Currently, the soaring demand for virtual reality (VR) headsets has become a key trend in the wearable AI devices market. The use of VR headsets has increased in recent years across the globe, due to the rising penetration of smartphones and the surging popularity of cloud and mobile gaming. To keep up with the growing video games industry, the market players are launching new and improved VR headsets to offer the best visual experience and better sound quality, thereby, enhancing the overall gaming experience for the customers.
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In recent years, the market players have actively focused on the development and launch of new products, with emphasis on AI-supported wearable devices for tracking fitness activities. For example, in October 2018, Garmin Ltd. introduced Instinct, a smartwatch featuring a barometric altimeter, and global positioning system (GPS), GALILEO, and GLONASS satellite navigation capabilities. Moreover, the built-in wrist-based heart rate sensors of Instinct enable the customer to track calories burnt, steps take, distance travelled, and stress levels.
In 2018, North America accounted for the largest share in the wearable AI devices market, due to the presence of leading consumer electronics companies, providing cost-effective advanced products; surging investments in technological innovations to widen the application area of AI in wearable devices in the healthcare, gaming, and consumer electronics sectors; and high per capita income of people in the region.
Whereas, the Asia-Pacific (APAC) market will register the fastest growth during the forecast period, on account of the increasing application of AI technology in wearables available in the region. Thus, the surging focus on technologically advanced fitness products will amplify the adoption of wearable AI devices, globally, in the coming years.
