Industrial Wearable Market

Industrial Wearable Market

Trends, opportunity and forecast in the global industrial wearable market to 2028 by type (AR glasses, VR headsets, smart watches, smart bands, and others), component (processors and memory modules, optical systems and displays, electromechanical components, touchpads and sensors, connectivity components, camera modules, and others), end use industry (automotive, aerospace & defense, manufacturing, oil & gases, power & energy, chemicals, and others), and region

Industrial Wearable Market Trends and Forecast

The future of the global industrial wearable market looks promising with opportunities in the automotive, aerospace & defense, manufacturing, oil & gas, power & energy, and chemical markets. The global industrial wearable market is expected to reach an estimated $13.8 billion by 2028 with a CAGR of 11.8% from 2023 to 2028. The major drivers for this market are growing demand for effective communication and collaborative working environment, increasing inclination of consumer towards wireless connectivity along with automation in manufacturing plants.

A more than 150-page report is developed to help in your business decisions. A sample figure with some insights is shown below.

Industrial Wearable Market by Segment

The study includes trends and forecast

for the global industrial wearable market by type, component, end use industry, and region, as follows:
Industrial Wearable Market by Type [Value ($B) Shipment Analysis from 2017 to 2028]:

• AR Glasses
• VR Headsets
• Smart Watches
• Smart Bands
• Others

Industrial Wearable Market by Component [Value ($B) Shipment Analysis from 2017 to 2028]:

• Processors and Memory Modules
• Optical Systems and Displays
• Electromechanical Components
• Touchpads and Sensors
• Connectivity Components
• Camera Modules
• Others

Industrial Wearable Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:

• Automotive
• Aerospace & Defense
• Manufacturing
• Oil & Gases
• Power & Energy
• Chemical
• Others

Industrial Wearable Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Industrial Wearable Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, industrial wearable companies in the global market cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the industrial wearable companies in the global industrial wearable market profiled in this report include:

• Microsoft Corporation
• Google
• Vuzix
• Magic Leap
• Apple
• Fujitsu
• Honeywell International
• Oculus
• Samsung Electronics
• Fitbit
• HTC Corporation
• Fossil Group

Industrial Wearable Market Insights

• Lucintel forecasts that AR glasses will remain the largest segment over the forecast period because it helps an expert or a supervisor to provide real-time remote assistance to workers while boosting productivity, reducing downtime, ensuring quality, and improving customer satisfaction for industries.
• Within this market, automotive is expected to be the largest segment because AR devices assists the operator by displaying important instructions and standard operating procedures, which ensures higher working efficiency while reducing the chances of defects.
• North America will remain the largest region during the forecast period due to growing adoption of digitization and connected technologies to improve the productivity in the region.

Features of the Industrial Wearable Market

• Market Size Estimates: Industrial wearable market size estimation in terms of value ($B)
• Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Industrial wearable market size by various segments, such as by type, component, end use industry, and region
• Regional Analysis: Industrial wearable market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different by type, component, end use industry, and regions for the industrial wearable market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the industrial wearable market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the industrial wearable market size?

Answer: The global industrial wearable market is expected to reach an estimated $13.8 billion by 2028.

Q2. What is the growth forecast for industrial wearable market?

Answer: The global industrial wearable market is expected to grow with a CAGR of 11.8% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the industrial wearable market?

Answer: The major drivers for this market are growing demand for effective communication and collaborative working environment, increasing inclination of consumer towards wireless connectivity along with automation in manufacturing plants.

Q4. What are the major segments for industrial wearable market?

Answer: The future of the global industrial wearable market looks promising with opportunities in the automotive, aerospace & defense, manufacturing, oil & gas, power & energy, and chemical markets.

Q5. Who are the key industrial wearable companies?

Answer: Some of the key industrial wearable companies are as follows:

• Microsoft Corporation
• Google
• Vuzix
• Magic Leap
• Apple
• Fujitsu
• Honeywell International
• Oculus
• Samsung Electronics
• Fitbit
• HTC Corporation
• Fossil Group

Q6. Which industrial wearable segment will be the largest in future?

Answer: Lucintel forecasts that AR glasses will remain the largest segment over the forecast period because it helps an expert or a supervisor to provide real-time remote assistance to workers while boosting productivity, reducing downtime, ensuring quality, and improving customer satisfaction for industries.

Q7. In industrial wearable market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region during the forecast period due to growing adoption of digitization and connected technologies to improve the productivity in the region.

Q8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1. What are some of the most promising, high-growth opportunities for the industrial wearable market by type (AR glasses, VR headsets, smart watches, smart bands, and others), component (processors and memory modules, optical systems and displays, electromechanical components, touchpads and sensors, connectivity components, camera modules, and others), end use industry (automotive, aerospace & defense, manufacturing, oil & gases, power & energy, chemicals, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity did occur in the last five years and how did they impact the industry?
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