Wearable AI Market to be Worth $166.47 Billion by 2030: Grand View Research, Inc.
SAN FRANCISCO, Oct. 6, 2022 /PRNewswire/ -- The global wearable AI market size is expected to reach USD 166.47 billion by 2030, based on a new report by Grand View Research, Inc., expanding at a CAGR of 29.3% from 2022 to 2030. The continuous research and development by key players are driving the market in industry verticals, such as healthcare, automotive, media and entertainment, military and defense, and consumer electronics. For instance, in June 2020, Fitbit announced Fitbit Flow, in response to the lack of ventilators in hospitals and medical facilities around the world that are required to treat critically ill patients. The equipment is intended to serve as an alternative to more expensive traditional ventilators when they are not available.
Read full market research report for more Insights, "Wearable AI Market Size, Share & Trends Analysis Report By Type (Smartwatches, Smart Eyewear, Smart Earwear), By Application, By Operations, By Component, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Wearable AI Market Growth & Trends
Wearable AI devices are electronic products with advanced technologies incorporated with artificial intelligence with the ability to execute intelligent operations that are manufactured to be worn on the user's body. The COVID-19 pandmic had a moderate impact on the market for wearable AI. The lockdown imposed in various countries had a negative impact on the supply chain and therefore the availability of products to the consumers. Additionally, the pandemic had a positive impact on the medical AI wearable segment.
The wearable technologies assisted in the COVID-19 pandemic and numerous wearable manufacturers started modifying their products to help with the early detection of COVID-19. Algorithms for measuring coughing and other respiratory activities were developed. This enabled less affected individuals to be monitored remotely, which eased the burden on hospitals. Many companies in the market focused on high investment in R&D for incorporating technologies in the wearables to track COVID-19. For instance, Masimo SafetyNet, a disposable fingertip attachment worn on a wearable bracelet, helped in tracking a patient's blood oxygen levels, breathing rate, and pulse both inside and outside of a hospital setting.
Wearable AI Market Segmentation
Grand View Research has segmented the global wearable AI market based on type, application, operations, component, and region:
Wearable AI Market - Type Outlook (Revenue, USD Million, 2017 - 2030)
Wearable AI Market - Application Outlook (Revenue, USD Million, 2017 - 2030)
Wearable AI Market - Operations Outlook (Revenue, USD Million, 2017 - 2030)
Wearable AI Market - Component Outlook (Revenue, USD Million, 2017 - 2030)
Wearable AI Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)
List of Key Players of Wearable AI Market
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
SOURCE Grand View Research, Inc
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