Industrial Wearables Market

Industrial Wearables Market by Device Type (AR Glasses, VR Headsets, Smartwatches, Smart Bands), Industry (Automotive, Aerospace, Manufacturing, Oil & Gas, Power & Energy), Component, and Region - Global Forecast to 2024

Report Code: SE 7454 Nov, 2019, by marketsandmarkets.com

The industrial wearables market is projected to grow from USD 1.1 billion in 2019 to USD 8.6 billion by 2024; it is expected to grow at a CAGR of 50.2%. 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 among the driving factors of the industrial wearables market.

Industrial Wearables Market

Market for AR glasses likely to grow at highest CAGR during forecast period

AR glasses is expected to hold the largest share of the industrial wearables market. The adoption of AR glasses is significant across the automotive, aerospace, and other manufacturing industries. As AR glasses facilitate real-time remote assistance to workers by an expert or a supervisor, it becomes an ideal solution to boost productivity, reduce downtime, ensure quality, and improve customer satisfaction for industries. This wearable also enhances the technician’s training program with increased support of an expert. Such advantages for different industries are expected to create high growth opportunities for AR glasses in the coming years.

Automotive industry to account for largest market share during the forecast period

The automotive industry involves assembling of components, which is a tedious task and requires numerous instructions to be followed by the operator. AR devices assist the operator by displaying important instructions and standard operating procedures. This ensures higher working efficiency reducing the chances of defects. The use of wearables results in a reduction of production time and a decrease in the development cost, ensuring efficient production planning, accurate production, and quality improvement & assurance. These factors are likely to generate a higher demand for industrial wearables in the automotive industry.

Industrial Wearables Market

North America to account largest share of industrial wearables market during forecast period

The presence of leading industrial wearables market players such as Microsoft (US), Google (US), Vuzix (US), and Magic Leap (US) in North America are expected to drive the market in this region. To meet the requirements of various end-user industries, the players are focused on developing different types of wearables, especially AR glasses and VR headsets. 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 during the forecast period.

Key Market Players

Microsoft Corporation (US), Google (US), Seiko Epson Corporation (Japan), Vuzix (US), Magic Leap, Inc. (US), Apple Inc. (US), Fujitsu Ltd. (Japan), Honeywell International Inc. (US), Oculus VR (US), Samsung Electronics Co., Ltd. (South Korea), AsusTek Computer Inc. (Taiwan), Fitbit, Inc. (US), Fossil Group, Inc. (US), HTC Corporation (Taiwan), Olympus Corporation (Japan), Optinvent (France), RealWear (US), ThirdEye (US), Workerbase (Germany), and Zepcam (Netherlands) are among a few major players in the industrial wearables market.

Microsoft (US) led the industrial wearables market in 2018. The company is the most valuable brand in the digital industry. It offers mixed reality smart glasses, HoloLens that allow users to see, hear, and interact with remote participants in 3D as if they are actually present in the same physical space. HoloLens is preferred by leading automotive and aerospace OEMs, including Ford (US), Volvo (Sweden), Toyota (Japan), and Airbus (Netherlands), to support production operations such as designing, assembling, quality assurance, and employee training. Unique product features help the company to cater to untapped applications. The company focuses on developing new products and services and entering new geographic markets to drive the broad adoption of its products and services.

Google (US) secured the second place in the industrial wearables market in 2018 is a global technology company offering hardware products, internet products, online advertising services, internet and TV services, licensing services, and R&D services. For wearables, the company is focused on fulfilling the demand for AR glasses in industrial applications rather than consumer applications. The company invested significantly in R&D activities, which, in turn, resulted in the introduction of Glass Enterprise Edition 2 with better capabilities, such as support for computer vision and advanced machine learning. The company achieves a competitive edge in the industrial wearables market by offering AR glasses at a much lower cost than the glasses offered by Microsoft.

Scope of the Report

Report Metric

Detail

Industrial Wearables Market Size Availability for Years

2016–2024

Base Year

2018

Forecast Period

2019–2024

Forecast Units

Value (USD)

Segments Covered

By Device Type, Component, Industry

Geographies Covered

North America, Europe, APAC, and RoW

Companies Covered

Microsoft (US), Google (US), Epson (Japan), Vuzix (US), and Magic Leap (US), among others.
A total of 20 players are covered.

