Industrial Wearables Market
Industrial Wearables - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Industrial Wearables Market is accounted for $1.10 billion in 2019 and is expected to reach $25.05 billion by 2027 growing at a CAGR of 47.8% during the forecast period. Some of the key factors propelling the market growth include High requirement for effective communication and collaborative working environment, increased interests of enterprises in utilizing AR technology, especially in the production area and VR technology specifically in training domain, and technological advancements and automation in manufacturing plants. However, data security and privacy issues are likely to hamper the market.
Industrial wearables are functional tools designed to improve the productivity, safety, and efficiency of the businesses in sectors such as manufacturing, logistics, healthcare, lifestyle, etc. These devices are composed of highly sophisticated electronic components that collect data, track activities, and provide customized experiences according to the needs and desires of the users. Also, they are geared towards helping a worker perform the assigned task at hand more efficiently and reducing work-related accidents. Employers can collect data, track activities, and provide tailor-made experiences, depending on needs and desires.
By device type, AR glasses segment is expected to grow at the significant rate during the forecast period, due to growing adoption of these glasses in varieties of industries, including automotive, aerospace, and other manufacturing industries. AR glasses facilitate real-time remote assistance to workers by an expert or a supervisor, thereby boosting productivity, reducing downtime, ensuring quality, and improving customer satisfaction. The use of AR devices also decreases the technician's training time with increased support of an expert. All these advantages offered by AR glasses would increase their demand in the industrial market in the coming years.
On the basis of geography, North America region is anticipated to have considerable market growth during the forecast period, owing to the presence of leading industrial wearables market players and growing trends of smart manufacturing and Industrial IoT (IIOT). As industries in North America are among the early adopters of digitization and connected technologies to improve productivity, the region is expected to hold high growth opportunities for market. The automotive industry in North America is focused on implementing AR glasses to automate vehicle model setup, configuration, calibration, and quality checkup, which in turn will highly benefit the industrial wearables market.
Some of the key players in Industrial Wearables Market include Vuzix, Magic Leap, Honeywell, Oculus VR (Facebook), Asus, Microsoft, Samsung Electronics Co., Ltd., Fitbit, Apple Inc., Fujitsu, Olympus, Optinvent, Google, Epson, Fossil, HTC, Zepcam, and RealWear.
Components Covered:
• Touchpads and Sensors
• Connectivity Components
• Processors and Memory Modules
• Optical Systems and Displays
• Electromechanicals, Cases, and Frames
• Camera Modules
Device Types Covered:
• Smartwatches
• Smart Bands
• AR Glasses
• VR Headsets
• Patches
• Other Device Types
Applications Covered:
• Warehouse Management
• Emergency Response
• Field Repair Services
• Operation and Assembly
• Employee Monitoring
• Employee Training
End Users Covered:
• Power & Energy
• Chemicals
• Automotive
• Aerospace & Defense
• Oil & Gas
• Manufacturing
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Industrial Wearables Market, By Component
5.1 Introduction
5.2 Touchpads and Sensors
5.3 Connectivity Components
5.4 Processors and Memory Modules
5.5 Optical Systems and Displays
5.6 Electromechanicals, Cases, and Frames
5.7 Camera Modules
6 Global Industrial Wearables Market, By Device Type
6.1 Introduction
6.2 Smartwatches
6.3 Smart Bands
6.4 AR Glasses
6.5 VR Headsets
6.6 Patches
6.7 Other Device Types
6.7.1 Wearable Cameras
6.7.2 Smart Clothing
7 Global Industrial Wearables Market, By Application
7.1 Introduction
7.2 Warehouse Management
7.3 Emergency Response
7.4 Field Repair Services
7.5 Operation and Assembly
7.6 Employee Monitoring
7.7 Employee Training
8 Global Industrial Wearables Market, By End User
8.1 Introduction
8.2 Power & Energy
8.3 Chemicals
8.4 Automotive
8.5 Aerospace & Defense
8.6 Oil & Gas
8.7 Manufacturing
9 Global Industrial Wearables Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Vuzix
11.2 Magic Leap
11.3 Honeywell
11.4 Oculus VR (Facebook)
11.5 Asus
11.6 Microsoft
11.7 Samsung Electronics Co., Ltd.
11.8 Fitbit
11.9 Apple Inc.
11.10 Fujitsu
11.11 Olympus
11.12 Optinvent
11.13 Google
11.14 Epson
11.15 Fossil
11.16 HTC
11.17 Zepcam
11.18 RealWear
List of Tables
1 Global Industrial Wearables Market Outlook, By Region (2018-2027) ($MN)
2 Global Industrial Wearables Market Outlook, By Component (2018-2027) ($MN)
3 Global Industrial Wearables Market Outlook, By Touchpads and Sensors (2018-2027) ($MN)
4 Global Industrial Wearables Market Outlook, By Connectivity Components (2018-2027) ($MN)
5 Global Industrial Wearables Market Outlook, By Processors and Memory Modules (2018-2027) ($MN)
6 Global Industrial Wearables Market Outlook, By Optical Systems and Displays (2018-2027) ($MN)
7 Global Industrial Wearables Market Outlook, By Electromechanicals, Cases, and Frames (2018-2027) ($MN)
8 Global Industrial Wearables Market Outlook, By Camera Modules (2018-2027) ($MN)
9 Global Industrial Wearables Market Outlook, By Device Type (2018-2027) ($MN)
10 Global Industrial Wearables Market Outlook, By Smartwatches (2018-2027) ($MN)
11 Global Industrial Wearables Market Outlook, By Smart Bands (2018-2027) ($MN)
12 Global Industrial Wearables Market Outlook, By AR Glasses (2018-2027) ($MN)
13 Global Industrial Wearables Market Outlook, By VR Headsets (2018-2027) ($MN)
14 Global Industrial Wearables Market Outlook, By Patches (2018-2027) ($MN)
15 Global Industrial Wearables Market Outlook, By Other Device Types (2018-2027) ($MN)
16 Global Industrial Wearables Market Outlook, By Wearable Cameras (2018-2027) ($MN)
17 Global Industrial Wearables Market Outlook, By Smart Clothing (2018-2027) ($MN)
18 Global Industrial Wearables Market Outlook, By Application (2018-2027) ($MN)
19 Global Industrial Wearables Market Outlook, By Warehouse Management (2018-2027) ($MN)
20 Global Industrial Wearables Market Outlook, By Emergency Response (2018-2027) ($MN)
21 Global Industrial Wearables Market Outlook, By Field Repair Services (2018-2027) ($MN)
22 Global Industrial Wearables Market Outlook, By Operation and Assembly (2018-2027) ($MN)
23 Global Industrial Wearables Market Outlook, By Employee Monitoring (2018-2027) ($MN)
24 Global Industrial Wearables Market Outlook, By Employee Training (2018-2027) ($MN)
25 Global Industrial Wearables Market Outlook, By End User (2018-2027) ($MN)
26 Global Industrial Wearables Market Outlook, By Power & Energy (2018-2027) ($MN)
27 Global Industrial Wearables Market Outlook, By Chemicals (2018-2027) ($MN)
28 Global Industrial Wearables Market Outlook, By Automotive (2018-2027) ($MN)
29 Global Industrial Wearables Market Outlook, By Aerospace & Defense (2018-2027) ($MN)
30 Global Industrial Wearables Market Outlook, By Oil & Gas (2018-2027) ($MN)
31 Global Industrial Wearables Market Outlook, By Manufacturing (2018-2027) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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