Industrial Wearable Market Forecast and Growth 2031

Industrial Wearable Market Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: Product (AR Glasses, VR Headsets, Smartwatches and Smart Bands, Patches, and Others); Component (Processors and Memory Modules, Optical Systems and Displays, Electromechanical Components, Touchpads and Sensors, Connectivity Components, Camera Modules, and Others); End-User Industry (Automotive, Aerospace, Manufacturing, Oil & Gas, Energy & Power, and Others); and Geography

  • Report Code : TIPRE00008352
  • Category : Electronics and Semiconductor
  • No. of Pages : 150
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Industrial Wearable Market Growth Report | 2021 to 2031

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The industrial wearable market size is projected to reach US$ 13.51 billion by 2031 from US$ 5.42 billion in 2023. The market is expected to register a CAGR of 12.1% in 2023–2031. The evolution of Industry 4.0 and growing industrial automation are likely to remain a key industrial wearable market trends.

Industrial Wearable Market Analysis

The industrial wearable market is growing at a rapid pace due to the escalating need for employee monitoring and workplace safety and an increasing number of manufacturing plants worldwide. The market is expanding steadily, driven by the increasing demand for a collaborative working environment. Moreover, increasing demand for technologically advanced products and growing demand for smart manufacturing are providing lucrative opportunities for market growth.

Industrial Wearable Market Overview

Industrial wearables are useful devices specifically designed to improve workplace safety, productivity, and efficiency in industries including automotive, aerospace, manufacturing, oil & gas, energy & power, and others. These devices are comprised of extremely advanced electronic components to track actions, gather data, and offer personalized experiences based on the preferences and needs of their users. Additionally, they are designed to eliminate work-related hazards and let an employee do the task at hand more easily. Increasing workplace accidents across the globe increase the demand for industrial wearables among industries, thus creating significant growth opportunities for the market.

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Industrial Wearable Market: Strategic Insights

Industrial Wearable Market

  • CAGR (2023 - 2031)
    12.1%
  • Market Size 2023
    US$ 5.42 Billion
  • Market Size 2031
    US$ 13.51 Billion

Market Dynamics

GROWTH DRIVERS
  • Escalating Need for Employee Monitoring and Workplace Safety
FUTURE TRENDS
  • The evolution of Industry 4.0 and growing industrial automation
OPPORTUNITIES
  • Increasing Demand for Technologically Advanced Products

Key Players

  • Blackline Safety Corp.
  • Kenzen, Inc
  • Kinetic
  • MaKusafe
  • Modjoul, Inc.
  • Reactec Ltd.
  • Sleep Performance Inc.
  • Valencell. Inc.
  • Vuzix Corporation
  • Workaround GmbH (Proglove)

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Product
  • AR Glasses
  • VR Headsets
  • Smartwatches
  • Smart Bands
  • Patches
  • Others
Component
  • Processors
  • Memory Modules
  • Optical Systems
  • Displays
  • Electromechanical Components
  • Touchpads
  • Sensors
  • Connectivity Components
  • Camera Modules
  • Others
End-User Industry
  • Automotive
  • Aerospace
  • Manufacturing
  • Oil & Gas
  • Energy & Power
  • Others
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Industrial Wearable Market Drivers and Opportunities

Escalating Need for Employee Monitoring and Workplace Safety is Driving the Market

Many industries use robust machinery, complex systems, and powerful equipment throughout their production and manufacturing sites. These machinery and equipment are highly used physically by numerous industries such as mining, material processing, steel manufacture, and construction to effectively perform day-to-day activities. These industries are particularly vulnerable to damage from unforeseen errors and accidents, which increases the demand for effective monitory systems to enhance workplace safety is driving the market. Moreover, the rising occurrence of unplanned errors and accidents increases the demand for industrial wearables to promote workers' safety. These unplanned workplace mishaps can be prevented with the use of industrial wearables or other solutions that can monitor workers continuously. Additionally, the adoption of these items in this industry has been supported by the rapidly rising workplace-related safety requirements and laws.

Increasing Demand for Technologically Advanced Products - An Opportunity in the Industrial Wearable Market

The rapid improvements in technology and the increased emphasis on innovation and miniaturization are creating opportunities in the market. Organizations from a variety of industries are attempting to further consumerize IT by concentrating on wearables instead of smartphones and tablets. Industrial wearable support industries to keep an eye on critical health indicators and respond quickly in an emergency, which increases its adoption in industries. Moreover, IoT, AI, and cloud-based industrial wearables also deliver notifications and information instantly and viscerally, negating the need for warning lights or chimes.

