The global enterprise wearables marke size is expected to grow at a CAGR of over 41% during the period 2019–2025.
Some of the automotive companies like Audi, BMW, Volkswagen, and Daimler are considered to be the forerunner in the industry to adopt wearables in the workspace. However, the core purpose of the wearables is being adopted in the logistics and warehousing, where it is used to reduce the production time and improve precision. Saudi Aramco and BP are some of the renowned petroleum companies adopting the wearable technology to reduce the workplace hazards.
Arizton’s recent market research report considers the present scenario of the enterprise wearables market and its market dynamics for the period 2019−2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The study offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Enterprise Wearables Market – Dynamics
Here are the list of trends and drivers that are impacting the revenues and profitability in the global enterprise wearables market:
- Growth in Bring Your Own Wearable
- Growth in Smart Clothing
- Need for Tracking Workplace Wellness
- Growth in Wearable Technology Solutions
- Rise in Adoption of IoT in Enterprises
Enterprise Wearables Market – Segmentation
This research report includes a detailed segmentation by product type, end-user, connectivity, and geography.
- Eyewears, which predominantly comprise smart glasses, stood after wristwear in terms of revenue in 2019. These glasses are more prevalent in oil & gas, mining, logistics, IT & telecom, automotive, and retail industries. APAC is expected to be the fastest-growing market for the segment due to the high concentration of IoT-based industries in China, South Korea, Japan, and other emerging countries such as India and Indonesia.
- The logistics and warehousing segment is estimated to grow at a CAGR of over 40% due to the wide adoption of smart glasses and wrist wears to promote operational excellence. While retail industries utilize wearable technology for enhancing the customer experience, the real-time order management among enterprises is expected to drive the growth.
- Wi-Fi-based connectivity is ideal for employees being deployed at remote workplaces as it facilitates high-speed integration and seamless engagement. Wi-Fi is the preferable connectivity mode for oil, gas, mining and other large warehousing enterprises, Europe contributed over 34% to the total market in 2019; however, the APAC region is expected to grow at the fastest CAGR during the forecast period in terms of revenue.
Market Segmentation by Product Type
- Wrist Wear
- Arm wear
Market Segmentation by Connectivity
- Cellular & NFC
Market Segmentation by End-users
- IT & Telecom
- Oil & Gas and Mining
- Logistics & Warehousing
- Transportation & Hospitality
Enterprise Wearables Market – Geography
The wearable adoption in the enterprises and industries is more prevalent in the western countries whereas the customer centric adoption of wearables is more likely to enforce the organizations to implement the adoption in APAC and Latin America during the forecast period. Further, smart manufacturing, introduction of smart cities, investment in IoT, introduction of 5G, rise in LPWAN connectivity, growth of BYOW policy, increasing corporate wellness plans, the stringent regulations with terms of data collection and integration, the rise in number of solution & software based provider are expected to fuel the growth of the market globally that is also more likely to encourage new vendors in the market.
Market Segmentation by Geography
- South Korea
- South Korea
- South Africa
- Saudi Arabia
- North America
- Latin America
Enterprise Wearables Market – Vendor Landscape
The enterprise wearables market is composed of few but significant vendors. As the product is based on the technology and back end software processing, the investment in research and development is highly crucial in sustaining an edge in the competitive market. However, being in par with customizable demands, successful collaboration and partnerships, utilizing the IoT investments, tapping the potential markets with mergers and acquisitions and price considerations can play a major role in the enterprise wearables market during the forecast period. Further, mounting configurations and freedom of attachments can lead to higher satisfaction level just like dynaEdge smart glasses that can be mounted on helmets, head, frames and lens less frames.
- Business Overview
- Major Product Offerings
- Key Strengths
- Key Strategies
- Key Opportunities
Other Prominent Vendors
- Business Overview
- Product Offerings
- Seiko Epson
- Osterhout Design Group (ODG)
- Dynabook Inc.
- Pro Glove
- Zebra Technologies
- Ellice Healthy
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