This research report categorizes the industrial wearables market, By Device Type, Component, Industry, and Geography

Based on Device Type

  • AR glasses
  • VR headsets
  • Smartwatches
  • Smart bands
  • Other

Based on the Component:

  • Processors and memory modules
  • Optical systems and displays
  • Camera modules
  • Touchpads and sensors
  • Connectivity components
  • Electromechanicals, cases, and frames
  • Others

Based on the Industry:

  • Automotive
  • Aerospace & Defense
  • Manufacturing
  • Oil & gas
  • Power & energy
  • Chemicals
  • Others

Based on the Regions:

  • North America
  • Europe
  • APAC
  • RoW

Recent Developments

  • In June 2019, Magic Leap collaborated with Sketchfab (US), a company providing Sketchfab platform to publish, share, discover, buy, and sell 3D, VR, and AR content, to allow manufacturers to create extended reality (XR) content with javascript, and distribute it through the web on Magic Leap One, phones, tablets, desktops, and VR & AR headsets.
  • In June 2018, Epson launched Epson Moverio Assist, a remote assistance and inspection solution using Moverio’s smart glasses for the field tasks.
  • In May 2019, Google introduced Glass Enterprise Edition 2, a new version of Glass Enterprise Edition. The Glass runs on Qualcomm’s Snapdragon XR1 chip, Android Oreo operating system, 8-megapixel camera with 80-degree FOV, and 640υ360 optical display.
  • In April 2019, Vuzix entered into an agreement with Eaton (US), to develop an ATEX smart glasses solution, which is designed to sustain in harsh environments in the workplace caused by flammable gases, mists, or vapors or by combustible dust.
  • In February 2019, Microsoft, at Mobile World Congress (MWC) Barcelona 2019, introduced Microsoft HoloLens 2.

Key Questions Addressed by the Report

  • Which are the leading industries in the industrial wearables market?
  • Which device type would lead the market during the forecast period?
  • What strategies are adopted by industrial wearables players to stay ahead in the market?
  • What are the growth perspectives of this market in different regions?
  • What are drivers, opportunities, restraints, and challenges that influence the growth of market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 19)
    1.1 Study Objectives
    1.2 Market Definition and Scope
           1.2.1 Inclusions and Exclusions
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 24)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Data From Primary Sources
                    2.1.2.3 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Capturing Market Size By Bottom-Up Analysis (Demand Side)
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing Market Size By Top-Down Analysis (Supply Side)
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 34)

4 Premium Insights (Page No. - 39)
    4.1 Attractive Opportunities in Industrial Wearables Market
    4.2 Market, By Device Type
    4.3 Market in North America, By Device Type and Industry
    4.4 Country-Wise Growth Rate of Market

5 Market Overview (Page No. - 42)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 High Requirement for Effective Communication and Collaborative Working Environment
                    5.2.1.2 Increased Interests of Enterprises in Utilizing AR Technology Especially in Production ARea and VR Technology in Specifically in Training Domain
                    5.2.1.3 Technological Advancements and Automation in Manufacturing Plants
           5.2.2 Restraints
                    5.2.2.1 Data Security and Privacy Issues
           5.2.3 Opportunities
                    5.2.3.1 Rising Trend of Industry 4.0 and Smart Manufacturing
                    5.2.3.2 Growing Significance of Wearables in Warehouse Applications
           5.2.4 Challenges
                    5.2.4.1 Dearth of Skills and Expertise to Manage Connected Devices

6 Industrial Wearables Market, By Device Type (Page No. - 47)
    6.1 Introduction
    6.2 AR Glasses
           6.2.1 AR Glasses to Lead Market During 2019–2024
    6.3 VR Headsets
           6.3.1 VR Headsets are Used Primarily to Ensure Smooth Conduction of Employee Training
    6.4 Smartwatches
           6.4.1 Industrial Smartwatches Send Alerts About Required Tasks to Be Done and Improve Product Quality By Providing Accurate Information to Workers
    6.5 Smart Bands
           6.5.1 Smart Bands Help in Effective Management of Workers’ Health and Safety
    6.6 Others
           6.6.1 Smart Clothing
           6.6.2 Wearable Cameras

