Enterprise Wearables Market Size, Share, Growth & Forecast 2032

Enterprise Wearables Market Insights

According to the report published by Zion Market Research, the global Enterprise Wearables Market size was valued at USD 2.96 Billion in 2023 and is predicted to reach USD 11.83 Billion by the end of 2032. The market is expected to grow with a CAGR of 16.64% during the forecast period. The report analyzes the global Enterprise Wearables Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Enterprise Wearables industry.

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Global Enterprise Wearables Market: Overview

Enterprise wearables can be defined as digital assistant systems that can be directly worn on the body and assists in the workplace. It has become a game-changer in several industries across the world. From banking to the aerospace industry, enterprise wearables have made customers and employees more efficient. While working on daily tasks, the use of wearables has enabled enterprises to offer ease, flexibility, and convenience to their employees. They also can transform workflow and processes.

Global Enterprise Wearables Market: Growth Factors

The global enterprise wearables market is growing at a lucrative rate. Factors such as the rise in penetration of the Internet of Things (IoT) in numerous sectors, rise in demand for wearable devices from the healthcare & IT sector, and rapidly emerging sensor technology which has several applications in the wearable devices are spurring the growth of the global enterprise wearables market. A wide range of enterprise wearables is available which includes exoskeleton, headgear, bracelets, smart glasses, and smartwatches. These devices are coupled with sensors that can be used to perform a single function, for instance, monitoring the heart rate of the patients. The wearables enable the client and employees to stay connected to the data & company applications thus allowing them to communicate & work safely & efficiently.

The enterprise's wearables improve communication, increase worker productivity, increase job satisfaction, and minimizes safety risks. The enterprise wearables make employees valuable, reduces training time, and push against the drift of worker obsolescence. Thus, the verticals such as IT & telecom, banking, and aerospace are adopting enterprise wearables thereby surging the growth of the global market. Moreover, the increase in mergers & acquisitions of the key players to compete with peers, growing demand from small & mid-sized enterprises, and increase in investment for R&D activities are also the factors that are driving the growth of the market.

Furthermore, advancements in technology to bring novel products to the market is likely to boost the growth of the global enterprise wearables market during the forecast period. However, factors such as growing concerns of data security and the requirement of uninterrupted communication with the systems of the corporate may restrain the growth of the global enterprise wearables market.

The complete lockdown and restriction of personnel movement have limited the production of the wearables. The disruption in the supply chain led to a scarcity of raw materials whereas the social distancing and lack of labor have also impacted the growth of the market. With the fall in the revenue during the first half of the year 2020, most of the industries majorly focused on procurement activities and allowed the spending on essential goods. The global enterprise wearables market has experienced unprecedented effects due to the Covid-19 pandemic. However, with the wide application of enterprise wearables in healthcare, a steady growth rate will be observed in the market.

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Global Enterprise Wearables Market: Segmentation

The global enterprise wearables market is bifurcated based on the product, technology, application, and region.

Based on the product, the global enterprise wearables market is categorized into footwear, wristwear, arm wear, eyewear, and headwear.

Based on the technology, the global market is divided into Bluetooth Low Energy (BLE), Bluetooth, and IoT.

The application segment is split into healthcare, infotainment, IT & telecom, automotive, retail, and others.

Enterprise Wearables Market: Report Scope

Global Enterprise Wearables Market: Regional Analysis

Region-wise, North America is projected to hold for the maximum share in terms of revenue in the global enterprise wearables market over the forecast period. Factors such as an increase in adoption of advanced technologies, presence of major players, huge investment in R&D activities, and rise in demand for enterprise wearables are spurring the growth of the market in this region. Europe is the second largest market and is anticipated to account for a significant share in the market. The rise in penetration of the IoT in several sectors and highly established IT infrastructure are the major factors contributing to the growth of the market in this region. The market in Asia Pacific is estimated to grow rapidly owing to expanding infrastructure and growing interest of the major players to expand their business in this region.

Global Enterprise Wearables Market: Competitive Players

• Seiko Epson Corporation
• Eurotech S.p.A
• Adidas AG
• Samsung Electronics Co. Ltd.
• Apple Inc.
• Fitbit Inc.
• Xiaomi Inc.
• Alphabet Inc.
• Vuzix
• Microsoft

are some of the prominent players in the global enterprise wearables market.

The Global Enterprise Wearables Market is segmented as follows:

By product 

• footwear
• wristwear
• arm wear
• eyewear
• headwear

By technology 

• Bluetooth Low Energy (BLE)
• Bluetooth
• IoT

By application 

• healthcare
• infotainment
• IT & telecom
• automotive
• retail
• and others

Global Enterprise Wearables Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.