Reports

Industrial Wearable Devices Market

Global Industrial Wearable Devices Market: By Product: Fitness Tracker, Smart Glasses, Smart Watch, Wearable Camera, Others; By Application; By End Use; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments;

Global Industrial Wearable Devices Market Outlook

The global industrial wearable devices market reached a value of about USD 2.16 billion in 2022. The industry is further expected to increase at a CAGR of nearly 9.5% between 2023 and 2028 to reach a value of about USD 3.72 billion by 2028. 

 

Industrial Wearable Devices Market

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North America is currently the leading region for the market, accounting for the majority of the market share. On the other hand, the Asia Pacific is projected to be one of the fastest-growing markets for industrial wearable devices due to factors like government initiatives including Made in China 2026, promoting the adoption of industrial IoT as well as smart manufacturing technologies, government aid for the adoption of advanced communications technologies like 5G, and the use of AR glasses as well as other wearables in automotive and other critical applications. The Chinese players' rising investments in AR technology are also likely to boost the Asia Pacific's industrial wearable devices market.

 

Properties and Applications

Wearable devices, also referred to as wearables, refer to gadgets that can be worn as clothes or accessories on the body. The major benefit these devices bring is their potential to connect to the internet as well as enable the sharing of data in real-time. The ubiquity of smartphones and internet access has resulted in the proliferation of wearable device technology both in the consumer and industrial markets over the last years. Specifically, in the industrial segment, these tools provide huge opportunities to reduce error rates, improve work efficiency, and improve workers' health. As a result, these tools are experiencing rapid adoption in various verticals from the retail to manufacturing industries.

 

Industrial Wearable Devices Market by End Use

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Based on the product, the market can be divided into the following:

They find wide applications in the following sectors:

  • Warehouse Management
  • Training and Simulation
  • Service and Maintenance
  • Others

The end-use segments in the industry can be segmented as follows:

  • Transport and Logistics
  • Retail
  • Manufacturing
  • Healthcare
  • Others

The regional markets for industrial wearable devices include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Industrial Wearable Devices Market by Region

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Market Analysis

Wearable devices include different sensors that can monitor data related to the vital signs, health, or position of the user. The growing R&D activities and incorporation of virtual reality as well as augmented reality in these apps have contributed to their use in applications ranging from educating new workers to recovery of motor functions. Keeping this in mind, companies in the market are developing wearables for market-specific applications. For example, for the healthcare sector, smart glasses are being created to promote expert communication, knowledge sharing as well as hands-free access to patient information. Similarly, businesses use safety alarms for workers working in dangerous conditions, including mines, building sites, and various manufacturing facilities. Several organizations often have exercise monitoring as part of their wellness services, where these devices have information about an employee's health status along with personalised health advice. This is expected to improve productivity and minimise the number of sick days. All these trends are together likely to boost the market growth.

 

Competitive Landscape 

The report gives a detailed analysis of the following companies in the global industrial wearable devices market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Apple Inc
  • Fitbit, Inc.
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product, Application, End Use, Region
Breakup by Product Fitness Tracker, Smart Glasses, Smart Watch, Wearable Camera, Others
Breakup by Application Warehouse Management, Training and Simulation, Service and Maintenance, Others
Breakup by End Use Transport and Logistics, Retail, Manufacturing, Healthcare, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Apple Inc, Fitbit, Inc., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Industrial Wearable Devices Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Industrial Wearable Devices Historical Market (2018-2022) 
    8.3    Global Industrial Wearable Devices Market Forecast (2023-2028)
    8.4    Global Industrial Wearable Devices Market by Product
        8.4.1    Fitness Tracker 
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Smart Glasses 
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Smart Watch
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
        8.4.4    Wearable Camera
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2018-2022)
            8.4.4.3    Forecast Trend (2023-2028)
        8.4.5    Others
    8.5    Global Industrial Wearable Devices Market by Application
        8.5.1    Warehouse Management  
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Training and Simulation 
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Service and Maintenance    
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022)
            8.5.3.3    Forecast Trend (2023-2028)
        8.5.4    Others
    8.6    Global Industrial Wearable Devices Market by End Use
        8.6.1    Transport and Logistics  
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Retail  
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Manufacturing    
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022)
            8.6.3.3    Forecast Trend (2023-2028)
        8.6.4    Healthcare  
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2018-2022)
            8.6.4.3    Forecast Trend (2023-2028)
        8.6.5    Others   
    8.7    Global Industrial Wearable Devices Market by Region
        8.7.1    North America
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022)
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Europe
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022)
            8.7.2.3    Forecast Trend (2023-2028)
        8.7.3    Asia Pacific
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022)
            8.7.3.3    Forecast Trend (2023-2028)
        8.7.4    Latin America
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2022)
            8.7.4.3    Forecast Trend (2023-2028)
        8.7.5    Middle East and Africa
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2018-2022)
            8.7.5.3    Forecast Trend (2023-2028)
9    North America Industrial Wearable Devices Market Analysis
    9.1    United States of America
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022)
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022)
        9.2.3    Forecast Trend (2023-2028)
10    Europe Industrial Wearable Devices Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022)
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022)
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022)
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022)
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Industrial Wearable Devices Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022)
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022)
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022)
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022)
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022)
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Industrial Wearable Devices Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022)
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022)
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022)
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Industrial Wearable Devices Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022)
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022)
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022)
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022)
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape
    16.1    Market Structure
    16.2    Company Profiles (*This list is only indicative. The report contains a more comprehensive list of players.)
        16.2.1    Apple Inc
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Fitbit, Inc.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Others
17    Key Trends and  Developments in the Market

