, in September 2022, Google Cloud in the United States and Fitbit Health Solutions in the United States have jointly introduced the Device Connect for Fitbit solution. This initiative is designed to provide healthcare organizations with a comprehensive perspective on patients beyond clinical settings by leveraging data collected from wearable devices.
By application, consumer electronics was the highest revenue-grossing segment in the global wearable AI market in 2023 owing to the growing consumer demand for smart wearables that can monitor & track various health metrics & vitals. Consumer wearable electronics encompass a variety of smart wearables designed for fitness, sports, entertainment, and multimedia purposes. These wearable technologies are commonly utilized to monitor daily activities and help individuals achieve their personal health objectives. For instance, in May 2022, Samsung Electronics from South Korea and Google from the United States have collaborated to create a unified Wear OS platform that seamlessly integrates with Android devices. This platform incorporates Google Play, offering users access to a range of popular apps and services, including Google Maps, Google Pay, and YouTube Music. As a result, Galaxy Watch4 users can now download Google Assistant on their devices, allowing them to enjoy fast, natural voice interactions, quick answers to questions, and on-the-go assistance. Additionally, healthcare is predicted to grow at fastest CAGR during the forecast period owing to the rising customer concerns related to fitness & health and increasing prevalence of obesity & other heart-related issues worldwide is leading to a greater adoption of fitness trackers & smartwatches.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in investment by private market players, rising supportive government initiatives for the adoption of AI technology, increasing technological advancements, and growing collaborations within key market players. For instance, in May 2022, IBM has announced a strategic collaboration agreement with Amazon Web Services (AWS). This partnership allows IBM to offer a range of its software products as services on the AWS marketplace. The collaboration involves both companies making investments to enhance the utilization of IBM's services and their integration with AWS, benefiting businesses and customers. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising collaborations within market players, surge in government initiatives for the use of AI wearables for contactless payments, and increasing launch of innovative products. For instance, in October 2023, Motorola has introduced its Adaptive Display Concept, featuring groundbreaking artificial intelligence and flexible hardware innovations, at the Lenovo Tech World 2023 event.
Segmentation: Wearable AI Market Report 2023 - 2034
Wearable AI Market Analysis & Forecast by Type 2023 - 2034 (Revenue USD Bn)
- Smart Earwear
- Smart Eyewear
- Smartwatches
- Others
Wearable AI Market Analysis & Forecast by Component 2023 - 2034 (Revenue USD Bn)
- Sensors
- Connectivity IC
- Processor
- Display
Wearable AI Market Analysis & Forecast by Operations 2023 - 2034 (Revenue USD Bn)
- Cloud-based AI
- On-device AI
Wearable AI Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Healthcare
- Automotive
- Consumer Electronics
- Media & Entertainment
- Military & Defence
- Others
Wearable AI Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Wearable AI Market: Type Estimates & Trend Analysis
8. Wearable AI Market: Component Estimates & Trend Analysis
9. Wearable AI Market: Operations Estimates & Trend Analysis
10. Wearable AI Market: Application Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Wearable AI Market
13. Europe Global Wearable AI Market
14. Asia Pacific Global Wearable AI Market
15. Latin America Global Wearable AI Market
16. MEA Global Wearable AI Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Huawei Technologies Co. Ltd.
- Motorola Solutions Inc.
- Amazon.com Inc.
- Google Inc.
- IBM
- Apple Inc.
- Samsung Electronics Co. Ltd.
- Fitbit Inc.
- Sony Corporation
- Garmin Ltd.
- TomTom International B.V.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 27.61 Billion |
| Forecasted Market Value ( USD | $ 492.31 Billion |
| Compound Annual Growth Rate | 29.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
