Market Overview 2022-2027
The latest research study “Enterprise Wearables Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds 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.
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.
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Industry Definition and Application:
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.
Global 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. 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.
|Enterprise Wearables Market Report Scope|
|Market size value in 2021||US$ 3.17 Billion|
|Market forecast in 2027||US$ 28.85 Billion|
|Growth Rate||CAGR of 41.20% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Product Type, Technology, End User and Region|
|Regional scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Key companies profiled||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.|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization preview||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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The report has been segmented the market into following categories:
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
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
List of Major Key Players:
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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