 

List of Key Figures and Tables

1.    Global Industrial Wearable Devices Market: Key Industry Highlights, 2018 and 2028
2.    Global Industrial Wearable Devices Historical Market: Breakup by Product (USD Billion), 2018-2022
3.    Global Industrial Wearable Devices Market Forecast: Breakup by Product (USD Billion), 2023-2028
4.    Global Industrial Wearable Devices Historical Market: Breakup by Application (USD Billion), 2018-2022
5.    Global Industrial Wearable Devices Market Forecast: Breakup by Application (USD Billion), 2023-2028
6.    Global Industrial Wearable Devices Historical Market: Breakup by End Use (USD Billion), 2018-2022
7.    Global Industrial Wearable Devices Market Forecast: Breakup by End Use (USD Billion), 2023-2028
8.    Global Industrial Wearable Devices Historical Market: Breakup by Region (USD Billion), 2018-2022
9.    Global Industrial Wearable Devices Market Forecast: Breakup by Region (USD Billion), 2023-2028
10.    North America Industrial Wearable Devices Historical Market: Breakup by Country (USD Billion), 2018-2022
11.    North America Industrial Wearable Devices Market Forecast: Breakup by Country (USD Billion), 2023-2028
12.    Europe Industrial Wearable Devices Historical Market: Breakup by Country (USD Billion), 2018-2022
13.    Europe Industrial Wearable Devices Market Forecast: Breakup by Country (USD Billion), 2023-2028
14.    Asia Pacific Industrial Wearable Devices Historical Market: Breakup by Country (USD Billion), 2018-2022
15.    Asia Pacific Industrial Wearable Devices Market Forecast: Breakup by Country (USD Billion), 2023-2028
16.    Latin America Industrial Wearable Devices Historical Market: Breakup by Country (USD Billion), 2018-2022
17.    Latin America Industrial Wearable Devices Market Forecast: Breakup by Country (USD Billion), 2023-2028
18.    Middle East and Africa Industrial Wearable Devices Historical Market: Breakup by Country (USD Billion), 2018-2022
19.    Middle East and Africa Industrial Wearable Devices Market Forecast: Breakup by Country (USD Billion), 2023-2028
20.    Global Industrial Wearable Devices Market Structure

Key Questions Answered in the Report

What was the global market size in 2022?

In 2022, the global industrial wearable devices market attained a value of nearly USD 2.16 billion.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 9.5% between 2023 and 2028.

What is the forecast outlook of the market for 2023-2028?

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 3.72 billion by 2028.

What are the major industry drivers?

The major drivers of the industry, such as the growing R&D activities, incorporation of virtual reality as well as augmented reality in apps, rising disposable incomes, and rising demand from the end-user industries are expected to aid the market growth.

What are the key industry trends of the global industrial wearable devices market?

The key market trend guiding the growth of the industrial wearable devices market includes developing wearables for market-specific applications.

What are the major regional markets of industrial wearable devices, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with North America accounting for the largest share in the market.

What are the leading products of industrial wearable devices in the industry?

The leading products of industrial wearable devices in the industry are fitness tracker, smart glasses, smart watch, and wearable camera, among others.

What are the major applications of industrial wearable devices?

The major applications of industrial wearable devices are warehouse management, training and simulation, and service and maintenance, among others.

What are the significant end uses of industrial wearable devices?

The significant end uses of industrial wearable devices are in transport and logistics, retail, manufacturing, and healthcare sectors, among others.

Who are the key industry players, according to the report?

The major players in the industry are Apple Inc. and Fitbit, Inc., among others.

Analyst Review

The global industrial wearable devices market attained a value of USD 2.16 billion in 2022, driven by the rising demand from the end-user industries. Aided by the ongoing R&D activities and favourable government initiatives, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 9.5%. The market is projected to reach USD 3.72 billion by 2028. 

EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its products, the industry can be segmented into fitness tracker, smart glasses, smart watch, wearable camera, and others. On the basis of applications, the industry is divided into warehouse management, training and simulation, service and maintenance, and others. On the basis of end uses, the industry is categorised into transport and logistics, retail, manufacturing, healthcare, and others. The major regional markets for industrial wearable devices are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with North America accounting for the largest share of the market. The key players in the above market include Apple Inc, Fitbit, Inc., and others.

EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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