Industrial Wearables Market: Global Industry Size to Witness Healthy Growth by 2027

Evolve business intelligence, today has published a new market research report on “Industrial Wearables Market with COVID-19 impact, global and segmental analysis”. According to the report, the global industrial wearables market was valued at $ 1.58 billion in 2019 and is anticipated to grow at a CAGR of 13.75% from 2020 to 2027.

For more information on the report: https://evolvebi.com/product/industrial-wearables-market-analysis-and-global-forecast-2021-2028-with-covid-impact-analysis/

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the industrial wearables market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

In terms of COVID 19 impact, the industrial wearables market report also includes the following data points:
• COVID19 Impact on industrial wearables market size
• End-User/Industry/Application Trend, and Preferences
• Government Policies/Regulatory Framework
• Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
• Opportunity in the industrial wearables market

Analyst View
According to Nisha, Principal Analyst, Evolve Business Intelligence, “The COVID-19 pandemic has led governments worldwide to impose lockdown at the country level. Further, the travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is recurring since 2020. The limited parts supply due to cross-border restriction and production process, and reduction in the workforce, among others, have led to the shutting down of many OEMs. The product and supply of raw materials such as semiconductor goods have been on standstill in some cases due to the lockdown imposed by the government across the globe. This has negatively impacted the industrial wearable market during the COVID-19 pandemic”

Competitive Scenario
Some of the major Industrial Wearables players holding high market share include Fitbit, Koninklijke Philips N.V., Apple Inc., and Samsung. These players use new product development as a key strategy to gain significant market share to compete with market leaders.

Segmental Analysis
The global industrial wearables market is segmented based on Type and Application. Based on Type, the Headsets segment accounts for the highest share in 2019 while smartwatches are expected to grow considerably during the forecast period. Based on application, the automotive segment accounts for the highest share in 2019 and is expected to grow considerably during the forecast period.

Report Coverage
The study also contains a comprehensive value chain, as well as details on the key factors affecting the market growth (drivers, constraints, and opportunities). Furthermore, the report includes 10 key players in the industrial wearables market ecosystem that have been strategically profiled, along with the market ranking/share for major players. Under the company profile section, the company’s core competencies have been comprehensively analyzed, along with detailing the competitive landscape for the market players, and the strategies such as partnerships and collaboration, acquisitions, product launches and developments, contracts, and business expansion adopted by them to grow in the market.

The key players profiled in the report are:
• FITBIT
• KONINKLIJKE PHILIPS N.V.
• APPLE INC.
• SEIKO EPSON CORPORATION
• OMRON
• LG ELECTRONICS
• GOOGLE
• FOSSIL GROUP
• XIAOMI
• SAMSUNG ELECTRONICS
• Schneider Electric SE

To request a free sample report, click on the “Request Sample PDF” button on https://evolvebi.com/product/industrial-wearables-market-analysis-and-global-forecast-2021-2028-with-covid-impact-analysis/

Research Methodology
This research study makes substantial use of secondary sources, archives, and databases (such as annual reports, news releases, magazines, Trademap, company websites, and other paid databases) to classify and gather information valuable for this analysis. The entire process involves a review of top industry participants' financial records. Following the determination of the overall market size, the total market was divided into several segments and sub-segments, and this information was then verified through key industry specialists such as CEOs, directors, VPs, and marketing executives.

Report Objectives
• To define, describe, and forecast the industrial wearables market, in terms of value, segmented on the basis of indication, type, technology, and geography
• To forecast the market size across 4 key regions—Asia Pacific (APAC), North America, Europe, and Rest of the World (RoW)
• To provide detailed information regarding drivers, restraints, and opportunities, in the industrial wearables market
• To provide an overview of the value chain analysis pertaining to the industrial wearables industry
• To strategically analyze each segment and subsegment with respect to individual overall growth trends and their contribution to the overall industrial wearables market
• To analyze opportunities in the market by identifying high-growth segments of the Industrial Wearables market
• To profile key players in the industrial wearables market and comprehensively analyze their core competencies
• To analyze competitive developments such as partnerships, product launches and developments, contracts, and mergers and acquisitions carried out in the global industrial wearables market

Evolve Business Intelligence
C-218, 2nd floor, M-Cube
NH 48, Balitha, Vapi
Gujarat 396191
India

Email: sales@evolvebi.com
Website: https://evolvebi.com/

Evolve Business Intelligence is a market research, business intelligence, and advisory firm providing innovative solutions to challenging pain points of a business. Our market research reports include data useful to micro, small, medium, and large-scale enterprises. We provide solutions ranging from mere data collection to business advisory.
Evolve Business Intelligence is built on account of technology advancement providing highly accurate data through our in-house AI-modelled data analysis and forecast tool – EvolveBI. This tool tracks real-time data including, quarter performance, annual performance, and recent developments from fortune’s global 2000 companies.

This release was published on openPR.