Industrial Wearables Market Global Scenario, Market Size, Outlook, Trend, and Forecast, 2020 – 2030

The Global Industrial Wearables Industry Market was valued at US$ 4.64 billion in 2021 and is predictable to reach US$ 15.8 billion by 2030 which is projected to attain a CAGR of 14.6 % during the forecast period from 2021- 2030.

Wearable devices are referred as products that are controlled by the electronic components and software fused into clothing, or it is worn on the body as an accessory such as a smartwatch, smart glasses, fitness trackers, body-mounted sensors for monitoring and transmitting biological data for healthcare purposes.

Market Dynamics

The adoption of wearable technology is not only limited to consumers but becoming increasing apparently in the industry. Factors attributed to the rise of the global industrial wearable market are owing to enhanced workplace productivity, efficiency, and safety in the industries such as logistics, aerospace & defense, manufacturing, logistics among others. Such devices are primarily made from electronic components for collecting data, providing customized features depending on users & desires, and tracking activities. It also imparts the worker to perform the assigned task with more ease and by reducing work-related accidents. A report published by International Labour Organisation (ILO) describes that every 15 seconds a worker dies from a work-related accident or disease and 153 workers have work-related accidents.

Wearable devices help in improving safety by enhancing the productivity and connectivity of the workers on the field by delivering data, applications, and documents in real-time. Availability of smart glass embedded with optical data capture and voice recognition technology, smart safety vests at construction sites by tracking and delivering alerts to the field workers have augmented the market growth during the forecast period. In addition, the rise in the young workforce across several industry verticals, and swift workforce-related safety standard regulations have elevated the adoption of industrial wearables products. However, the short life span of wearable devices is restraining the market growth.

The Global Industrial Wearables Market is segmented by product, component, end-user, and region. Based on product, it is categorized into VR headsets, patches, AR glasses, smartwatches & smart bands, and others. By component, it bifurcates into optical systems & displays, connectivity components, processors & memory modules, electromechanical components, camera modules, and others. End-User fragments into aerospace & defense, oil & gas, chemicals, automotive, manufacturing, power & energy, and others. Based on regional insights, the global industrial wearables market is categorized into North America (US, Canada, Mexico, Rest of America), Asia Pacific (India, China, Rest of Asia Pacific), Europe (UK, Germany, Russia, Rest of Europe) and Rest of the world (Latin America and Middle East & Africa).

North America is leading the global market owing to the presence of major key players in the region such as Google, Magic Leap, Vuzix, and Microsoft among others. In addition, the adoption of digitalization and its connected technologies for improving productivity is creating huge opportunities for market expansion.

Asia Pacific region is anticipated for the highest market growth owing to the adoption of IoT and smart manufacturing technologies, availability of high-speed internet, and government aid for the acceptance of advanced communication technologies in the region.

Prominent players inducing the Global Industrial Wearables Market are Microsoft, Epson, Magic Leap, Microsoft Corporation, Fujitsu Limited, Seiko Epson Corporation, Proglove, RealWear, Xiomi Inc., Google, Vuzix Corporation, Honeywell International Inc., Samsung Electronics Co. Ltd., SONY Corporation, IMEC, Nike, Workerbase, AsusTek Computer Inc., Fitbit Inc., Third base, HTC Corporation, and Zepcam among others.

Segmentation and Scope of the Global Industrial Wearables Market

Global Industrial Wearables Market is segmented by product, component, end-user, and region.

By Product

• VR Headsets
• Patches
• AR Glasses
• Smartwatches & Smart Bands
• Others

By Component

• Optical Systems & Displays
• Connectivity Components
• Processors & Memory Modules
• Electromechanical Components
• Camera Modules
• Others

By End-User

• Aerospace & Defense
• Oil & Gas
• Chemicals
• Automotive
• Manufacturing
• Power & Energy
• Others

By Region

North America

• US
• Canada
• Mexico

Europe

• UK
• Germany
• Russia
• Spain
• Italy
• Rest of Europe

Asia Pacific

• India
• China
• Japan
• Australia
• South Korea
• Rest of Asia Pacific

Rest of World

Middle East & Africa

• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Latin America

• Argentina
• Brazil
• Rest of Latin America

Prominent players in the Global Industrial Wearables Market among other includes

• Microsoft
• Epson
• Magic Leap
• Microsoft Corporation
• Fujitsu Limited
• Seiko Epson Corporation
• Proglove
• RealWear
• Xiomi Inc.
• Google
• Vuzix Corporation
• Honeywell International Inc.
• Samsung Electronics Co. Ltd.
• SONY Corporation
• IMEC
• Nike
• Workerbase
• AsusTek Computer Inc.
• Fitbit Inc.
• Third base
• HTC Corporation
• Zepcam