Global Enterprise Wearable Market Value Projected to Expand by 2028

The global enterprise wearable market is anticipated to grow at a considerable CAGR during the forecast period (2022-2028). The rise in the adoption of Internet of things (IoT) analytics is anticipated to drive the growth of the enterprise wearable market. According to Global System of Mobile Association estimates, IoT connections are anticipated to reach 25 billion globally by 2025, from 10.3 billion in 2018. Moreover, as per the data published by Devpro Journals in 2020,  the New Eclipse Foundation IoT Commercial Adoption Survey found that approximately 40.0% of the organizations are using IoT and 22.0% more are projected to deploy IoT in the next two years. In addition, the survey also revealed that IoT investments are estimated to increase with 40.0% of the organizations planning to spend more on IoT solutions from 2020 to 2021.

The rise in the penetration of smart phones coupled with rapid internet connectivity is anticipated to drive the growth of the global enterprise wearable market. For instance, according to the data published by Global System for Mobile Association (GSMA) in 2020, smart phone penetration is anticipated to reach 80.0% by 2025, owing to shifts and changes in consumer behavior. Moreover, 70% of smart phones are anticipated to run on LTE, reflecting the influence of mobile internet generation. Further as per GSMA, by the end of 2019, 3.8 billion people were using mobile internet, with three-quarters of all mobile internet users living in low and middle-income countries.

Looking toward the demand for enterprise wearable’s, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in October 2021, Apple Inc launched Apple Watch Series 7. The apple watch series 7 offers indispensable tools for health and wellness including an electrical heart sensor and ECG app, and a blood oxygen sensor. Also, the watch 7 series allows users to stay healthy, active and connected through new workout types. The Apple Watch 7 series contains IP6X certification for resistance to dust and maintains WR50 water-resistant rating.

Further, in July 2021, One plus Technology Co. Ltd had launched One plus Cobalt Limited Edition Watch in India. The watch features a 1.39-inch HD AMOLED display. In addition, the watch consists of several health-focused features such as SpO2 monitoring, rapid heart rate alerts, stress detection, and sedentary reminders. Thus, such launches are anticipated to drive the growth of the global enterprise wearable market during the forecast period.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Technology
  • By End-User
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Adidas AG, Apple Inc., and Fitbit Inc., among others

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Enterprise Wearable Market Report by Segment

By Type

• Wrist Wear
• Eyewear
• Head Wear
• Others

By Technology

• Bluetooth
• Internet of things (IoT)

By End-User

• Offline
• Online
• Others
• Manufacturing
• Healthcare
• Retail
• Aerospace & Defense
• Others