North-American Wearable AI Market Size, Opportunity, Share & Forecast 2019-2025
Posted by shibaomrglobal on February 19th, 2020
The North American Wearable AI market is estimated to grow significantly at a CAGR of over 28% during the forecast period. The North American market for wearable AI includes the analysis of two major countries; the US and Canada. The factors that are contributing significantly to the market growth include R&D and high expenditure by the government as well as private organizations in AI technology. The region has well-developed ICT infrastructure and has witnessed a huge adoption of a large number of connected devices. The presence of major AI players such as Microsoft, IBM, and Google in North America further gives a boost to the growth of the market in the region. Moreover, high internet penetration is one of the major factors that is augmenting market growth in North America.
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Canada is a promising market for the wearable AI market owing to increasing government expenditure and the penetration of AI technology in the automotive, healthcare and IT sector. The government is adopting several strategies and collaborations for the improvement of AI technology. In March 2017, the Canadian government introduced the .9 million Pan-Canadian AI Strategy in collaboration with three newly established AI institutes – the Alberta Machine Intelligence Institute (AMII) in Edmonton, Mila in Montreal and the Vector Institute in Toronto.
The market is segmented on the basis of product type and application. Based on the product type, the market is segmented into smartwatches and fitness bands, eyewear, earwear, and others. Earwear segment is estimated to grow at a significant CAGR during the forecast period. The segmental growth is attributed to the growing manufacturers' interest in integrating advanced AI technology to earwear devices. Apple’s AirPods and Google’s pixel buds are some of the AI-enabled earwear that is currently popular in the market. Further, on the basis of application, the market is segmented into consumer electronics, gaming, enterprise, and others.
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North American Wearable AI Market-Segmentation
By Product Type
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Joined: June 17th, 2019
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