Wearable AI Market Analysis

Wearable AI Market Analysis

The smartwatches & fitness bands market is expected to grow at a CAGR of above 20% over the forecast timespan due to the rising efforts by technology companies for the development of smart analysis technologies including real-time health status analysis. The growing smartphone penetration coupled with fast connectivity is driving the adoption of smartwatches and fitness bands. The technology companies present in the market are partnering with luxury brands to provide high-end watches which provide users with enhanced insights into their health and access to controls without relying on smartphones. 
 

The gaming application segment is estimated to hold a market share of around 2% by 2025 due to the rising usage of Augmented Reality (AR) and Virtual Reality (VR) in the gaming software console. The smart wearable device manufacturers are leveraging on various next-generation technologies in their product offerings such as interactive graphics to enhance the game’s entertainment quotient. The demand for gaming wearables is rising sharply as the applications developed for wearable devices have the capability to integrate motion sensing and gesture tracking to improve game experience.
 

The North America wearable AI market is projected to hold a dominant market share of around 35% by 2025 due to the growing popularity of wearable technologies in the countries including the U.S. and Canada. For instance, the Canadian Medical Association (CMA) is providing physicians with assistance in prescribing wearable technology in the form of policy guidelines. The CMA introduced Guiding Principles for Physicians Recommending Mobile Health Applications to Patients in May 2015, providing information to physicians about mobile health applications. Other factors driving market growth are smartphone penetration, advanced connectivity infrastructure, and the rapid usage of smart wearables in the healthcare sector.