Global Industrial Wearable Devices Market is Expected to Grow at a CAGR of 11.6% over the Forecast Period (2024 – 2034): A Report by The Niche Research
Wilmington, Delaware, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Industrial wearable devices refer to smart technology integrated into wearable items like helmets, glasses, and vests, designed for use in industrial environments. These devices improve worker safety, efficiency & productivity by delivering real-time data & analytics.
Applications include monitoring vital signs, tracking location, and providing hands-free access to information. For instance, smart helmets can offer augmented reality overlays for maintenance instructions, while wearable sensors track environmental conditions and worker fatigue. The market for industrial wearable devices is growing rapidly due to increasing demand for safety solutions and technological advancements. By improving operational efficiency and reducing risks, these devices are becoming essential tools in modern industrial settings.
Global Industrial Wearable Devices Market: Key Datapoints
| Market Value in 2023 | US$ 10.6 Bn |
| Market Value Forecast by 2034 | US$ 35.3 Bn |
| Growth Rate | 11.6% |
| Historical Data | 2016 – 2022 |
| Base Year | 2023 |
| Forecast Data | 2024 - 2034 |
Industrial Wearable Technology in Action
Industrial wearable technology encompasses a wide variety of gadgets, devices, and sensors, such as augmented reality (AR) glasses, exoskeletons, biometric sensors, and hearables. While these technologies serve different functions, they all share a common purpose: enhancing the capabilities of industrial workers to perform their tasks more effectively.
Crucially, these wearables play a significant role in ensuring workplace health and safety, offering substantial benefits to both employees and companies. This includes reduced costs, minimized unplanned downtime, improved injury prevention, and enhanced tools for risk assessment and mitigation.
For example, products like the Sarcos Robotics Guardian XO provide a glimpse into the future of industrial augmentation. This advanced exoskeleton merges human intelligence with mechanical power, boosting a worker's strength by up to 20 times. Beyond merely increasing strength, it also reduces strain and injury risk, particularly for those in hazardous work environments.
Smart Glasses to Dominate in Upcoming Years
Smart glasses are expected to dominate the industrial wearable devices market in the coming years. Manufacturers are continually innovating, introducing advanced features like augmented reality (AR) overlays, voice activation, and real-time data sharing. These innovations are transforming how workers access information, perform tasks, and maintain safety. For example, in February 2019, ZEISS launched the first multifunctional smart glass featuring transparent surfaces. This innovative technology can filter sunlight, measure temperature, and display various information. The smart glass is expected to evolve, offering capabilities such as illumination, identification, filtration, and projection, with potential applications in augmented reality and the automotive industry.
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Additionally, collaborations and partnerships between technology companies and industrial firms are accelerating the development and adoption of smart glasses. For instance, in June 2020, Google LLC acquired North Canada Devices ULC, a Canadian company renowned for its smart glasses, for USD 180 million. This acquisition is anticipated to enhance Google's technical expertise in AR-based smart glasses. By combining expertise, these partnerships are driving growth and expanding the capabilities of smart glasses, making them indispensable tools in various industries. As a result, the market is poised for significant expansion, with smart glasses leading the charge in enhancing productivity and safety in industrial environments.
North America Ruled the Industrial Wearable Devices Market in 2023
Advanced technology adoption and strong industrial infrastructure in the region is the factor stimulating the regional growth. The region is home to major manufacturers like Vuzix Corporation, Google LLC, and Honeywell International, which are at the forefront of innovation in wearable technology. These companies are developing cutting-edge solutions such as smart glasses, exoskeletons, and biometric sensors that enhance worker productivity and safety. For instance, In April 2019, Vuzix partnered with Eaton (U.S.) to create an ATEX smart glasses solution specifically designed to withstand harsh workplace environments characterized by flammable gases, mists, vapors, or combustible dust. The presence of key industries, such as manufacturing, oil and gas, and automotive, further fuels the demand for these devices. Additionally, collaborations between technology firms and industrial players in North America are accelerating the deployment of wearable technologies, solidifying the region’s leadership in this rapidly growing market.
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Following are the major companies active within the industrial wearable devices market:
- Apple Inc.
- AsusTek Computer Inc.
- Fitbit Inc.
- Forcite Helmet Systems Pty Ltd
- Fujitsu Limited
- Fusar Technologies Inc.
- Garmin Ltd.
- Google LLC
- Honeywell International Inc.
- Jawbone Health Hub Inc.
- Microsoft Corporation
- Nand Logic Corp.
- Nexsys Corporation
- Philips N.V
- Samsung Electronics Co., Ltd.
- SAP SE
- Seiko Epson Corporation
- Sony Corporation
- The Eurotech Group
- Vuzix Corporation
- Other Industry Participants
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Global Industrial Wearable Devices Market
By Device Type
- Smart Glasses
- Smart Helmets
- Smart Watches
- Smart Gloves
- Body Sensors
- Others
By Application
- Safety Monitoring and Alerts
- Training and Simulation
- Data Collection and Analysis
- Service and Maintenance
- Remote Assistance
- Asset and Inventory Management
- Compliance and Reporting
- Others
By End Use Sector
- Manufacturing
- Construction
- Logistics and Warehousing
- Mining
- Oil and Gas
- Others
By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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