The market segment for artificial intelligence (AI)-powered wearables will grow 376 percent annually in 2017 to reach 60 million units, according to a new Counterpoint Technology Market Research report.
Indeed, the introduction of artificial intelligence in wearables like smartwatches and “hearables,” or technically advanced, electronic in-ear-devices, will drive growth for the wearable segment in 2017, officials of the report said.
Commenting on the analysis, Parv Sharma, research associate said, “Wearables haven’t seen the expected momentum so far because they have struggled on the lines of a stronger human computer interaction, which can enable powerful experiences. However, the integration of AI into the wearables will change how we interact with or use wearables. AI will not only enhance the user experience to drive higher usage of wearables but also will make wearables smarter and intelligent to help us achieve more.”
According to the report, the market summary includes: hearables will contribute to 50 percent of the AI-powered wearables in 2017 and will be the fastest growing category with a growth of over 2,500 percent annually; smartwatches with AI will contribute to 42 percent of the market and will see AI being adopted by key players in the segment; in 2017, Apple will have 78 percent market share in AI-based hearables; and activity trackers with AI will witness a growth of 545 percent in 2017 and will contribute to 4 percent of the total AI-based wearable market.
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