Wearable AI Device Market Regional Analysis

In terms of revenue, North America held the largest global Wearable AI Device market share in 2021, due to substantial investments made by private companies and government initiatives that supported the use of AI technology. In response to the lack of ventilators required to treat critically ill patients in hospitals and medical facilities worldwide, Fitbit unveiled the Fitbit Flow, a wearable AI device, in June 2020.

When traditional ventilators, which are more expensive, are unavailable, the equipment was designed to serve as an alternative. Similarly, in August 2020, Amazon announced that its flagship fitness tracker, the Halo, would be available in the United States. The Halo is a smart fitness tracker that tracks a wearer's mood through voice and scans their body to measure and analyze body fat.

Due to collaborations, high private investment, and government initiatives to use AI wearables for contactless payments, Asia Pacific is expected to grow at the fastest rate over the forecast period. For instance, Monarch Technologies and Canna Group LLC formed a partnership in 2021 to launch Helox, a contactless, cashless payment platform for the cannabis industry. It provides an easy method for accepting payments.