7 Industrial Wearables Market, By Component (Page No. - 72)
    7.1 Introduction
    7.2 Processors and Memory Modules
           7.2.1 Processors and Memory Modules Likely to Command Market in Coming Years
    7.3 Optical Systems and Displays
           7.3.1 Oled Displays Gaining Traction for Wearables
    7.4 Electromechanicals, Cases, and Frames
           7.4.1 Electromechanical Components Ensure Support and Rigidity of Devices
    7.5 Touchpads and Sensors
           7.5.1 Touchpads and Sensors Ensure Smooth Monitoring of Different Health Parameters and Functioning of Wearable Devices
    7.6 Connectivity Components
           7.6.1 Connectivity Components are Critical for Transmitting Data to Different Devices
    7.7 Camera Modules
           7.7.1 Increased Application of Camera Modules in Different Industrial Wearables
    7.8 Others

8 Applications of Industrial Wearables (Page No. - 77)
    8.1 Introduction
    8.2 Field Repair Services
    8.3 Operation and Assembly
    8.4 Employee Monitoring
    8.5 Warehouse Management
    8.6 Emergency Response
    8.7 Employee Training

9 Industrial Wearables Market, By Industry (Page No. - 79)
    9.1 Introduction
    9.2 Automotive
           9.2.1 Increasing Adoption of New Technologies to Improve Productivity and Quality Drives Market Growth
    9.3 Aerospace & Defense
           9.3.1 Need for Real-Time Assistance in Complex Assembly Operations Drives Demand for Industrial Wearables
    9.4 Manufacturing
           9.4.1 Industrial Wearables are Used to Reduce Downtime and Enhance Operational Efficiency
    9.5 Oil & Gas
           9.5.1 Critical Industries Require Safe Working Environment to Ensure Proper Functioning
    9.6 Power & Energy
           9.6.1 Growing Use of Wearable and AR Technologies to Increase Productivity and Reduce Workplace Hazards Augments Market Growth for Power & Energy
    9.7 Chemicals
           9.7.1 Rising Adoption of Industrial Wearables to Streamline Supply Chain Accelerates Growth of Market for Chemicals Industry
    9.8 Others

10 Geographic Analysis (Page No. - 103)
     10.1 Introduction
     10.2 North America
             10.2.1 US
                       10.2.1.1 Presence of Leading Providers of Industrial Wearables in Country to Propel Market Growth
             10.2.2 Canada
                       10.2.2.1 Adoption of Modern Technologies By Process and Discrete Industries to Provide Growth Opportunities to Canadian Market for Industrial Wearables
             10.2.3 Mexico
                       10.2.3.1 Implementation of Cutting-Edge Technologies to Create Prospects for New Technologies
     10.3 Europe
             10.3.1 Germany
                       10.3.1.1 German Automotive Industry, Being Early Adopter of Advanced Technologies, to Boost Growth of Industrial Wearables Market
             10.3.2 UK
                       10.3.2.1 Deployment of Smart Manufacturing and Industry 4.0 Technologies in Different Industries to Create Opportunity for Market
             10.3.3 France
                       10.3.3.1 Aerospace Industry in France Creates Ample Opportunities for Players in Industrial Wearables Market
             10.3.4 Italy
                       10.3.4.1 Collaborations and Strategic Partnerships Within Different Government Bodies Provide Chance to Italian Market to Grow
             10.3.5 Rest of Europe
     10.4 APAC
             10.4.1 China
                       10.4.1.1 Need to Adopt Effective Automation Strategy and Government Support to Facilitate Industrial Revolution Would Accelerate Demand for Industrial Wearables
             10.4.2 Japan
                       10.4.2.1 Automotive, Consumer Electronics, and Industrial Sectors Likely to Contribute Most to Market Growth in Japan
             10.4.3 India
                       10.4.3.1 Digital Transformation of Industries to Boost Industrial Wearable Market Growth in India
             10.4.4 South Korea
                       10.4.4.1 Government Support to Modernize Manufacturing Industry Open Doors for Market
             10.4.5 Rest of APAC
     10.5 RoW
             10.5.1 South America
                       10.5.1.1 Adoption of Technologies for Improving Industrial Supply Chain to Create Demand for Industrial Wearables
             10.5.2 Middle East & Africa
                       10.5.2.1 Implementation of Advanced Technologies in Oil & Gas and Mining Industries Offer Opportunity to Market

