Global Wearable AI Market Size to worth USD 370.5 Billion by 2033: Market Study Report

Global Wearable AI Market Size to worth USD 370.5 Billion by 2033

According to a research report published by Spherical Insights & Consulting, The Global Wearable AI Market Size is Expected to Grow from USD 27.5 Billion in 2023 to USD 370.5 Billion by 2033, at a CAGR of 29.70% during the forecast period 2023-2033.  

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Wearable AI Market Size, Share, and COVID-19 Impact Analysis, By Product (Smartwatches, Fitness Trackers, AR/VR Headsets, Wearable Cameras, Smart Earwear, and Smart Clothing & Footwear), By Operation (On-Device AI and Cloud-Based AI), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.    

Wearable AI refers to the technology that combines artificial intelligence (AI) with wearable devices to monitor and analyze a user’s data. It goes beyond fitness trackers and smartwatches. It is the combination of wearable technology and artificial intelligence to create intelligent devices that can track, evaluate, and react to the wearer's environment and personal information. The incorporation of wearable AI devices with VR and AR technologies is providing opportunities for the market players, especially in the gaming, training, and entertainment sectors. The seamless integration with smartphones and the Internet of Things (IoT), awareness about health & fitness among the general population, and technological advancements in wearables are driving the market. Further, the seamless integration with smartphones and the Internet of Things (IoT) along with the rising awareness about health and fitness is propelling the market growth. On the contrary, the limited battery life of wearable AI that affects device functionality and user experience is restraining the market growth.

The smartwatches segment is expected to dominate the market during the projected timeframe.

Based on the product, the wearable AI market is classified into smartwatches, fitness trackers, AR/VR headsets, wearable cameras, smart earwear, and smart clothing & footwear. Among these, the smartwatches segment is expected to dominate the market during the projected timeframe. The versatility and functioning, health & fitness tracking, and integration with smartphone ecosystems offered by smartwatch are propelling the market in the smartwatch segment.

The on-device AI segment dominated the wearable AI market with the largest market share in 2023.

Based on the operation, the wearable AI market is classified into on-device AI and cloud-based AI. Among these, the on-device AI segment dominated the wearable AI market with the largest market share in 2023. The increasing demand for instantaneous and privacy-centric processing is propelling the market in the on-device AI segment.

North America is estimated to hold the largest share of the wearable AI market over the forecast period.

North America is estimated to hold the largest share of the wearable AI market over the forecast period. The increased investment by the private players and supportive government initiatives for the adoption of AI technology are driving the regional market growth. The increased adoption rate of wearable AI devices across consumers in the region is anticipated to propel the market.

Asia Pacific is predicted to grow at the highest CAGR in the wearable AI market over the forecast period. The collaborations, high investment by private players, and government initiatives for the use of AI wearables for contactless payments are propelling the market. The region’s burgeoning middle-class population and focus on health & fitness are driving the market.

Company Profiling

Major key players in the global wearable AI market include Apple Inc., SAMSUNG, Alphabet Inc., Microsoft, Meta, Lenovo, Garmin Ltd., Amazon.com, Inc., Xiaomi, OPPO, Sony Corporation, Huawei device Co., Ltd., Vuzix, Epson America, Inc., Motorola Mobility LLC, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In January 2024, Xiaomi expanded its Redmi product lineup with the launch of Redmi Buds 5 and Redmi Buds 5 Pro true wireless earbuds globally.

• In October 2023, Alphabet’s Google launched Pixel 8 smartphones and a new smartwatch that integrates its artificial intelligence (AI) technology more deeply into the company’s key consumer gadgets.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the wearable AI market based on the below-mentioned segments:

Global Wearable AI Market, By Product

• Smartwatches
• Fitness Tracker
• AR/VR Headsets
• Wearable Cameras
• Smart Earwear
• Smart Clothing & Footwear

Global Wearable AI Market, By Operation

• On-Device AI
• Cloud-Based AI

Global Wearable AI Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa