According to the latest report by IMARC Group, the global enterprise wearables market size 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 represent the functional devices that offer employers real-time insights and improve the performance as well as productivity of employees. They track information related to the health and fitness of employees as a part of their wellness program. Enterprise wearables generally comprise of exoskeletons, wearable robots, fitness trackers, implantable wearables, smart rings, glasses, clothing, patches, etc. They provide data related to the temperature, atmospheric pressure, and level of radiation at the worksite, which enables organizations to prevent or address emergencies and arrange the evacuation of workers accordingly. Consequently, enterprise wearables find wide-ranging applications across several sectors, such as telecommunications, infotainment, healthcare, information technology (IT), automotive, transportation, etc.
|Base Year: 2021|
|Forecast Year: 2022-2027|
Enterprise Wearables Market Trends and Drivers:
The growing advancements in sensor technology are primarily driving the enterprise wearables market. Additionally, the increasing adoption of virtual reality (VR) and augmented reality (AR) helmets to facilitate the training of workers in complicated operations is further catalyzing the market growth.
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Besides this, the rising utilization of enterprise wearables by healthcare providers to receive push notifications from patients in need for immediate assistance is acting as another significant growth-inducing factor.
Moreover, the escalating demand for compact product variants to access information via connected devices, automatic storage, activity tracking, etc., is also positively influencing the global market. Apart from this, the emerging trend of bring your own device (BYOD) policies is anticipated to fuel the enterprise wearables market over the forecasted period.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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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