About Internet Of Things Enabled Industrial Wearables
Industrial wearables with internet of things capabilities are gadgets aimed to improve worker productivity, efficiency, and safety in a variety of industries, including logistics, mining, manufacturing, and others. It gives real-time data to track activities and allows for a more personalised experience to better understand the organization's goals and users' needs. They've been created with certain industrial sectors in mind. Industrial wearables assist in the measurement of health parameters while working in potentially hazardous or dangerous environments. Furthermore, these gadgets can be connected to company systems that carry out specialised functions for their wearables. Global rising adoption of technological solutions due to increasing automation has led to significant growth in the IoT enabled industrial wearables market. North America is the largest market of the IoT enable industrial wearables.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Alphabet Inc. (United States), Fujitsu Ltd. (Japan), launc. (United States), Microsoft Corp. (United States), Samsung Electronics Co., Ltd. (South Korea), Daqri LLC (United States), Intellinium (France), Seiko Epson Corp. (Japan), RealWear Inc. (United States), Wearable Technologies AG (Germany) and Vuzix Corp. (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Internet Of Things Enabled Industrial Wearables market by and Region.
On the basis of geography, the market of Internet Of Things Enabled Industrial Wearables has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Direct will boost the Internet Of Things Enabled Industrial Wearables market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Device, the sub-segment i.e. Smart Bands will boost the Internet Of Things Enabled Industrial Wearables market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use, the sub-segment i.e. Automotive will boost the Internet Of Things Enabled Industrial Wearables market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Cases and Frames will boost the Internet Of Things Enabled Industrial Wearables market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Hand Mounted Wearable such as Smart Bands and Smart Watches Accounts for Largest Market Share
Market Growth Drivers:
Advancement in the Wearable Technology and Increasing Adoption of Technological Solutions by Industries for Better Efficiency
Challenges:
Less Awareness about the Technology of Industrial Wearables and their Potential Benefit on Productivity
Restraints:
High Cost of IoT Enabled Industrial Wearables
Opportunities:
Smart Eyewear such as Augmented Reality based Glasses can Revolutionize Manufacturing
Market Leaders and their expansionary development strategies
In 2021, ARK Investment Management LLC, a United States based investment management firm has announced acquisition of 773,400 shares in Vuzix Corporation, which value at USD 13.5 million. Vuzix Corporation specialises in the development and manufacturing of smart and augmented reality based glasses for the consumer, defense, and industrial markets. The investment was made through Ark investment management’s subsidiary Ark Next Generation Internet ETF.
In 2019, RealWear, Inc., a market leading firm specialised in production of wearable headset and tablet computers has announced acquisition of Kopin’s Golden-i Infinity Smart Screen. The acquisition will aid RealWear in developing new advanced wearable technology while improving its existing HMT line of products. Thus, consolidating its standing in the market.
Key Target Audience
Internet of Things Enabled Industrial Wearables Manufacturers, Suppliers and Distributors, Component Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.