Global Industrial Wearable Devices Market to Reach US$ 33.8 Billion by 2032, Propelled by the Numerous Advantages Offered by the Product

November 28, 2022 | Technology & Media

The latest report by IMARC, titled “Industrial Wearable Devices Market Report by Product Type (Fitness Tracker, Smart Glasses, Smart Watches, Wearable Camera, and Others), Application (Warehouse Management, Training & Simulation, Service & Maintenance, and Others), Industry (Transport & Logistics, Retail, Manufacturing, Healthcare, and Others), and Region 2024-2032”, finds that the global industrial wearable devices market size reached US$ 11.9 Billion in 2023. Industrial wearable devices refer to functional tools that help enhance workplace safety, productivity, and efficiency of companies in numerous industry verticals, such as healthcare, logistics, manufacturing, and lifestyle. These devices are made from highly sophisticated components, which track activities, collect data and offer customized experiences based on the needs and desires of consumers. In recent years, industrial wearable devices have gained traction as they assist workers in performing assigned tasks easily and minimize work related accidents.

Global Industrial Wearable Devices Market Trends:

One of the primary factors driving the market is the numerous advantages offered by industrial wearable devices, such as convenience, portability, and operational efficiency. Additionally, enhancements in bio-sensing technology in these devices assist in measuring health parameters, including heart rate, temperature, and blood oxygen levels, thereby creating a positive market outlook. Furthermore, these parameters are also used by companies to track the health of their employees and are linked to their employee welfare programs, consequently minimizing healthcare costs. Other than this, industrial wearable devices are utilized for workforce authentication, real-time data monitoring, corporate wellness, field management, and mobile workforce management. Besides this, the constant research and development (R&D) activities and integration of virtual reality and augmented reality in these devices are leading to their extensive utilization for training new employees to recover motor functions during rehabilitation, thus positively influencing the market growth. Looking forward, IMARC Group expects the market value to reach US$ 33.8 Billion by 2032, expanding at a CAGR of 12% during the forecast period (2024-2032).

Market Summary:

  • Based on the product type, the market has been divided into fitness tracker, smart glasses, smart watches, wearable camera, and others. Currently fitness tracker dominates the market.
  • On the basis of the application, the market has been segregated into warehouse management, training and simulation, service and maintenance, and others.
  • Based on the industry, the market has been segmented into transport and logistics, retail, manufacturing, healthcare, and others.
  • Region-wise, North America exhibits a leading position in the market. Other major regions include Europe, Asia Pacific, Middle East and Africa, and Latin America.
  • The competitive landscape of the market has also been analyzed, with some of the key players being Apple Inc., Seiko Epson Corporation (Epson), Fujitsu Limited, Google Inc., Microsoft Corpoartion, Vuzix, ASUS TeK Computer Inc., Fitbit, Garmin Ltd., Honeywell International Inc., Jawbone, Motorola Mobility LLC, Nike Inc.,, Samsung GGroup, SAP SE, Sony Corporation, Xiomi Group, and Eurotech S.p.A.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Product Type, Application, Industry, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered Apple, Epson, Fujitsu, Google, Microsoft, Vuzix, ASUS, Fitbit, Garmin, Honeywell, Jawbone, Motorola, Nike, Pebble, Samsung, SAP, Sony, Xiomi and Eurotech
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Industrial Wearable Devices Market to Reach US$ 33.8 Billion by 2032, Propelled by the Numerous Advantages Offered by the Product
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