Industrial Wearable Market Report Segmentation Analysis

Key segments that contributed to the derivation of the industrial wearable market analysis are product, component, and end-user industry.

  • Based on product, the industrial wearable market is divided into AR glasses, VR headsets, smartwatches and smart bands, patches, and others. The AR glasses segment held a larger market share in 2023.
  • On the basis of component, the industrial wearable market is divided into processors and memory modules, optical systems and displays, electromechanical components, touchpads and sensors, connectivity components, camera modules, and others. The optical systems and displays segment held a larger market share in 2023.
  • In terms of end-user industry, the industrial wearable market is categorized as automotive, aerospace, manufacturing, oil & gas, energy & power, and others. The automotive segment held a larger market share in 2023.

Industrial Wearable Market Share Analysis by Geography

The geographic scope of the industrial wearable market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.

In terms of revenue, the North America market accounted for the largest industrial wearable market share, due to the presence of leading players such as Vuzix Corporation, Blackline Safety Corp., and Kenzen, Inc. These players are engaged in technologically advanced wearables to offer enhanced safety to workers. The players are concentrating on creating a variety of wearables, particularly AR glasses and VR headsets, in order to satisfy the demands of diverse end-user industries. The market in North America is projected to grow during the forecast period, growing adoption of connected and digital technology by industries to improve operational productivity. Moreover, increasing demand for AR glasses in the automotive industry to automate car model setup, configuration, calibration, and quality inspection is boosting the market in North America.

Industrial Wearable Market Report Scope

Report Attribute Details
Market size in 2023 US$ 5.42 Billion
Market Size by 2031 US$ 13.51 Billion
Global CAGR (2023 - 2031) 12.1%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Product
  • AR Glasses
  • VR Headsets
  • Smartwatches
  • Smart Bands
  • Patches
  • Others
By Component
  • Processors
  • Memory Modules
  • Optical Systems
  • Displays
  • Electromechanical Components
  • Touchpads
  • Sensors
  • Connectivity Components
  • Camera Modules
  • Others
By End-User Industry
  • Automotive
  • Aerospace
  • Manufacturing
  • Oil & Gas
  • Energy & Power
  • Others
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Blackline Safety Corp.
  • Kenzen, Inc
  • Kinetic
  • MaKusafe
  • Modjoul, Inc.
  • Reactec Ltd.
  • Sleep Performance Inc.
  • Valencell. Inc.
  • Vuzix Corporation
  • Workaround GmbH (Proglove)
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    Industrial Wearable Market News and Recent Developments

    The industrial wearable market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for industrial wearable and strategies:

    • In April 2024, Vuzix Corporation received additional orders for Vuzix M400 smart glasses from a Fortune 100 global retailer to primarily support the warehousing and logistics needs of this customer. Vuzix smart glasses are now being used in multiple locations globally, including the US, Canada, Mexico, and throughout EMEA, and this customer continues to expand across an increasing number of their company locations since the start of 2024. (Source: Vuzix Corporation, Press Release, 2024)

    Industrial Wearable Market Report Coverage and Deliverables

    The “Industrial Wearable Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

    • Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
    • Market dynamics such as drivers, restraints, and key opportunities
    • Key future trends
    • Detailed PEST/Porter’s Five Forces and SWOT analysis
    • Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
    • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
    • Detailed company profiles
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Product ; End-User Industry ; Component

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

    Frequently Asked Questions


    What is the incremental growth of the global industrial wearable market during the forecast period?

    The incremental growth expected to be recorded for the global industrial wearable market during the forecast period is US$ 8.08 billion.

    What will be the market size of the global industrial wearable market by 2031?

    The global industrial wearable market is expected to reach US$ 13.51 billion by 2031.

    Which are the key players holding the major market share of the global industrial wearable market?

    The key players holding majority shares in the global industrial wearable market are Blackline Safety Corp., Kenzen, Inc., Kinetic, MaKusafe, and Modjoul, Inc.

    What are the future trends of the global industrial wearable market?

    The evolution of Industry 4.0 and growing industrial automation to play a significant role in the global industrial wearable market in the coming years.

    What are the driving factors impacting the global industrial wearable market?

    The escalating need for employee monitoring and workplace safety and an increasing number of manufacturing plants worldwide are the major factors that propel the global industrial wearable market.

    What is the estimated market size for the global industrial wearable market in 2023?

    The global industrial wearable market was estimated to be US$ 5.42 billion in 2023 and is expected to grow at a CAGR of 12.1% during the forecast period 2023 - 2031.

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