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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.
Industrial Wearable Market by Type, Component, End Use Industry, and Region
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 Segments

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?

For any questions related to industrial wearable market or related to industrial wearable companies, industrial wearable market size, industrial wearable market share, industrial wearable analysis, write Lucintel analyst at email: helpdesk@lucintel.com we will be glad to get back to you soon.
Table of Contents
 
1. Executive Summary
 
2. Global Industrial Wearable Market: Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges 
 
3. Market Trends and Forecast Analysis from 2017 to 2028
3.1: Macroeconomic Trends (2017-2022) and Forecast (2023-2028)
3.2: Global Industrial Wearable Market Trends (2017-2022) and Forecast (2023-2028)
3.3: Global Industrial Wearable Market by Type 
3.3.1: AR Glasses
3.3.2: VR Headsets 
3.3.3: Smart Watches
3.3.4: Smart Bands 
3.3.5: Others
3.4: Global Industrial Wearable Market by Component  
3.4.1: Processors and Memory Modules
3.4.2: Optical Systems and Displays
3.4.3: Electromechanical Components
3.4.4: Touchpads and Sensors
3.4.5: Connectivity Components
3.4.6: Camera Modules
3.4.7: Others
3.5: Global Industrial Wearable Market by End Use Industry  
3.5.1: Automotive
3.5.2: Aerospace & Defense
3.5.3: Manufacturing
3.5.4: Oil & Gases
3.5.5: Power & Energy
3.5.6: Chemicals
3.5.7: Others 
 
4. Market Trends and Forecast Analysis by Region from 2017 to 2028
4.1: Industrial Wearable Market by Region
4.2: North American Industrial Wearable Market 
4.2.1: North American Industrial Wearable Market by Type: AR Glasses, VR Headsets, Smart Watches, Smart Bands, and Others 
4.2.2: North American Industrial Wearable Market by End Use Industry: Automotive, Aerospace & Defense, Manufacturing, Oil & Gases, Power & Energy, Chemicals, and Others
4.3: European Industrial Wearable Market  
4.3.1: European Industrial Wearable Market by Type: AR Glasses, VR Headsets, Smart Watches, Smart Bands, and Others
4.3.2: European Industrial Wearable Market by End Use Industry: Automotive, Aerospace & Defense, Manufacturing, Oil & Gases, Power & Energy, Chemicals, and Others
4.4: APAC Industrial Wearable Market  
4.4.1: APAC Industrial Wearable Market by Type: AR Glasses, VR Headsets, Smart Watches, Smart Bands, and Others
4.4.2: APAC Industrial Wearable Market by End Use Industry: Automotive, Aerospace & Defense, Manufacturing, Oil & Gases, Power & Energy, Chemicals, and Others
4.5: ROW Industrial Wearable Market  
4.5.1: ROW Industrial Wearable Market by Type: AR Glasses, VR Headsets, Smart Watches, Smart Bands, and Others
4.5.2: ROW Industrial Wearable Market by End Use Industry: Automotive, Aerospace & Defense, Manufacturing, Oil & Gases, Power & Energy, Chemicals, and Others
 
5. Competitor Analysis  
5.1: Product Portfolio Analysis  
5.2: Operational Integration  
5.3: Porter’s Five Forces Analysis   
 
6. Growth Opportunities and Strategic Analysis  
6.1: Growth Opportunity Analysis   
6.1.1: Growth Opportunities for the Global Industrial Wearable Market by Type 
6.1.2: Growth Opportunities for the Global Industrial Wearable Market by Component 
6.1.3: Growth Opportunities for the Global Industrial Wearable Market by End Use Industry 
6.1.4: Growth Opportunities for the Global Industrial Wearable Market by Region 
6.2: Emerging Trends in the Global Industrial Wearable Market   
6.3: Strategic Analysis   
6.3.1: New Product Development   
6.3.2: Capacity Expansion of the Global Industrial Wearable Market   
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Industrial Wearable Market      
6.3.4: Certification and Licensing   
 
7. Company Profiles of Leading Players  
7.1: Microsoft Corporation
7.2: Google
7.3: Vuzix
7.4: Magic Leap
7.5: Apple
7.6: Fujitsu
7.7: Honeywell International
7.8: Oculus
7.9: Samsung Electronics
7.10: Fitbit
7.11: HTC Corporation
7.12: Fossil Group
.

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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process. 
 

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