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Industrial Wearable Market is expected to reach US$ 8.63 Bn by 2027

07-12-2022 09:40 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: The Insight Partners

/ PR Agency: The Insight Partners
The Insight Partners

The Insight Partners

Industrial Wearable market report by "The Insight Partners" sheds light on the key drivers and opportunities attributing to market expansion over the analysis period. It also gives in-depth information pertaining to the challenges and threats poised to hinder revenue generation in the forthcoming years. Additionally, the report also provides crucial information regarding leading companies in this business sphere and the trends that are likely to prevail in the near future.

The global industrial wearable market is expected to reach US$ 8.63 billion in 2027, registering a CAGR of 15.0% during the forecast period 2020-2027.

Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis - https://www.theinsightpartners.com/sample/TIPRE00008352/?utm_source=OpenPR&utm_medium=10593

Industrial wearable's are functional tools designed to improve the productivity, safety, and efficiency of the businesses in sectors such as manufacturing, logistics, healthcare, lifestyle, etc. These devices are composed of highly sophisticated electronic components that collect data, track activities, and provide customized experiences according to the needs and desires of the users. Also, they are geared towards helping a worker perform the assigned task at hand more efficiently and reducing work-related accidents. Employers can collect data, track activities, and provide tailor-made experiences, depending on needs and desires. High demand for effective communication and collaborative work environment, increased interests of companies in the use of AR technology, particularly in the area of production and VR technology specifically in the area of training, and technological advancements and automation in manufacturing plants among the driving factors of the industrial wearables market.

Leading Industrial Wearable market Players: Blackline Safety Corp., Kenzen, Inc., Kinetic, MaKusafe, Modjoul, Inc., Reactec Ltd., Sleep Performance Inc., Valencell. Inc., Vuzix Corporation, Workaround GmbH (Proglove)

The industrial facilities and manufacturing sites generally deploy heavy equipment and machinery operating at high temperatures and pressure, subjected to other mechanical forces during their operations. As a result, various industries typically require efficient, robust, and durable protective gear to protect machine operator and staff. Thus, the industrial wearable is the set of products that facilitate a safer and worker-friendly environment. Further, the data-driven wearable products can also be used for continuous monitoring as well as supervision of individuals to avoid damage to life and industrial assets by tracking fatigue and unanticipated health conditions of employees, or other potentially dangerous workplace conditions.

Factors such as the growing popularity of wearable devices such as smart watches, smart glasses, patches, and fitness bands and rising demand for workplace safety has significantly facilitated the growth of the industrial wearable market. Moreover, the increase in awareness about workplace safety and stringent labor laws for different verticals are also expected to support the industrial wearable market growth in the coming years. However, the limited adoption of these products in price-sensitive markets, as well as SMEs, is restricting the market growth. In addition, the recent COVID-19 pandemic has significantly impacted the industrial activities and is projected to have a negative influence over market growth in the next couple of years. As a result, the industrial wearable market is anticipated to register a moderate annual year-on-year growth in the next few years due to the sectors attempting to recover from the unanticipated situations form this pandemic.

Market Insights
growing demand for workplace safety and personnel monitoring
Several industries deploy heavy-duty machinery, sophisticated systems, and powerful equipment across their manufacturing and production facilities. Thus, the assets in industries such as mining, material processing, steel manufacturing, and construction are subject to the damage caused by unanticipated errors and accidents, primarily due to physically enduring working conditions to employees. The use of industrial wearable devices or products capable of continuous monitoring of employees can help avoid such unanticipated workplace accidents. In addition to this, the growing young workforce among the working groups across various industries, along with a swift rise workplace-related safety standards and regulations, also has facilitated the adoption of these products in this sector.

Have a 15-minute-long discussion with the lead analyst and author of the report in a time slot decided by you. You will be briefed about the contents of the report and queries regarding the scope of the document will be addressed as well - https://www.theinsightpartners.com/speak-to-analyst/TIPRE00008352?utm_source=OpenPR&utm_medium=10593

Component-Based Market Insights
Based on component, the global industrial wearable market has been segmented into processors and memory modules, optical systems and displays, electromechanical components, connectivity components, camera modules, and others. The component plays a crucial role in effective functioning as well as maintenance of the wearable device during damage or period service. The optical systems and displays segment led the industrial wearable market in 2019 owing to their wide application in the popular wearable products, such as AR glasses and VR headsets. The processors and memory modules form an integral part for any wearable product as they process the sensory data for interoperation, along with storing it on the device in case for lack of wireless connectivity. These modules are commonly used in helmets, smart watches, bands, belts, and jackets, or in any specialized wearable device.

The report segments the global drain cleaning equipment market as follows:
Global Industrial Wearable Market - By Product
AR Glasses
VR Headsets
Smartwatches and Smart Bands
Patches
Others

Global Industrial Wearable Market - By Component
Processors & Memory Modules
Optical Systems & Display
Electromechanical Components
Connectivity Components
Camera Modules
Others

Global Industrial Wearable Market - By End-user Industry
Automotive
Aerospace
Manufacturing
Oil & Gas
Energy & Power
Others

Immediate delivery of our off-the-shelf reports and prebooking of upcoming studies, through flexible and convenient payment methods - https://www.theinsightpartners.com/buy/TIPRE00008352/?utm_source=OpenPR&utm_medium=10593

Reasons to Buy
• Save the time and resources required for entry level research by getting an insight into the leading players and segments of global Industrial Wearable market.
• The report highlights key business priorities which will help companies to reform their business strategies and establish themselves in the global market.
• The key findings and recommendations given in the report emphasize on crucial progressive industry trends in the Industrial Wearable market thereby enabling players to develop effective long term strategies in order to garner their market revenue.
• Gain crucial insights into global market trends and outlook and the factors driving and hindering market growth.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

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