11 Competitive Landscape (Page No. - 118)
     11.1 Overview
     11.2 Market Ranking Analysis
             11.2.1 Product Launches
             11.2.2 Agreements, Partnerships, and Collaborations
             11.2.3 Expansions
             11.2.4 Acquisitions
     11.3 Competitive Leadership Mapping
             11.3.1 Visionary Leaders
             11.3.2 Dynamic Differentiators
             11.3.3 Innovators
             11.3.4 Emerging Players
     11.4 Strength of Product Portfolio
     11.5 Business Strategy Excellence

12 Company Profiles (Page No. - 126)
     12.1 Introduction
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
     12.2 Key Players
             12.2.1 Microsoft
             12.2.2 Google
             12.2.3 Epson
             12.2.4 Vuzix
             12.2.5 Magic Leap
             12.2.6 Apple Inc.
             12.2.7 Fujitsu
             12.2.8 Honeywell
             12.2.9 Oculus VR (Facebook)
               12.2.10 Samsung Electronics Co., Ltd.
     12.3 Right to Win
     12.4 Other Key Players
             12.4.1 Asus
             12.4.2 Fitbit
             12.4.3 Fossil
             12.4.4 HTC
             12.4.5 Olympus
             12.4.6 Optinvent
             12.4.7 RealWear
             12.4.8 Thirdeye
             12.4.9 Workerbase
             12.4.10 Zepcam

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 157)
     13.1 Discussion Guide
     13.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.3 Available Customizations
     13.4 Related Reports
     13.5 Author Details


List of Tables (107 Tables)

