Executive Summary

The global B2B enterprise and industrial wearables market is projected to grow significantly in the coming years, driven by the increasing demand for wearable technology in industrial and enterprise settings. The market is characterized by the presence of several key players, each with their own strengths and weaknesses. The market is also highly competitive, with players vying for market share through innovative product offerings and strategic partnerships.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights

The global B2B enterprise and industrial wearables market is projected to grow at a CAGR of 15% during the forecast period (2021-2026). The market is being driven by several key factors, including the increasing adoption of IoT and connected devices, the rising demand for hands-free devices, and the need for improved safety and productivity in industrial and enterprise settings.

Smart glasses are expected to be the fastest-growing segment of the market, driven by their ability to provide workers with real-time information and remote assistance. The healthcare industry is expected to be the largest end-user of B2B enterprise and industrial wearables, due to the increasing demand for wearables in patient monitoring and healthcare management.

The market is also characterized by several challenges, including data privacy concerns, limited battery life, and high costs associated with deploying wearables at scale. However, advancements in technology are expected to overcome these challenges and drive further growth in the market.

Market Drivers

Increasing adoption of IoT and connected devices: The increasing adoption of IoT and connected devices in various industries is driving the demand for B2B enterprise and industrial wearables. Wearable devices can be used to gather and transmit data in real-time, providing workers with valuable insights that can be used to improve productivity, safety, and efficiency.

Rising demand for hands-free devices: Hands-free devices, such as smart glasses and head-mounted displays, are becoming increasingly popular in industrial and enterprise settings. These devices allow workers to access information and perform tasks without using their hands, enabling them to be more productive and efficient.

Need for improved safety and productivity: Safety and productivity are critical concerns in industrial and enterprise settings. B2B enterprise and industrial wearables can improve safety by providing workers with real-time alerts and notifications, and can improve productivity by providing workers with access to important information and resources.

Market Restraints

Data privacy concerns: Wearable devices are capable of gathering and transmitting sensitive data, raising concerns about data privacy and security. Companies must take steps to ensure that data is collected and transmitted securely, and that workers are trained to use the devices in a responsible manner.

Limited battery life: The limited battery life of wearable devices can be a challenge in industrial and enterprise settings where workers may need to use the devices for extended periods of time. This can impact productivity and reduce the effectiveness of the devices.

High costs associated with deploying wearables at scale: Deploying wearables at scale can be expensive, particularly for small and medium-sized businesses. The cost of purchasing devices, training workers, and maintaining the devices can be a barrier to adoption for some companies.

Market Opportunities

Growing demand for wearable cameras: Wearable cameras are becoming increasingly popular in industrial and enterprise settings, particularly in industries such as law enforcement, security, and construction. These devices can be used to capture and transmit real-time video footage, enabling workers to perform their jobs more effectively.

Increased adoption of exoskeletons: Exoskeletons are wearable devices that can assist workers in performing physical tasks, such as lifting heavy objects. The increasing adoption of exoskeletons in industries such as manufacturing and logistics is driving demand for B2B enterprise and industrial wearables.

Rising demand for remote assistance: Remote assistance technology, such as smart glasses, is becoming increasingly popular in industrial and enterprise settings. These devices enable workers to receive real-time assistance and guidance from remote experts, improving productivity and efficiency.

Market Dynamics

The global B2B enterprise and industrial wearables market is highly competitive, with several key players vying for market share. Companies are investing in research and development to create innovative products and improve the functionality and usability of existing products.

Strategic partnerships and collaborations are also common in the market, with companies partnering to create integrated solutions that meet the specific needs of their customers. For example, some companies are partnering with software providers to create customized software applications for their wearable devices.

Regional Analysis

The global B2B enterprise and industrial wearables market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America is expected to be the largest market for B2B enterprise and industrial wearables, driven by the presence of several key players and the increasing adoption of IoT and connected devices.

Asia-Pacific is expected to be the fastest-growing region, driven by the increasing adoption of wearable technology in industries such as manufacturing, logistics, and healthcare. China, in particular, is expected to be a key market for B2B enterprise and industrial wearables, due to the country’s large population and growing economy.

Competitive Landscape

Leading Companies in the Global B2B Enterprise and Industrial Wearables Market:

1. Apple Inc.
2. Google LLC (Alphabet Inc.)
3. Microsoft Corporation
4. Samsung Electronics Co., Ltd.
5. Vuzix Corporation
6. Zebra Technologies Corporation
7. Honeywell International Inc.
8. Fitbit, Inc.
9. Garmin Ltd.
10. RealWear, Inc.

