Market Dynamics
The market is driven by factors such as the rise in digitization and automation within industries and the emergence of Industry 4.0. But the high cost of wearable devices and technology will be hindering the market growth.
The growing adoption of smart sensors will offer several growth opportunities for market players. On the other hand, the rising cyber security issues will reduce the growth potential.
Company Profiles
The internet of things (IoT) enabled industrial wearables market report provides complete insights on key vendors including Ekso Bionics Holdings Inc., EUROTECH Spa, Fujitsu General Ltd., Generalscan Electronics Co. Ltd., Honeywell International Inc., Intellinium, Microsoft Corp., RealWear Inc., Seiko Epson Corp., and Vuzix Corp.
Competitive Analysis
The report includes the competitive analysis, which analyzes and evaluates the position of companies based on their industry position score and market performance score. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Market Segmentation
- By Product, the market is classified into hand-worn wearables, head-mounted wearables, and smart eyewear.
- By Geography, the market is classified as North America, Europe, APAC, South America, and MEA.
The hand-worn wearables segment generated maximum revenue in the market in 2020. The market growth in the segment will be significant during the forecast period, By geography, North America will have the largest share of the market. The region currently holds 42% of the global market share. The US is the key market for the internet of things (IoT) enabled industrial wearables market in North America. The market growth in North America will be faster than the growth of the market in other regions.
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