Table 1 Industrial Wearables Market, By Device Type, 2016–2024 (USD Million)
Table 2 Market for AR Glasses, By Industry, 2016–2024 (USD Million)
Table 3 Market for AR Glasses, By Region, 2016–2024 (USD Million)
Table 4 AR Glasses Market for Automotive Industry, By Region, 2016–2024 (USD Million)
Table 5 AR Glasses Market for Aerospace & Defense Industry, By Region, 2016–2024 (USD Million)
Table 6 AR Glasses Market for Manufacturing Industry, By Region, 2016–2024 (USD Million)
Table 7 AR Glasses Market for Oil & Gas Industry, By Region, 2016–2024 (USD Million)
Table 8 AR Glasses Market for Power & Energy Industry, By Region, 2016–2024 (USD Million)
Table 9 AR Glasses Market for Chemicals Industry, By Region, 2016–2024 (USD Million)
Table 10 AR Glasses Market for Other Industries, By Region, 2016–2024 (USD Million)
Table 11 Market for VR Headsets, By Industry, 2016–2024 (USD Million)
Table 12 Market for VR Headsets, By Region, 2016–2024 (USD Million)
Table 13 VR Headsets Market for Automotive Industry, By Region, 2016–2024 (USD Million)
Table 14 VR Headsets Market for Aerospace & Defense Industry, By Region, 2016–2024 (USD Million)
Table 15 VR Headsets Market for Manufacturing Industry, By Region, 2016–2024 (USD Million)
Table 16 VR Headsets Market for Oil & Gas Industry, By Region, 2016–2024 (USD Million)
Table 17 VR Headsets Market for Power & Energy Industry, By Region, 2016–2024 (USD Million)
Table 18 VR Headsets Market for Chemicals Industry, By Region, 2016–2024 (USD Million)
Table 19 VR Headsets Market for Other Industries, By Region, 2016–2024 (USD Million)
Table 20 Market for Smartwatches, By Industry, 2016–2024 (USD Million)
Table 21 Market for Smartwatches, By Region, 2016–2024 (USD Million)
Table 22 Smartwatches Market for Automotive Industry, By Region, 2016–2024 (USD Million)
Table 23 Smartwatches Market for Aerospace & Defense Industry, By Region, 2016–2024 (USD Million)
Table 24 Smartwatches Market for Manufacturing Industry, By Region, 2016–2024 (USD Million)
Table 25 Smartwatches Market for Oil & Gas Industry, By Region, 2016–2024 (USD Million)
Table 26 Smartwatches Market for Power & Energy Industry, By Region, 2016–2024 (USD Million)
Table 27 Smartwatches Market for Chemicals Industry, By Region, 2016–2024 (USD Million)
Table 28 Smartwatches Market for Other Industries, By Region, 2016–2024 (USD Million)
Table 29 Market for Smart Bands, By Industry, 2016–2024 (USD Million)
Table 30 Market for Smart Bands, By Region, 2016–2024 (USD Million)
Table 31 Smart Bands Market for Automotive Industry, By Region, 2016–2024 (USD Million)
Table 32 Smart Bands Market for Aerospace & Defense Industry, By Region, 2016–2024 (USD Million)
Table 33 Smart Bands Market for Manufacturing Industry, By Region, 2016–2024 (USD Million)
Table 34 Smart Bands Market for Oil & Gas Industry, By Region, 2016–2024 (USD Million)
Table 35 Smart Bands Market for Power & Energy Industry, By Region, 2016–2024 (USD Million)
Table 36 Smart Bands Market for Chemicals Industry, By Region, 2016–2024 (USD Million)
Table 37 Smart Bands Market for Other Industries, By Region, 2016–2024 (USD Million)
Table 38 Market for Other Devices, By Industry, 2016–2024 (USD Million)
Table 39 Market for Other Devices, By Region, 2016–2024 (USD Million)
Table 40 Other Devices Market for Automotive Industry, By Region, 2016–2024 (USD Million)
Table 41 Other Devices Market for Aerospace & Defense Industry, By Region, 2016–2024 (USD Million)
Table 42 Other Devices Market for Manufacturing Industry, By Region, 2016–2024 (USD Million)
Table 43 Other Devices Market for Oil & Gas Industry, By Region, 2016–2024 (USD Million)
Table 44 Other Devices Market for Power & Energy Industry, By Region, 2016–2024 (USD Million)
Table 45 Other Devices Market for Chemicals Industry, By Region, 2016–2024 (USD Million)
Table 46 Other Devices Market for Other Industries, By Region, 2016–2024 (USD Million)
Table 47 Industrial Wearables Market, By Component, 2016–2024 (USD Million)
Table 48 Market, By Industry, 2016–2024 (USD Million)
Table 49 Market for Automotive Industry, By Device Type, 2016–2024 (USD Million)
Table 50 Market for Automotive Industry, By Region, 2016–2024 (USD Million)
Table 51 Market in North America for Automotive Industry, By Country, 2016–2024 (USD Million)
