According to the latest report by IMARC Group, “Global Enterprise Wearables Market Growth, Share, Size, Industry Trends, Opportunity and Forecast 2022-2027“, the global enterprise wearables market reached a value of US$ 3.17 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 28.85 Billion by 2027, exhibiting a CAGR of 41.20% during 2022-2027.
Enterprise wearables refer to digital assistance systems directly worn on the body. These wearables include body-worn electronic devices capable of exchanging data through the corporate network. These products are used to provide employers with real-time insights, which increases the efficiency of the employees. They track information about the health and fitness of the employees under their wellness program. In recent years, enterprise wearables have gained traction to prevent workplace injuries, deaths, and illnesses, and ensure the safety of employees. Nowadays, it is also extensively utilized in various industry verticals such as infotainment, telecommunications, information technology (IT), healthcare, automotive, and transportation.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
|Base Year: 2021|
|Forecast Year: 2022-2027|
Enterprise Wearables Market Trends and Drivers:
One of the primary factors driving the market is the increasing technological advancements in sensor technology. Additionally, enterprise wearables include smart rings, fitness trackers, implantable wearables, clothing, and glasses that provide information regarding blood pressure, body temperature, and heart rate of the workers. Other than this, they also include wearable robots, exoskeletons, and patches that control the position of the human body while lifting heavy weights. Besides this, some enterprise wearables, such as headsets integrated with hand-free microphones, ease the communication between workers and are convenient to use.
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Furthermore, the utilization of augmented reality (AR) and virtual reality (VR) helmets to ease the procedure of training the workers on complicated operations prior to performing them has reduced the risk of injury. Along with this, enterprise wearables provide information about atmospheric pressure, level of radiation at the worksite, and temperature, which prevent emergencies and organize the evacuation of workers, which is creating a positive market outlook. Another growth-inducing factor is the rising application of this product among healthcare professionals to receive a push notification from patients in need of immediate assistance.
Global Enterprise Wearables Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Adidas AG, Apple Inc., AT&T Inc., EnOcean GmbH, Eurotech S.p.A., Fossil Group Inc., Google LLC, Samsung Electronics Co. Ltd., Seiko Epson Corporation, Sony Corporation, Texas Instruments Incorporated and Xiaomi Inc.
The report has segmented the market on the basis of region, product type, technology and end user.
Breakup by Product Type:
- Wrist Wear
- Eye Wear
- Head Wear
Breakup by Technology:
- Internet of Things (IoT)
Breakup by End User:
- Aerospace and Defense
- IT and Telecom
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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