Wearable AI Market

Wearable AI market is growing rapidly and is expected to continue to expand in the coming years. According to various industry reports, the wearable AI market is expected to reach $230 billion by 2033. It is rising at an impressive 27.6% CAGR from 2023 to 2033.

The increasing adoption of wearable devices, advancements in AI and machine learning technology, and growing demand for digital health and wellness solutions are some of the factors that are expected to contribute to growth. The internet of things enables machine-to-machine communication and cloud platform connectivity, allowing the usage of artificial intelligence in wearable devices.

Wearable AI includes intelligent devices such as smartwatches, smart earphones, smart eyeglasses, and others. Leading players such as Samsung, Apple, Sony, and others are using various techniques to develop and improve technology, increasing the demand for wearable AI.

According to a report by MarketsandMarkets, the global wearable AI market is expected to grow at a CAGR of 29.75% from 2021 to 2026, reaching a market size of $180.31 billion by 2026. Wearable AI devices are becoming increasingly sophisticated, with features such as voice recognition, natural language processing, and real-time health monitoring. These devices are being used in a variety of industries, including healthcare, sports, and entertainment, among others.

The global wearable AI market is growing at a rapid pace due to the increasing proliferation of advanced technologies such as AI and 5G smartphone penetrations. Smartphones are widely utilized for data collection and processing from wearable devices. The rapid rise of the smartphone market has accelerated the development of Android and IoT-enabled and user-friendly wearable device applications.

The Indian government has also been promoting the use of wearable technology in healthcare, with initiatives such as the National Health Stack and the National Digital Health Blueprint. These initiatives aim to promote the adoption of digital health solutions, including wearable devices, and are expected to further drive the growth of the wearable AI market in India.

Moreover, increasing concerns about various chronic diseases are pushing the use of wearable gadgets such as fitness trackers, body monitors, smartwatches, and others, which provides real-time information on overall health problems as well as multimodal sentiment analysis.

The future of the wearable AI market looks bright, and it will be interesting to see how this technology develops and evolves in the years to come.

Dr. Deepak Kumar Sahu, President & CEO, VARINDIA