Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Industrial Wearable Devices Market Outlook

The global industrial wearable devices market reached a value of about USD 2.37 billion in 2023. The industry is further expected to increase at a CAGR of nearly 9.5% between 2024 and 2032 to reach a value of about USD 5.35 billion by 2032.

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.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
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
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Apple Inc
  • Fitbit, Inc
  • Others
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2023, the global industrial wearable devices market attained a value of nearly USD 2.37 billion.

The market is projected to grow at a CAGR of 9.5% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 5.35 billion by 2032.

The major drivers of the market are the growing research and development activities by key players, incorporation of virtual reality as well as augmented reality in apps, and rising demand for industrial wearable devices from different end-user sectors.

The key trends guiding the growth of the market include the development of wearables for market-specific applications and rising disposable incomes.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

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

The major players in the  industrial wearables devices market are Apple Inc and Fitbit, Inc., among others.

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