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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 (2015-2025); Market Dynamics; Manufacturing Process; Competitive Landscape; Industry Events and Developments;

Global Industrial Wearable Devices Market Outlook

The global industrial wearable devices market reached a value of about USD 1.8 billion in 2019. The industry is further expected to increase at a CAGR of nearly 9.5% between 2020 and 2025 to reach a value of about USD 3.1 billion by 2025. 

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 2025, 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.

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

  • Fitness Tracker
  • Smart Glasses
  • Smart Watch
  • Wearable Camera
  • Others

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.

 

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 industry based on the Porter's five forces model along with giving a SWOT analysis.

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    Industry Opportunities and Challenges
8    Global Industrial Wearable Devices Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Industrial Wearable Devices Historical Market (2015-2019) 
    8.3    Global Industrial Wearable Devices Market Forecast (2020-2025)
    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 (2015-2019)
            8.4.1.3    Forecast Trend (2020-2025)
        8.4.2    Smart Glasses 
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2015-2019)
            8.4.2.3    Forecast Trend (2020-2025)
        8.4.3    Smart Watch
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2015-2019)
            8.4.3.3    Forecast Trend (2020-2025)
        8.4.4    Wearable Camera
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2015-2019)
            8.4.4.3    Forecast Trend (2020-2025)
        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 (2015-2019)
            8.5.1.3    Forecast Trend (2020-2025)
        8.5.2    Training and Simulation 
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2015-2019)
            8.5.2.3    Forecast Trend (2020-2025)
        8.5.3    Service and Maintenance    
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2015-2019)
            8.5.3.3    Forecast Trend (2020-2025)
        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 (2015-2019)
            8.6.1.3    Forecast Trend (2020-2025)
        8.6.2    Retail  
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2015-2019)
            8.6.2.3    Forecast Trend (2020-2025)
        8.6.3    Manufacturing    
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2015-2019)
            8.6.3.3    Forecast Trend (2020-2025)
        8.6.4    Healthcare  
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2015-2019)
            8.6.4.3    Forecast Trend (2020-2025)
        8.6.5    Others  
    8.7    Global Industrial Wearable Devices Market by Region
        8.7.1    Market Share
            8.7.1.1    North America
            8.7.1.2    Europe
            8.7.1.3    Asia Pacific
            8.7.1.4    Latin America
            8.7.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2015-2019)
        9.1.2    Forecast Trend (2020-2025)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2015-2019)
        9.2.2    Forecast Trend (2020-2025)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2015-2019)
        9.3.2    Forecast Trend (2020-2025)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2015-2019)
        9.4.2    Forecast Trend (2020-2025)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2015-2019)
        9.5.2    Forecast Trend (2020-2025)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyers Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Manufacturing Process

    12.1    Detailed Process Flow
    12.2    Operations Involved
13    Competitive Landscape
    13.1    Market Structure
    13.2    Key Players' market share
    13.3    Company Profiles (*This list is only indicative. The report contains a more comprehensive list of players.)
        13.3.1    Apple Inc
            13.3.1.1    Company Overview
            13.3.1.2    Product Portfolio
            13.3.1.3    Demographic Reach and Achievements
            13.3.1.4    Certifications
        13.3.2    Fitbit, Inc.
            13.3.2.1    Company Overview
            13.3.2.2    Product Portfolio
            13.3.2.3    Demographic Reach and Achievements
            13.3.2.4    Certifications
        13.3.3    Others
14    Industry Events and Developments

 

List of Figures and Tables

1.    Global Industrial Wearable Devices Market: Key Industry Highlights, 2015 and 2025
2.    Global Industrial Wearable Devices Historical Market: Breakup by Product (USD Billion), 2015-2019
3.    Global Industrial Wearable Devices Market Forecast: Breakup by Product (USD Billion), 2020-2025
4.    Global Industrial Wearable Devices Historical Market: Breakup by Application (USD Billion), 2015-2019
5.    Global Industrial Wearable Devices Market Forecast: Breakup by Application (USD Billion), 2020-2025
6.    Global Industrial Wearable Devices Historical Market: Breakup by End Use (USD Billion), 2015-2019
7.    Global Industrial Wearable Devices Market Forecast: Breakup by End Use (USD Billion), 2020-2025
8.    Global Industrial Wearable Devices Historical Market: Breakup by Region (USD Billion), 2015-2019
9.    Global Industrial Wearable Devices Market Forecast: Breakup by Region (USD Billion), 2020-2025
10.    North America Industrial Wearable Devices Historical Market: Breakup by Country (USD Billion), 2015-2019
11.    North America Industrial Wearable Devices Market Forecast: Breakup by Country (USD Billion), 2020-2025
12.    Europe Industrial Wearable Devices Historical Market: Breakup by Country (USD Billion), 2015-2019
13.    Europe Industrial Wearable Devices Market Forecast: Breakup by Country (USD Billion), 2020-2025
14.    Asia Pacific Industrial Wearable Devices Historical Market: Breakup by Country (USD Billion), 2015-2019
15.    Asia Pacific Industrial Wearable Devices Market Forecast: Breakup by Country (USD Billion), 2020-2025
16.    Latin America Industrial Wearable Devices Historical Market: Breakup by Country (USD Billion), 2015-2019
17.    Latin America Industrial Wearable Devices Market Forecast: Breakup by Country (USD Billion), 2020-2025
18.    Middle East and Africa Industrial Wearable Devices Historical Market: Breakup by Country (USD Billion), 2015-2019
19.    Middle East and Africa Industrial Wearable Devices Market Forecast: Breakup by Country (USD Billion), 2020-2025
20.    Global Industrial Wearable Devices Market Structure

Key Questions Answered in the Report

In 2019, the global industrial wearable devices market attained a value of nearly USD 1.8 billion.

The market is projected to grow at a CAGR of 9.5% between 2020 and 2025.

The market is estimated to witness a healthy growth in the forecast period of 2020-2025 to reach about USD 3.1 billion by 2025.

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.

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

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.

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

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

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

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 1.8 billion in 2019, 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 2020-2025, growing at a CAGR of 9.5%. The market is projected to reach USD 3.1 billion by 2025. 

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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