The European Wearable AI market is estimated to grow significantly at a CAGR of 28.3% during the forecast period. The increasing proliferation of advanced technologies such as high penetration of 5G smartphones and IoT in Europe is one of the key factors to drive the growth of the wearable AI market. Smartphones are widely used for gathering and analysis of data collected from wearable devices and Europe has taken significant steps for leading global developments towards this strategic technology. The next generations of the communication systems including smartphones are designed to provide virtually ubiquitous, ultra-high bandwidth, connectivity to the individual users and to the connected objects.
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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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European Wearable AI Market Segmentation
By Product Type
• Smartwatches and Fitness Bands
• Consumer Electronics
• Rest of Europe
• AiServe Technologies GmbH
• Apple, Inc.
• Garmin Ltd.
• GN Store Nord A/S
• Google LLC
• Intel Corp.
• LG Electronics, Inc.
• Medopad Ltd.
• Microsoft Corp.
• Oracle Corp.
• Samsung Electronics Co. Ltd.
• Soter Analytics Pty Ltd.
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