Industrial Wearable Market Report: Trends, Forecast and Competitive Analysis to 2030

Industrial Wearable 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 $17.3 billion by 2030 with a CAGR of 11.8% from 2024 to 2030. The major drivers for this market are growing adoption of data-driven solutions, rigorous government and regulatory measures aimed at reducing workplace accidents involving personnel, and rising acceptance of industrial wearables in the automotive sector.

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Industrial Wearable by Segment

The study includes a forecast for the global industrial wearable by type, component, end use industry, and region.

Industrial Wearable Market by Type [Shipment Analysis by Value from 2018 to 2030]:

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

Industrial Wearable Market by Component [Shipment Analysis by Value from 2018 to 2030]:

• 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 [Shipment Analysis by Value from 2018 to 2030]:

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

Industrial Wearable Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• 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 cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the industrial wearable companies profiled in this report include-

• Samsung Electronics
• Sony Corporation
• Vuzix Corporation
• Microsoft Corporation
• Honeywell International
• Google
• Epson

Industrial Wearable Market Insights

• Lucintel forecasts that AR glasses will remain the largest segment over the forecast period because it facilitates real-time remote assistance to workers by an expert or a supervisor and also helps in reducing downtime, ensures quality, and improvement in customer satisfaction for industries.

• Within this market, automotive will remain the largest segment over the forecast period because it ensures higher working efficiency by reducing the chances of defects, efficient production planning, quality improvement and assurance, as well as helps in lowering the development cost.

• North America will remain the largest region over the forecast period due to existence of well-developed internet infrastructure and presence of prominent players in the wearable device market, including both established companies and startups in this region.

Features of the Global Industrial Wearable Market

• Market Size Estimates: Industrial wearable market size estimation in terms of value ($B).

• Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

• Segmentation Analysis: Industrial wearable market size by various segments, such as by component, end use industry, and region. in terms of value ($B).

• Regional Analysis: Industrial wearable market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

• Growth Opportunities: Analysis of growth opportunities in different components, end use industries, and region.s for the industrial wearable market.

• Strategic Analysis: This includes M&A, new product development, and competitive landscape of the industrial wearable market.

• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1. What is the industrial wearable market size?

Answer: The global industrial wearable market is expected to reach an estimated $17.3 billion by 2030.

Q.2. 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 2024 to 2030.

Q.3. What are the major drivers influencing the growth of the industrial wearable market?

Answer: The major drivers for this market are growing adoption of data-driven solutions, rigorous government and regulatory measures aimed at reducing workplace accidents involving personnel, and rising acceptance of industrial wearables in the automotive sector.

Q.4. What are the major segments for industrial wearable market?

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

Q.5. Who are the key industrial wearable market companies?

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

• Samsung Electronics
• Sony Corporation
• Vuzix Corporation
• Microsoft Corporation
• Honeywell International
• Google
• Epson

Q.6. Which industrial wearable market segment will be the largest in future?

Answer: Lucintel forecasts that AR glasses will remain the largest segment over the forecast period because it facilitates real-time remote assistance to workers by an expert or a supervisor and also helps in reducing downtime, ensures quality, and improvement in customer satisfaction for industries.

Q.7. In industrial wearable market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to existence of well-developed internet infrastructure and presence of prominent players in the wearable device market, including both established companies and startups in this region.

Q.8. 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, smartwatches, 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 has occurred in the last 5 years and what has its impact been on the industry?