The electronics that is manufactured to be worn on a consumer’s body with intelligent operation performing capabilities is termed as wearable AI. Wearable AI consists of intelligent devices such as smartwatches, smart earwears, smart eyewear, smart gloves and others. The wearable AI finds application in consumer electronics, healthcare, automotive, military & defense, media & entertainment, and others. Major players such as Samsung, Apple, Sony and others, adopt various strategies to develop and upgrade the technology that booststhe market demand.
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The factors such as growth in adoption of AI assistants, increased penetration of AI in the healthcare industry, and advancement of IoT and integration of wireless technology in wearable electronics, drive the market demand. Whereas, short life of smart wearables hampers the market growth. Further, AI assistance for animal and advancement in personal computing are expected to create opportunities for the growth of the market.
The development of various intelligent and advanced wearables for different purposes enhances the market demand. For instance, the new Apple Airpods Pro, offers active noise cancellation for immersive sound, transparency mode to hear what’s happening around, they are connected to the iPhone or Apple watch and uses virtual assistant Siri and others to provide various other intelligent features. Also, new developments such as, ODG R-9 at Osterhout Group powered by Qualcomm’s Snapdragon 835 SoC, paired with 6GB of RAM, it is one of the most feature packed smart eyewear increases the competition in the market.
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The wearable AI market is segmented on the basis of type, application, and region. Based on type, it is divided as smart watch, smart glasses, smart earwear, smart gloves, and others. Based on application, it is categorized as consumer electronics, healthcare, automotive, military & defense, media & entertainment, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players in the wearable AI market that are analyzed in the report are Amazon.com, Inc., Fitbit, Inc., Garmin Ltd., Google Inc., Huawei Technologies Co. Ltd., International Business Management Corporation (IBM), Motorola Mobility LLC, TomTom International B.V., Samsung Electronics Co. Ltd., and Sony Corporation. The key players adopt various key strategies for market growth such as product launch, product development, collaboration, partnership, and various other.
North America is leading the semiconductor and electronics market through an increasing number of collaborations and effective government policies. Semiconductor companies in the United States spend about one-fifth of their total revenue on research and development – among the highest rates in any industry. Throughout difficult economic times and through fluctuations in sales revenue, the industry has consistently prioritized R&D. In order to maintain the partnership, the federal government is funding research at sustainable levels. The industry will continue to drive economic growth and develop technologies that will advance the future.
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Impact Analysis of COVID-19
Semiconductor companies moved quickly to secure supply chains, protect their employees, and address other urgent concerns after the spread of COVID-19. In spite of the seriousness of the situation and the fact that many governments continue to impose physical distance requirements, semiconductor companies are now forward when the pandemic subsides and a new normal begins. As a result of COVID-19, many fundamental aspects of the sector have changed, including customer behavior, business revenue, and various features of corporate operations. Thus, some companies may unable to survive the crisis.
KEY MARKET SEGMENTS
o Float Switches
o Conductive Level Switches
o Vibrating Forks
o Optical Level
– Point Level Monitoring
o Vibrating (Tuning Fork)
o Float Switch
– Continuous Level Monitoring
o Radar (Microwave)
By End Use
– Aerospace & Defense
– Energy & Power
– North America
o Rest of Europe
o Rest of Asia-Pacific
o Latin America
o Middle East
Aim of the Report:
This study aims to determine the market size of various segments and countries with forecast values for the next ten years.
Within the regions and countries studied, the report covers both qualitative and quantitative aspects of the industry.
It also provides detailed information about the crucial aspects such as drivers & challenges that will influence the market’s future growth.
The report will also include investment opportunities in micro markets for stakeholders. In addition, an in-depth analysis of key players’ products and the competitive landscape.
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What aspects regarding the regional analysis Market are included in this report?
Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa region.
The report consists of the detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
The report offers detailed analysis of leading companies in the market across the globe.
It provides details of the major vendors involved in the Market including Key Players
A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and
the manufactured products is incorporated in the report.
The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter’s Five Force analysis.
The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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