Market Snapshot:
Industrial wearable devices are designed to improve workplace productivity, safety, and efficiency in different sectors. Depending on the user's needs, these devices collect data in real-time, track activities, provide alerts, and provide a customized experience. These devices can also be linked to enterprise systems.
Highlights from Industrial Wearables Market Study
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 12.0% |
The key Manufacturers profiled in the report are Microsoft Corporation (United States), Google Inc. (United States), Amazon Inc. (United States), Thales Group (France), Apple Inc. (United States), Fujitsu Ltd. (Japan), Honeywell International Inc. (United States), Tesco PLC (United Kingdom), Fitbit, Inc. (United States) and Fossil Group, Inc. (United States). Additionally, other players that are part of this comprehensive study are HTC Corporation (Taiwan), Olympus Corporation (Japan), Seiko Epson Corporation (Japan), Samsung Electronics Co., Ltd. (South Korea), Vuzix (United States), Magic Leap, Inc. (United States), Oculus VR (United States), AsusTek Computer Inc. (Taiwan) and RealWear (United States).
Geographic Breakdown and Segment Analysis
The Global Industrial Wearables market presents a comprehensive analysis of the Industrial Wearables market by product type (Smart Glasses, Smart Watches, Headsets, Suits and Others (Bands, Gloves)), by end-user/application (Manufacturing, Automotive, Aerospace & Defense, Logistics & Supply Chain, Mining, Oil & Gas and Others), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Industrial Wearables industry. Investors and Manufacturers can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Industrial Wearables market
Analyst at AMA have segmented the market study of Global Industrial Wearables market by Type, Application and Region.
Influencing Trend:
Augmented Reality and Virtual Reality Applications for Designing or Application Instructions
Market Growth Drivers:
Organizations’ Ability to Improve Productivity and Efficiency without Having an Adverse Effect on Safety and Real-Time Alerts Allow For Immediate Intervention and Worker Safety
Challenges:
Dearth of Skills and Expertise to Manage Connected Devices
Restraints:
Data Security and Privacy Issues
Opportunities:
Growing Research Activities in the Field of Industry 4.0, Increasing Number of Start-ups in Industrial Wearable’s and Wearable Industrial Internet of Things
Market Developments Activities:
In May 2023, Medtronic plc announced it has entered into a set of definitive agreements to acquire EOFlow Co. Ltd. The addition of EOFlow, together with Medtronic's Meal Detection Technology algorithm and next-generation continuous glucose monitor (CGM), is expected to expand the company's ability to address the needs of more individuals with diabetes, no matter where they are in their treatment journey or preference for how they want their insulin delivered.
In January 2023, Titan welcomes New Year with the launch of its latest smartwatch, Titan Talk S . With a rich heritage in craftsmanship and expertise in innovation, Titan unveils Talk S that addresses the evolving consumer needs, making way for a series of premium, fashionable and innovative products being planned up through the year. Designed with a large 1.78” AMOLED display, Titan Talk S is curated for the whirlwind millennials by offering all in one dial.
The Global Industrial Wearables is a fragmented market due to the presence of various players. The players are focusing on investing more in research & development activities and investing in it. These will boost new launches and enhance their market presence. The companies are also planning n strategic activities like mergers, acquisitions, and partnerships, which will help sustain them in the market and maintain their competitive edge.
Key Target Audience
Industrial Wearables Manufacturers, Components Suppliers, Traders/Exporters/Importers, End-Use Industry and Others