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The internet of things (IoT) enabled industrial wearables market size is forecast to increase by USD 20.56 billion at a CAGR of 57.2% between 2023 and 2028. The market is witnessing significant growth due to the rise in digitalization and automation within industries. This trend is driving the demand for wearable devices that can enhance productivity, improve worker safety, and streamline operations. The expansion of the market hinges on various factors, such as the increasing digitalization and automation across industries, the evolution of Industry 4.0, and the rising integration of smart sensors. However, there are challenges that need to be addressed, such as the high cost of wearable devices and technology, and the need to increase battery life to ensure uninterrupted usage. To address these challenges, companies are exploring innovative solutions, such as developing more energy-efficient sensors and exploring alternative power sources. Additionally, partnerships and collaborations between technology providers and industrial players are expected to bring down costs and accelerate market growth. Overall, the market for IoT enabled industrial wearables is poised for growth, driven by the need for real-time data and analytics in industrial settings, and the potential to transform workflows and optimize operations. The market report forecast market size, historical data spanning from 2018 - 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
The Internet of Things (IoT) enabled industrial wearables market is experiencing significant growth due to the increasing demand for advanced technology solutions in various industries such as manufacturing, healthcare, energy, and construction. Industrial wearables, including smart eyewear, head-mounted wearables, hand-worn wearables, and portable wearables, are revolutionizing the way industries operate. These wearables are equipped with connectivity components, touchpads, and sensors, enabling real-time data collection and analysis. In the manufacturing industry, IoT-enabled industrial wearables are used for predictive maintenance solutions, improving productivity and reducing downtime. In the healthcare industry, these wearables are used for remote patient monitoring and telemedicine, enhancing patient care and improving outcomes. The energy industry is leveraging IoT-enabled wearables for inspections and maintenance, ensuring safety and efficiency. Cases and frames made of durable materials and camera integration are essential features of industrial wearables. The technology used in these wearables includes sensors, connectivity, and data analytics, providing valuable insights for logistics and operations management. The integration of Industry 4.0 technologies is further driving the growth of the industrial wearables market. Overall, IoT-enabled industrial wearables are transforming industries by providing real-time data, enhancing productivity, and improving safety.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The hand-worn wearables segment is estimated to witness significant growth during the forecast period. The Internet of Things (IoT) enabled Industrial Wearables market is experiencing significant growth due to the increasing adoption of smart devices in various industries such as Medical, Manufacturing, and Energy. Smart Eyewear and Head-mounted Wearables, including smart glasses and helmets, are gaining popularity in industries for their hands-free capabilities, enhancing staff productivity and safety. Hand-worn Wearables and Portable Wearables, such as smartwatches and fitness bands, are also being integrated into industrial applications for real-time monitoring and automation. Cases and Frames, Connectivity Components, Touchpads and Sensors, Camera, Bluetooth 5, and other advanced technology features are integral to these Industrial Wearables.
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The hand-worn wearables segment accounted for USD 566.30 million in 2018. The Medical Industry is leveraging biometric sensors and RFID tags for patient care and monitoring, while the Manufacturing and Energy Industries are utilizing predictive maintenance solutions and performance optimization through data analytics. The high cost and limited battery life of these devices are challenges for widespread adoption. However, advancements in technology, such as power harvesting and network connectivity, are addressing these concerns. Staff shortages and the need for digitization and automation are further driving the demand for Industrial Wearables. Technology firms, wearable device manufacturers, and industrial solution providers are collaborating to develop wireless communication protocols and cloud computing infrastructure for seamless integration and data management.
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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The Internet of Things (IoT) enabled industrial wearables market is experiencing significant growth due to the increasing adoption of biometric feedback devices and body-worn sensors in various industries. These wearable technologies enable real-time monitoring of workers' health and performance, providing valuable insights for optimizing industrial processes and enhancing worker safety. Biometric feedback devices, such as heart rate monitors and temperature sensors, offer accurate and continuous data on workers' physiological conditions. Body-worn sensors, including accelerometers and gyroscopes, track workers' movements and postures, providing valuable data for analyzing work patterns and identifying potential hazards. The integration of IoT technology in industrial wearables allows for seamless data transfer and analysis, enabling proactive interventions and improving overall operational efficiency.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rise in digitalization and automation within industries is notably driving market growth. The market, encompassing Smart Eyewear, Head-mounted Wearables, Hand-worn Wearables, and Portable Wearables, is witnessing significant growth due to digitization and automation trends in industries. The Medical, Manufacturing, and Energy sectors are leading the adoption of Industrial Wearables, with an increasing focus on improving efficiency, workplace safety, and predictive maintenance solutions. Technology firms, wearable device manufacturers, and industrial solution providers are investing heavily in IoT-enabled wearables, incorporating connectivity components like Bluetooth 5, touchpads, and sensors, and advanced features such as cameras.
However, high costs and limited battery life remain challenges, with some industries, like Construction and Logistics, exploring power harvesting and network connectivity solutions. The Healthcare sector is integrating biometric sensors and RFID tags to enhance worker productivity and optimize performance. Industry 4.0 is driving the demand for advanced wearables, with wireless communication protocols and cloud computing infrastructure enabling real-time data analytics. Thus, such factors are driving the growth of the market during the forecast period.
