In a world of venture capital, it’s important to note the distinction between how well-funded a tech industry is and how successful the product becomes. Though certain devices and technologies may take a while to catch on — and there’s even a chance they never will — they’ll enjoy plenty of capital in the meantime. Here are the latest reports on the state of the market for drones as well as for AI wearables.
Drone Software Will Be a 12.33-Billion-Dollar Industry by 2020
According to a recent report, the drone software market was estimated to be at $2.85 billion as of 2016, with projections putting the market’s worth at $12.33 billion by 2022. One big reason: Military investment. From the report: Currently, North America leads the drone software market.
The Wearable Market Will Grow 376 Percent in 2017
Thanks to the infusion of AI-powered devices into the wearables market, the entire industry is expected to grow by a massive 376 percent this year, reaching 60 million units sold. Market research firm Counterpoint Research offers this information in a new report. Here’s some of the reasons why they predict such a sharp rise in a currently weak market, according to a breakdown by tech.firstpost.com: Will the expected impact of drone software and AI actually land as the analysts predict? We’ll continue following these trends through 2017. Smartwatches with AI will contribute to 42 per cent of the market. Activity trackers will witness a growth of 545 per cent and will contribute to four per cent of the market.”
