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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.
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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.
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.
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Based on the product, the market can be divided into the following:
They find wide applications in the following sectors:
The end-use segments in the industry can be segmented as follows:
The regional markets for industrial wearable devices include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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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.
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:
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 | 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:
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| Breakup by Product |
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| Breakup by Application |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| 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. |
*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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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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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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