Table 52 Market in Europe for Automotive Industry, By Country, 2016–2024 (USD Million)
Table 53 Market in APAC for Automotive Industry, By Country, 2016–2024 (USD Million)
Table 54 Market in RoW for Automotive Industry, By Region, 2016–2024 (USD Million)
Table 55 Market for Aerospace & Defense Industry, By Device Type, 2016–2024 (USD Million)
Table 56 Market for Aerospace & Defense Industry, By Region, 2016–2024 (USD Million)
Table 57 Market in North America for Aerospace & Defense Industry, By Country, 2016–2024 (USD Million)
Table 58 Market in Europe for Aerospace & Defense Industry, By Country, 2016–2024 (USD Million)
Table 59 Market in APAC for Aerospace & Defense Industry, By Country, 2016–2024 (USD Million)
Table 60 Market in RoW for Aerospace & Defense Industry, By Region, 2016–2024 (USD Million)
Table 61 Market for Manufacturing Industry, By Device Type, 2016–2024 (USD Million)
Table 62 Market for Manufacturing Industry, By Region, 2016–2024 (USD Million)
Table 63 Market in North America for Manufacturing Industry, By Country, 2016–2024 (USD Million)
Table 64 Market in Europe for Manufacturing Industry, By Country, 2016–2024 (USD Million)
Table 65 Market in APAC for Manufacturing Industry, By Country, 2016–2024 (USD Million)
Table 66 Market in RoW for Manufacturing Industry, By Region, 2016–2024 (USD Million)
Table 67 Market for Oil & Gas Industry, By Device Type, 2016–2024 (USD Million)
Table 68 Market for Oil & Gas Industry, By Region, 2016–2024 (USD Million)
Table 69 Market in North America for Oil & Gas Industry, By Country, 2016–2024 (USD Million)
Table 70 Market in Europe for Oil & Gas Industry, By Country, 2016–2024 (USD Million)
Table 71 Market in APAC for Oil & Gas Industry, By Country, 2016–2024 (USD Million)
Table 72 Market in RoW for Oil & Gas Industry, By Region, 2016–2024 (USD Million)
Table 73 Market for Power & Energy Industry, By Device Type, 2016–2024 (USD Million)
Table 74 Market for Power & Energy Industry, By Region, 2016–2024 (USD Million)
Table 75 Market in North America for Power & Energy Industry, By Country, 2016–2024 (USD Million)
Table 76 Market in Europe for Power & Energy Industry, By Country, 2016–2024 (USD Million)
Table 77 Market in APAC for Power & Energy Industry, By Country, 2016–2024 (USD Million)
Table 78 Market in RoW for Power & Energy Industry, By Region, 2016–2024 (USD Million)
Table 79 Market for Chemicals Industry, By Device Type, 2016–2024 (USD Million)
Table 80 Market for Chemicals Industry, By Region, 2016–2024 (USD Million)
Table 81 Market in North America for Chemicals Industry, By Country, 2016–2024 (USD Million)
Table 82 Market in Europe for Chemicals Industry, By Country, 2016–2024 (USD Million)
Table 83 Market in APAC for Chemicals Industry, By Country, 2016–2024 (USD Million)
Table 84 Market in RoW for Chemicals Industry, By Region, 2016–2024 (USD Million)
Table 85 Market for Other Industries, By Device Type, 2016–2024 (USD Million)
Table 86 Market for Other Industries, By Region, 2016–2024 (USD Million)
Table 87 Market in North America for Other Industries, By Country, 2016–2024 (USD Million)
Table 88 Market in Europe for Other Industries, By Country, 2016–2024 (USD Million)
Table 89 Market in APAC for Other Industries, By Country, 2016–2024 (USD Million)
Table 90 Market in RoW for Other Industries, By Region, 2016–2024 (USD Million)
Table 91 Market, By Region, 2016–2024 (USD Million)
Table 92 Market in North America, By Country, 2016–2024 (USD Million)
Table 93 Market in North America, By Industry, 2016–2024 (USD Million)
Table 94 Market in North America, By Device Type, 2016–2024 (USD Million)
Table 95 Market in Europe, By Country, 2016–2024 (USD Million)
Table 96 Market in Europe, By Industry, 2016–2024 (USD Million)
Table 97 Market in Europe, By Device Type, 2016–2024 (USD Million)
Table 98 Market in APAC, By Country, 2016–2024 (USD Million)
Table 99 Market in APAC, By Industry, 2016–2024 (USD Million)
Table 100 Market in APAC, By Device Type, 2016–2024 (USD Million)
Table 101 Market in RoW, By Region, 2016–2024 (USD Million)
Table 102 Market in RoW, By Industry, 2016–2024 (USD Million)
Table 103 Industrial Wearables Market in RoW, By Device Type, 2016–2024 (USD Million)
Table 104 Product Launches, 2018–2019
Table 105 Agreements, Partnerships, and Collaborations, 2019
Table 106 Expansions, 2017
Table 107 Acquisitions, 2018
 
