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Global Wearable AI Devices Market Predicted to Exhibit Over 25.0% CAGR During 2019–2024

The global wearable AI devices market attained a valuation of $11,182.8 million in 2018 and is predicted to generate a revenue of $49,240.6 million by 2024. As per the estimates of the market research firm, P&S Intelligence, the market will demonstrate a CAGR of 29.0% between 2019 and 2024. The surging disposable income of people, the rising consumer preference for next-generation wearable devices, and the growing usage of AI-integrated wearable devices for healthcare applications are the major market growth drivers.

The soaring usage of AI-supported wearable devices for healthcare purposes, on account of the increasing consumer focus on healthy lifestyles and the growing public awareness about AI-integrated wearables and the high convenience associated with these devices, is one of the major factors driving the progress of the wearable AI devices market.



These devices allow users to monitor and track their sleeping patterns and diets and help them make adequate changes in their daily routines in order to improve their health and fitness. Depending on product, the wearable AI devices market is divided into eyewear, wristwear, and earwear.

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Out of these, the wristwear category recorded the highest growth in the market in the past years. This was because of the high requirement for wristwear equipped with various AI functionalities and features such as sleep tracking, personal voice assistance, and heart rate monitoring. This category is further divided into fitness band and smartwatch categories.

Between the two, the fitness band division is predicted to register faster growth in the future years. When deployment is taken into consideration, the wearable AI devices market is categorized into on-premises and cloud. Of these, the cloud category is predicted to demonstrate faster growth in the market in the coming years. This is credited to the growing requirement for storing the data created in real-time and synchronizing this data in various smart devices.

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