Children with muscular diseases could have their strength boosted by a new wearable device designed by Royal College of Art graduate Xinyang Tan..
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The rising demand for wearable devices
The demand for wearable devices has been on the rise and grew 9.9% during the third quarter of 2021 (3Q21) reaching 138.4 million units, which has increased to 26.5 percent, Unsurprisingly, the shipments for earphones, including the TWS earbuds, increased 26.5 percent, according to new data from the International Data Corporation (IDC). For the first time, the shipments of smartwatches surpassed the shipments of fitness trackers. With this, smartwatches have now become the second-biggest category in wearable devices, accounting for a 4.3 percent increase. Although the pandemic has driven interest in health and fitness tracking, wrist-worn wearables such as watches and wristbands faced challenges during the quarter as these devices were not immune to the supply constraints and shifting demand brought about by the pandemic. While the category has recently been led by Xiaomi's low-cost bands, the company was dethroned by Apple and Huawei in 3Q21 as they tied for first place in the wrist-worn segment. The reason behind the increased shipments of smartwatches is being said to be due to the users’ demand for more powerful features and functions and thus they are gradually shifting towards smartwatches. Also, there isn’t a huge price difference between a smartwatch and a fitness tracker, which is also a factor for the change.
Demand has been slowly shifting away from wristbands towards watches as consumers increasingly want a more capable device as the gap in pricing narrows,' said Jitesh Ubrani, research manager for IDC Mobility and Consumer Device Trackers. 'The number of watches sold for under $100 is now equal to wristbands, which have dominated this price band in the past. Growth amongst Indian and Chinese brands has been leading the low-end watch space while Apple, Huawei, and Samsung maintain a hold at the high-end. Coming to the companies, Apple is
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Worldwide wearable band shipments dropped to four percent to 41.7 million units in Q1 2022, as per the estimate of Canalys. At the same time, the shift from bands to watches continues. Wristwatches, consisting of basic watches and smartwatches, accounted for 76.6% of all wearable band shipments in the quarter, growth of 15% to 32.0 million units. Basic bands suffered a 37% decline, a sixth consecutive fall since Q4 2020. Basic band shipments dipped below 10 million for the first time after peaking at 27.9 million in Q4 2019. The increase in watch shipments helped offset the basic band drop but still resulted in a decline in the overall wearable band market. The rise of basic watches accelerated the shift from bands to watches. Basic watches run rudimentary real-time operating systems but lack support for third-party apps, as opposed to smartwatches, which run fully-fledged operating systems with third-party app support. “Consumers are favoring watches over bands. With bigger displays, richer features and longer battery life, they believe watches are better able to fulfill their health-tracking and digital lifestyle needs. “Basic watches are positioned as an affordable step-up from basic bands, suitable for price-conscious consumers with growing expectations as to what wearables can do.”
The consumer survey report states that, the survey conducted in April 2022, out of 4,000 respondents from four Western European markets, 34% said they intended to buy a smartwatch in the next 12 months, against 17% who would choose a fitness band. Smartwatches stood out as the most popular companion device to smartphones for Western European consumers. The future consumer demand will shift away from basic bands to watches, potentially affecting vendors such as Xiaomi and Fitbit, which are still shipping basic bands in significant numbers. Apple maintained its lead in the wristwatch segment, driven by strong demand for the Watch Series 7. “Despite growing 53%, Samsung was bea
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#Globalwearabletechnology shipments are growing fast. Advances in technology have seen wristwatches and smartwatches take over from basic bands. Vendors are attempting a big generational leap in smartwatch technologies, striving to improve their products’ user interfaces, battery life, charging and types of sensors, to broaden their ecosystems of health and fitness services.
The dynamic shift in the wearable market is due to several factors. One of the primary drivers of this shift is the increasing popularity and adoption of wearable technology, including smartwatches. As more people are becoming interested in tracking their health and fitness, staying connected on-the-go, and accessing other features like mobile payments, smartwatches are becoming an increasingly important part of the technology landscape.
Another factor contributing to the shift in the smartwatch market is the emergence of new players and technologies. While companies like Apple and Samsung have dominated the market in recent years, there are now a growing number of competitors offering innovative new features and designs. For example, many new smartwatches are incorporating voice assistants, health monitoring sensors, and even flexible displays that can be curved or folded.
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Wearable AI market is growing rapidly and is expected to continue to expand in the coming years. According to various industry reports, the wearable AI market is expected to reach $230 billion by 2033. It is rising at an impressive 27.6% CAGR from 2023 to 2033.
The increasing adoption of wearable devices, advancements in AI and machine learning technology, and growing demand for digital health and wellness solutions are some of the factors that are expected to contribute to growth. The internet of things enables machine-to-machine communication and cloud platform connectivity, allowing the usage of artificial intelligence in wearable devices.
Wearable AI includes intelligent devices such as smartwatches, smart earphones, smart eyeglasses, and others. Leading players such as Samsung, Apple, Sony, and others are using various techniques to develop and improve technology, increasing the demand for wearable AI.
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