 
List of Figures (49 Figures)
 
Figure 1 Process Flow of Industrial Wearables Market Size Estimation
Figure 2 Market: Research Design
Figure 3 Market: Bottom-Up Approach
Figure 4 Market: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Assumptions for Research Study
Figure 7 AR Glasses to Account for Largest Size of Market During Forecast Period
Figure 8 Processors and Memory Modules to Record Highest CAGR in Market, By Component, During 2019–2024
Figure 9 Automotive Industry to Lead Industrial Wearables Market During Forecast Period
Figure 10 APAC to Witness Highest CAGR in Market During Forecast Period
Figure 11 Rising Trends of Industry 4.0 and Smart Manufacturing to Provide Growth Opportunities to Market
Figure 12 AR Glasses to Hold Largest Market Size During Forecast Period
Figure 13 AR Glasses and Automotive Held Largest Share of North American Market, By Device Type and Industry, Respectively, in 2018
Figure 14 China to Register Highest CAGR in Industrial Wearables Market During 2019–2024
Figure 15 Market: Drivers, Restraints, Opportunities, and Challenges
Figure 16 Market Drivers and Their Impact
Figure 17 Market Opportunities and Their Impact
Figure 18 Market Restraints and Challenges and Their Impact
Figure 19 AR Glasses to Dominate Market During Forecast Period
Figure 20 Market for AR Glasses, 2016–2024 (Million Units)
Figure 21 Automotive Industry to Witness Highest CAGR in Market for AR Glasses From 2019 to 2024
Figure 22 North America to Hold Largest Share of Market for AR Glasses in 2024
Figure 23 APAC to Exhibit Highest CAGR in AR Glasses Market for Automotive Industry From 2019 to 2024
Figure 24 Industrial Wearables Market for VR Headsets, 2016–2024 (Million Units)
Figure 25 North America to Account for Largest Size of Market for VR Headsets in 2024
Figure 26 Market for Smartwatches, 2016–2024 (Million Units)
Figure 27 Market for Smart Bands, 2016–2024 (Million Units)
Figure 28 APAC to Register Highest CAGR in Market for Smart Bands From 2019 to 2024
Figure 29 Processors and Memory Modules to Hold Largest Size of Market in 2024
Figure 30 Industrial Wearables Market for Automotive Industry to Grow at Highest CAGR During Forecast Period
Figure 31 AR Glasses to Hold Largest Size of Market for Automotive Industry in 2024
Figure 32 APAC Market for Automotive Industry to Record Highest CAGR From 2019 to 2024
Figure 33 North America to Capture Largest Share of Market for Manufacturing Industry in 2024
Figure 34 APAC to Register Highest CAGR in Market for Oil & Gas Industry From 2019 to 2024
Figure 35 Market in APAC to Grow at Highest CAGR During 2019–2024
Figure 36 North America: Market Snapshot
Figure 37 Europe: Market Snapshot
Figure 38 APAC: Market Snapshot
Figure 39 Organic and Inorganic Strategies Adopted By Companies Operating in Industrial Wearables Market
Figure 40 Market Player Ranking, 2018
Figure 41 Market (Global) Competitive Leadership Mapping (2018)
Figure 42 Microsoft: Company Snapshot
Figure 43 Google: Company Snapshot
Figure 44 Epson: Company Snapshot
Figure 45 Vuzix: Company Snapshot
Figure 46 Apple Inc.: Company Snapshot
Figure 47 Fujitsu: Company Snapshot
Figure 48 Honeywell: Company Snapshot
Figure 49 Samsung: Company Snapshot

The study involved 4 major activities in estimating the size of the industrial wearables market. Exhaustive secondary research has been done to collect information on the market, the peer market, and the parent market. To validate these findings, assumptions, and sizing with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the total market size. After that, market breakdown and data triangulation methods have been used to estimate the market for segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as Hoovers, Bloomberg BusinessWeek, and Factiva have been referred to identify and collect information for this study. These secondary sources included annual reports, press releases and investor presentations of companies, white papers, certified publications, articles by recognized authors, gold-standard and silver-standard websites, regulatory bodies, trade directories, and databases.

Primary Research

The industrial wearables market comprises several stakeholders, such as manufacturers of industrial wearable devices, manufacturers of hardware components used in wearable devices, among others in the supply chain. The demand side of this market includes OEMs and end-user industries such as automotive, aerospace & defense, manufacturing, oil & gas, power & energy, chemicals, pharmaceuticals, and mining. Various primary sources from both the supply and demand sides of the market have been interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is as follows

Industrial Wearables Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the total size of the market. These methods have also been used extensively to determine the size of various subsegments in the market. The research methodology used to estimate the market size is as follows:

  • Key players in the industry and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • Players offering various types of industrial wearables are considered, their revenue for industrial wearables has been observed to arrive at global numbers.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market has been split into several segments and subsegments. To complete the entire market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides in market.

Report Objectives

  • To describe, segment, and forecast the overall size of the industrial wearables market, by device type, component, and industry, and region, in terms of value
  • To describe and forecast the market for various segments with regard to main regions, namely, North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW), in terms of value
  • To describe the applications of industrial wearables
  • To provide detailed information regarding major factors that include drivers, restraints, opportunities, and challenges influencing the growth of market
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and contribution to the overall market
  • To profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for market leaders
  • To analyze competitive developments, such as collaborations, agreements, partnerships, expansions, acquisitions, and product launches in market
  • To benchmark players within the market using proprietary "Competitive Leadership Mapping" framework, which analyzes market players on various parameters within the broad categories of business and product strategy

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Company Information:

  • Detailed analysis and profiling of additional market players
Report Code
SE 7454
Published ON
Nov, 2019
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