The global wearable AI devices market attained a valuation of $11,182.8 million in 2018 and is predicted to generate a revenue of $49,240.6 million by 2024. As per the estimates of the market research firm, P&S Intelligence, the market will demonstrate a CAGR of 29.0% between 2019 and 2024. The surging disposable income of people, the rising consumer preference for next-generation wearable devices, and the growing usage of AI-integrated wearable devices for healthcare applications are the major market growth drivers.

The soaring usage of AI-supported wearable devices for healthcare purposes, on account of the increasing consumer focus on healthy lifestyles and the growing public awareness about AI-integrated wearables and the high convenience associated with these devices, is one of the major factors driving the progress of the market. These devices allow users to monitor and track their sleeping patterns and diets and help them make adequate changes in their daily routines in order to improve their health and fitness. 

Depending on product, the wearable AI devices market is divided into eyewear, wristwear, and earwear. Out of these, the wristwear category recorded the highest growth in the market in the past years. This was because of the high requirement for wristwear equipped with various AI functionalities and features such as sleep tracking, personal voice assistance, and heart rate monitoring. This category is further divided into fitness band and smartwatch categories.

Between the two, the fitness band division is predicted to register faster growth in the future years. When deployment is taken into consideration, the wearable AI devices market is categorized into on-premises and cloud. Of these, the cloud category is predicted to demonstrate faster growth in the market in the coming years. This is credited to the growing requirement for storing the data created in real-time and synchronizing this data in various smart devices. 

Globally, the wearable AI devices market recorded the highest growth in North America in the past years, on account of the high per capita income of the people, the existence of several consumer electronics firms offering technologically advanced products at affordable prices, and the huge investments made in technological advancements and innovations for broadening the scope of various AI applications in wearable devices in the healthcare, gaming, and consumer electronics industries in the region.

In the upcoming years, the wearable AI devices market is predicted to demonstrate the fastest growth in Asia-Pacific (APAC). This will be a result of the soaring requirement for wearable devices, especially in the regional countries such as India and China, and the increasing applications of the AI technology in various wearable devices manufactured in the region. One of the major trends currently being witnessed in the industry is the rising requirement for virtual reality (VR) headsets across the world. 

Therefore, it can be said with full confidence that the market will register huge expansion all over the world in the future years, mainly because of the growing usage of wearable AI devices in various applications pertaining to the gaming, consumer electronics, and healthcare industries.