A recent report predicts that Artificial Intelligence is set to help the wearables market grow 376% in 2017. Outlining how AI powered wearables will revive the “stagnant wearables market”, the report foresees a future where AI wearables will sell around 60 million units this year alone.
I think that this is good news. We are all definitely ready for the next step in the wearables evolution. And if AI is the direction that the wearables industry is moving then I am sure that can only be a good thing.
“Wearables have not seen the expected momentum so far because they have struggled on the lines of a stronger human computer interaction.”
Conducted by Counterpoint Research, the report confirmed, among other things, that “AI-powered hearables” will also be instrumental in driving major growth within the wearables sector. On their findings, Research Associate Parv Sharma said, “Wearables have not seen the expected momentum so far because they have struggled on the lines of a stronger human computer interaction (HCI) which can enable powerful experiences.” Sharma continues,“AI will not only enhance the user experience to drive higher usage of wearables but will also make wearables smarter and intelligent to help us achieve more.”
We are excited that it has been revealed that “hearables” will contribute to 50% of the AI-powered wearables in 2017. This is an area that FashNerd.com has explored for a couple of years now. We think that this is a market, that when fully combined with fashion, will appeal to the mainstream consumer. Counterpoint Research predicts that hearables will be the fastest growing category, with a growth of over 2,500% annually. They also predict that when it comes to AI-based hearables, Apple will have 78 per cent market share in 2017.
“AI will not only enhance the user experience to drive higher usage of wearables but will also make wearables smarter and intelligent to help us achieve more.”
Continuing on with the numbers, smartwatches with AI will contribute to 42 per cent of the market. Activity trackers will witness a growth of 545 per cent and will surprisingly will only contribute to four per cent of the market.
Before concluding their report, wearable devices for the niche market like Head Mounted Displays (HMD) and virtual reality (VR) Headsets were also explored. On their findings Counterpoint Analyst Karn Chauhan shared, “With AI integration in wearables, we are entering ‘wearable 2.0’ era. Major growth in the segment is driven by the hearable market, which includes devices like Apple AirPods, Beats and other innovative products from lesser known brands like Bragi Dash.”