Internet Of Things (IoT) Enabled Industrial Wearables Market to grow by USD 3.35 billion between 2022 - 2027, Growth Driven by Rise in digitalization and automation within industries

NEW YORK, Oct. 17, 2023 /PRNewswire/ — The Internet Of Things (IoT) Enabled Industrial Wearables Market report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the Internet of Things (IoT) enabled industrial wearables market between 2022 and 2027 is USD 3.35 billion. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

The market is driven by the rise in digitalization and automation within industries. The penetration of digitation and automation technologies has increased across industries. This can be attributed to the decrease in the cost of technology, the increasing adoption of wireless devices, and the growing focus on improving workspace efficiency. The growing employee shortage in many sectors has also forced the adoption of automation technologies across industries. All these factors are increasing investments in digitization and automation, both from vendors that provide IoT solutions and end-users, which is driving the growth of the market.

Market Challenge –

The high cost of wearable devices and technology is the major challenge in the market.
The rising complexity of wearable technologies has consequently increased the cost of wearables.
The complexities of IoT-enabled Industrial wearables directly affect the costs associated with the development of software and the cost of networking solutions. The more complex a wearable device is, the higher the cost involved in its software development.
Moreover, wearable devices are frequently used in conjunction with technologies such as AR and VR. This makes the adoption of these technologies even more expensive.
Such high costs are hindering the adoption of wearable technologies among end-users, which is reducing the growth potential in the market.

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The Internet of Things (IoT) enabled industrial wearables market is segmented by Product (Hand worn wearables, Head-mounted wearables, and Smart eyewear), End-user (Automotive, Manufacturing, Aerospace, and Others), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).

The market share growth by the hand-worn wearables segment will be significant during the forecast period. The segment is driven by the growing adoption of Industry 4.0 architecture among manufacturing industries globally and advances in sensors and scanning technologies.
North America is estimated to contribute 44% to the growth of the global market during the forecast period. View the FREE Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the Internet of Things (IoT) enabled industrial wearables market:

EUROTECH Spa, Fujitsu General Ltd., Generalscan, Hitachi Ltd., Honeywell International Inc., Intellinium, Iristick NV, Magic Leap Inc., Microsoft Corp., Optinvent, RealWear Inc., SAP SE, Seiko Epson Corp., ThirdEye Gen Inc., Vuzix Corp., WESTUNITIS Co. Ltd., Workaround GmbH, WORKERBASE GmbH, ASUSTeK Computer Inc., Samsung Electronics Co. Ltd.

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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