According to Counterpoint Research firm, the Cupertino-based Apple will have 78 percent market share in Artificial Intellience (AI) based hearables in 2017.
The study says that AI powered wearables will grow 376 percent annually in 2017 to reach 60 million units, while hearables will contribute to 50 per cent of the AI powered wearables and this will be the fastest growing category with a growth of over 2500 percent annually.
Commenting on the analysis, Parv Sharma, Research Associate said "Wearables haven't 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. However, the integration of Artificial Intelligence (AI) into the wearables will change how we interact with or use wearables. AI will not only enhance the user experience to drive higher usage of wearables but also will make wearables smarter and intelligent to help us achieve more."
"Smartwatches with AI will contribute to 42 percent of the market," study added.
Counterpoint Analyst Karn Chauhan added "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."
The report also says that activity trackers with AI will witness a growth of 545 percent in 2017 and will contribute to 4 percent of the total AI based wearable market and other wearable devices like Head Mounted Displays (HMD), VR Headsets will also be integrated with AI in 2017 but will remain a niche market.
"The growth for this category will be driven by proliferation of Amazon's Alexa into third party hardware from smartwatches such as Martian and hearables such as ONvocal. Henceforth, it is a natural path for other competitors to integrate their AI solutions across their own as well as third party wearables," Karn added.