PRESS RELEASE
Published February 13, 2023
According to the latest report by IMARC Group, title “Enterprise Wearables Market: Global Industry Trends, Share, Size, Growth, 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.
Enterprise Wearables Market Trends:
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. 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.
Key Market Segmentation:
The report has segmented the global enterprise wearables market on the basis of product type, technology, end user and region.
Breakup by Product Type:
• Wrist Wear
• Eye Wear
• Head Wear
• Others
Breakup by Technology:
• Bluetooth
• Internet of Things (IoT)
Breakup by End User:
• Manufacturing
• Healthcare
• Retail
• Aerospace and Defense
• IT and Telecom
• Others
Breakup by Geography:
• 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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List of Key Companies Covered in this Market Report:
The major players in the market are 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.
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About IMARC Group:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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