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Wearable AI market to cross $180bn frontier by 2025

The Wearable AI Market is set to grow from its current market value of more than $35bn to over $180bn by 2025; as reported in the latest study by Global Market Insights. The explosive growth of smartwatches has been the primary factor propelling the wearable AI market. Continuous improvements in the design and functionality along with its availability at lower price increased its adoption among consumers.

wireless.electronicspecifier.com, Nov. 05, 2019 – 

Specifically, the introduction of LTE connectivity feature in smartwatches has provided customers with an alternative to bulky smartphones. Moreover, the convenience provided by smartwatches is promoting its usage among consumers across the globe.

The technological advancement in miniaturised electronics and mobile access to computational power is propelling the growth of the wearable AI industry. The advances led to the development of various advanced wearable sensory hardware offering minimally intrusive health monitoring platform for individual health service. This has provided consumers with a means to improve early stage detection of diseases along with reducing the overall costs associated with more intrusive standard diagnostic services.

The increasing data security concern regarding smart wearable devices is hindering the growth of the market as most of the smart wearable devices lack basic security mechanism. Moreover, high production costs and limited battery concerns are restraining its adoption among consumers.

The smartwatches and fitness bands market has dominated the wearable AI market with a market share of over 85% in 2018. Smartwatches allow users to track various activities such as heart rate, steps covered during the day, and calories burnt. Smartwatches are becoming increasingly popular among consumers, allowing consumers to make and receive calls and manage various notifications remotely.

The rising adoption of smartphones coupled with fast internet connectivity is driving the growth of the smartwatches and fitness bands market. The smartwatches and fitness bands market is currently dominated by large smartphone players, such as Apple, Samsung, and Xiaomi, which are leveraging on their global distribution network to increase their presence in the market.

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