According to the latest report by IMARC Group, titled “Industrial Wearable Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, finds that the global industrial wearable devices market share exhibited strong growth during 2015-2020. Wearable devices, also known as wearables, refer to electronics that can be worn on the body as a part of clothing or as an accessory. The major advantage offered by these devices is their ability to connect to the internet and facilitate real-time data exchange. In recent years, the ubiquity of smartphones and internet connectivity has led to the proliferation of wearable device technology in both the consumer and industrial markets. In the industrial segment particularly, these devices offer huge opportunities for reducing error rate, improving work efficiency and enhancing safety of the workers. As a result, these devices are witnessing rapid uptake in various industry verticals ranging from retail to manufacturing.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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Global Industrial Wearable Devices Market Trends:
Wearable devices incorporate various sensors that can track data related to the user’s vital signs, fitness or location. The increasing R&D activities and integration of virtual reality and augmented reality in these devices have led to their usage in applications ranging from training of new employees to recovering motor functions during rehabilitation. Keeping this in view, the industry players are introducing wearables for industry specific applications. For instance, smart glasses are being developed for the healthcare sector so as to facilitate expert consultation, knowledge sharing and hands-free access to patient information. Similarly, health monitors are being used by companies for employees who work in hazardous environments such as mines, construction sites and various manufacturing facilities. Several companies are also providing fitness monitors as a part of their wellness programs where these monitors offer insights about the health status of an employee along with customized health advice. This is expected to enhance productivity and reduce the number of sick days. Looking forward, IMARC Group expects the global industrial wearable devices market to grow at a CAGR of around 9% during 2021-2026.
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Key Market Segmentation:
Competitive Landscape With Key Players :
Market Breakup by Product Type:
- Smart Glasses,
- Fitness Tracker
- Wearable Camera.
Market Breakup by Application:
- Warehouse Management,
- Service and Maintenance
Market Breakup by Industry
- Transport and logistics,
Market Breakup by Region:
- Asia Pacific
- Latin America
- Middle East and Africa.
Key Highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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