The rising focus on increasing battery life is the key trend in the market. In the realm of Industrial Wearables, the integration of Internet of Things (IoT) technology has revolutionized various industries such as the Medical, Manufacturing, and Energy sectors. Smart Eyewear and Head-mounted Wearables, including smart glasses and helmets, are increasingly popular in these industries due to their hands-free functionality and enhanced data collection capabilities. Hand-worn and Portable Wearables, like wristbands and vests, are also gaining traction for their convenience and versatility. However, the battery life of these Industrial Wearables remains a significant challenge. The incorporation of heavy components, such as Connectivity Components, Touchpads and Sensors, Camera, and Biometric sensors, necessitates larger batteries, compromising the overall design and increasing the cost. To address this issue, technology firms, wearable device manufacturers, and industrial solution providers are focusing on innovative solutions. They are employing low-power consumption technologies, such as Bluetooth 5.0, and implementing system-level and circuit-level innovations to reduce power consumption.
Additionally, some are exploring power harvesting techniques, like solar panels or kinetic energy, to extend battery life. Industries that heavily rely on wearables for data collection and extended operating periods, such as Healthcare, Logistics, Construction, and Industry 4.0, cannot afford to face battery-related issues. Predictive maintenance solutions and real-time data analytics are crucial for these industries, and uninterrupted connectivity is essential. Thus, the focus on optimizing battery life and performance is paramount. Wireless communication protocols, such as Bluetooth 5.0, and Cloud computing infrastructure enable seamless data transfer and analysis, enhancing the overall value proposition of Industrial Wearables. As the market for Industrial Wearables continues to grow, the demand for longer battery life, improved connectivity, and cost-effective solutions will remain a priority. Thus, such trends will shape the growth of the market during the forecast period.
The high cost of wearable devices and technology is the major challenge that affects the growth of the market. The Internet of Things (IoT) enabled industrial wearables market encompasses smart eyewear, head-mounted wearables, hand-worn wearables, and portable wearables, which are increasingly being adopted in the medical, manufacturing, and energy industries. These wearables incorporate advanced technology such as connectivity components, touchpads and sensors, cameras, Bluetooth 5, and more. Industrial IoT wearables, including smart glasses and smart helmets, offer automation, digitization, and predictive maintenance solutions through biometric sensors, RFID tags, and other advanced technology.
However, the high cost of these devices, driven by their complexity and the need for network connectivity, remains a significant barrier to adoption. Industrial solution providers and technology firms collaborate to develop software and networking solutions, while wireless communication protocols and cloud computing infrastructure facilitate performance optimization. Despite the high cost and limited battery life, industrial wearables offer staff shortage solutions, data analytics, and logistics improvements, making them essential components of Industry 4.0. Hence, the above factors will impede the growth of the market during the market forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
EUROTECH Spa- The company offers Internet of Things-enabled industrial wearables such as wrist-worn computers including Zypad WL1500, Zypad WR 11xx, and Zypad WL1100.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Internet of Things (IoT) enabled industrial wearables market is witnessing significant growth due to the increasing adoption of automation and digitization in various industries such as manufacturing, medical, energy, and construction. Smart eyewear and head-mounted wearables, including smart glasses and helmets, are gaining popularity in the market. These wearables come equipped with connectivity components like Bluetooth 5, touchpads, and sensors, enabling real-time data analytics and wireless communication protocols. Industrial wearables, including hand-worn and portable devices, are being used in industries to enhance productivity and efficiency.
Cases and frames made of durable materials ensure the devices' longevity in industrial settings. The integration of cameras, smart rings, biometric sensors, VR, RFID tags, and other advanced technology in these wearables is revolutionizing industries. The market is driven by the need for predictive maintenance solutions, logistics optimization, and staff shortages. However, high cost and limited battery life are major challenges. Power harvesting and network connectivity are essential for improving battery life and reducing dependency on frequent charging. The technology firms, wearable device manufacturers, and industrial solution providers are investing in advanced technology, data analytics, and cloud computing infrastructure to optimize performance. The energy, healthcare, and logistics industries are expected to witness significant growth in the adoption of IoT enabled industrial wearables.
Market Scope |
|
Report Coverage |
Details |
Page number |
176 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 57.2% |
Market growth 2024-2028 |
USD 20.56 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
39.6 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 42% |
Key countries |
US, China, Germany, UK, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ASUSTeK Computer Inc., EUROTECH Spa, Fujitsu General Ltd., Generalscan, Hitachi Ltd., Honeywell International Inc., Intellinium, Iristick NV, Magic Leap Inc., Microsoft Corp., Optinvent, RealWear Inc., Samsung Electronics Co. Ltd., SAP SE, Seiko Epson Corp., ThirdEye Gen Inc., Vuzix Corp., WESTUNITIS Co. Ltd., Workaround GmbH, and WORKERBASE GmbH |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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