Global Enterprise Wearable Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Increasing advancements in sensor and bio-sensing technology, growing demand for IoT technology, rising healthcare awareness and mobile penetration are anticipated to drive the growth of Global Enterprise Wearable Market.
Global Enterprise Wearable Market is valued at USD 2.89 Billion in 2020 and expected to reach USD 14.09 Billion by 2027 with a CAGR of 25.4% over the forecast period.
The Wearable innovation expects to impact the fields of health and medicine, wellness, enterprise, education, maturing, disability, transportation, money, gaming, music, and so on. The objective is to easily enter the everyday lives of people and become a useful piece of them. Companies make use of wearable devices in a variety of forms. It is useful within healthcare for monitoring the bodies of patients and collating real-time data, sectors that commonly leverage virtual reality, such as education and engineering, use head-mounted displays to immerse end users in industry-related scenarios and other worlds. For example; for employees working for companies dealing in petroleum, wearable devices proves useful when it comes to track tools and backup components, while operating in usually dark, closed in environments. Enterprise wearable changed customary working cycle by giving top of the line usefulness to follow, access data, monitor and store automatically through associated devices like cards, tech-empowered cords, smart glasses and protective caps, and remote headsets. Association handles corporate health, field management, labor force validation, access ERP system, and mobile workforce management through big business wearable device. Wearable devices may include smart watch, ear buds, smart glasses and helmets. Contributions to wearables are continually improving. AI calculations are permitting the change of basic sensor contribution to more actionable health or activity information. Consumer health-tech, digital-physical interaction, personal monitoring, and physical validation are altogether arrangements that wearable will before long settle in a superior manner.
During Covid-19 pandemic, lockdown is so far the better solution being seen in many countries to control the diseases spread however it may hamper the enterprise wearable market. The electronics business saw a solid hit in the main quarter of 2020 as all manufacturing facilities, retail locations, and other supporting workplaces, distribution center and transportation has been closed down. In addition, pandemic circumstance made huge impact on the client's financial income as industries are shut because of recession, temporary work, lay off, and different issues that have arisen in the worldwide market. Apart from that, wearable devices assumes a vital role in such a case and is effective in following a scope of physical and physiological boundaries like body temperature, blood pressure, heart rate, sleep, breathing and a lot more which is driving interest for the worldwide wearable devices market. Advancements in technology and healthcare equipment are presently going ahead their own and helping us with battling the pandemic.
Global enterprise wearable market is segmented on the basis of product, technology, application and region & country level. Based upon product, enterprise wearable market is classified into eyewear, wrist-wear, headwear, and footwear and other. Based upon technology, the market is divided into internet of things (IoT), bluetooth and bluetooth low energy (BLE). Based on application, the enterprise wearable market is classified into healthcare, IT and telecom, aerospace and defense and other.
The regions covered in this global enterprise wearable market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of enterprise wearable market is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Some major key players for global enterprise wearable market report cover prominent players Alphabet Inc., Samsung Electronics Co. Ltd., Xiaomi Inc., Fitbit Inc., Eurotech S.p.A, Apple Inc., Adidas AG, Seiko Epson Corporation and others.
emids Acquired Quovantis Technologies in Latest Expansion of Human-Centered, Design-Led Product Development and Software Engineering Capabilities.
April 8th, 2021; emids, a leader in digital engineering and transformation solutions to the healthcare and life sciences industry announced the acquisition of Quovantis Technologies, an honor winning client experience plan and programming advancement organization that empowers health innovation and item organizations to convey convincing computerized encounters for web, mobile and wearables. emids considers this to be an increasingly significant capacity in the middle and start of COVID-19, where emids' profound medical services space aptitude places its accomplices at a particular upper hand in bringing mobile, web, cloud and arising innovation solutions for market quicker.
One of the major factors driving the growth of global of enterprise wearable market are increasing advancements in the sensor technology. The developing responsiveness to the safety and security of laborers will fill in as a central point driving interest for brilliant attire for ventures. Due to the security reasons of workers there is rising demand of wearable enterprise in oil and mining industry. In addition, the growth of enterprise wearable market is also increasing due to the growing advancements in bio-sensing technology. Advancements in bio-sensing technology are relied upon to assist key members with growing organizations scope in medical services application to monitor health parameters. The interest towards biosensors is expanding attributable to wide use in clinical care and medication. Also, biosensors have arisen in a few fields like detection of infection diagnosis, human wellbeing and patient health monitoring also help in robust growth in the future. Furthermore, rising healthcare awareness and mobile penetration also drive the growth of global enterprise wearable market. In health care industry, different wearable devices are used for monitoring the patient activities such as heart rate, temperature. And others. However, high initial cost and rising data security and privacy concern may hamper the market growth. In spite of that, enterprise wearable are easy to use, flexible and multi-featured which can offer more opportunities for the further growth of the enterprise wearable market.
North America is expected to dominate the global enterprise wearable market rising adoption of IoT wearables and technological advancements across various industries in this region. The America represent the biggest portion of the overall market in 2015, basically as a result high demand of wearable innovation items in the U.S. The U.S., being a leading market, holds the biggest portion of the market in the Americas.
Asia Pacific is expected to witness a high growth rate due to the region is relied upon to enlist quickest development in terms of revenue over the forecast period, attributable to expanding rate chronic diseases such as diabetes and heart illnesses. As the region is highly industry oriented, wearable tech organizations can focus on the petrol mining, automotive, and coordination’s ventures dependent on the risk forced by the workplace. The digital revolution, industry 4.0, smart manufacturing, and development in wearable gadget strategy can impact the market development in this region.
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2027|
|Market Size in 2020:||USD 2.89 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2027:||USD 14.09 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Alphabet Inc., Samsung Electronics Co. Ltd., Xiaomi Inc., Fitbit Inc., Eurotech S.p.A, Apple Inc., Adidas AG, Seiko Epson Corporation and others|
|Segments Covered||By Product, By Application, By Technology|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
By Regional & Country Level:
Middle East and Africa
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