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation

The global B2B enterprise and industrial wearables market is segmented on the basis of product type, application, and geography.

By product type, the market is segmented into smart glasses, smart watches, head-mounted displays, wearable cameras, and exoskeletons.

By application, the market is segmented into manufacturing, healthcare, logistics, construction, and others.

Category-wise Insights

Smart glasses are expected to be the fastest-growing segment of the market, driven by their ability to provide workers with real-time information and remote assistance. The healthcare industry is expected to be the largest end-user of B2B enterprise and industrial wearables, due to the increasing demand for wearables in patient monitoring and healthcare management.

Manufacturing is expected to be the second-largest end-user of B2B enterprise and industrial wearables, due to the growing demand for wearables in the manufacturing process to improve efficiency and productivity.

Key Benefits for Industry Participants and Stakeholders

B2B enterprise and industrial wearables offer several key benefits for industry participants and stakeholders, including:

Improved safety: Wearable devices can provide workers with real-time alerts and notifications, enabling them to respond quickly to potential hazards and prevent accidents.

Increased productivity: Wearable devices can provide workers with access to important information and resources, enabling them to perform their jobs more efficiently.

Cost savings: Wearable devices can help to reduce costs by improving efficiency and reducing the risk of accidents and injuries.

SWOT Analysis

Strengths:

• Wearable devices can improve safety, productivity, and efficiency in industrial and enterprise settings.
• The increasing adoption of IoT and connected devices is driving demand for B2B enterprise and industrial wearables.
• Strategic partnerships and collaborations are common in the market, enabling companies to create integrated solutions that meet the specific needs of their customers.

Weaknesses:

• Data privacy concerns and limited battery life are challenges associated with the deployment of wearable devices.
• High costs associated with deploying wearables at scale can be a barrier to adoption for some companies.

Opportunities:

• Growing demand for wearable cameras, exoskeletons, and remote assistance technology.
• Increasing adoption of B2B enterprise and industrial wearables in emerging markets.

Threats:

• Intense competition in the market, with several key players vying for market share.
• Rapidly changing technology and market trends.

Market Key Trends

Some of the key trends shaping the global B2B enterprise and industrial wearables market include:

Increasing demand for wearable cameras: Wearable cameras are becoming increasingly popular in industries such as law enforcement, security, and construction, where real-time video footage can be used to improve safety and efficiency.

Growing adoption of exoskeletons: Exoskeletons are wearable devices that can assist workers in performing physical tasks, such as lifting heavy objects. The increasing adoption of exoskeletons in industries such as manufacturing and logistics is driving demand for B2B enterprise and industrial wearables.

Rising demand for remote assistance: Remote assistance technology, such as smart glasses, is becoming increasingly popular in industrial and enterprise settings. These devices enable workers to receive real-time assistance and guidance from remote experts, improving productivity and efficiency.

Covid-19 Impact

The COVID-19 pandemic has had a significant impact on the global B2B enterprise and industrial wearables market. The pandemic has highlighted the importance of safety and efficiency in industrial and enterprise settings, driving demand for wearable devices that can help to improve both.

The pandemic has also led to an increase in remote work and remote assistance technology, such as smart glasses, which enable workers to receive real-time guidance and support from remote experts.

Key Industry Developments

Some of the key industry developments in the global B2B enterprise and industrial wearables market include:

• Honeywell International Inc. launched a new range of industrial wearables in 2020, including a new smart eyewear solution and a wearable scanner.
• Vuzix Corporation partnered with a leading medical technology company to develop a new wearable device for healthcare workers in 2021.
• Alphabet Inc. acquired Fitbit Inc. in 2019, signaling the company’s entry into the wearable technology market.

Analyst Suggestions

Analysts suggest that companies in the B2B enterprise and industrial wearables market should focus on developing innovative products that meet the specific needs of their customers. Strategic partnerships and collaborations can also help companies to create integrated solutions that provide value to their customers.

Companies should also prioritize data privacy and security, ensuring that data collected by wearable devices is transmitted and stored securely. Finally, companies should continue to invest in research and development to stay ahead of the competition and address emerging trends and challenges in the market.

Future Outlook

The global B2B enterprise and industrial wearables market is expected to continue growing in the coming years, driven by the increasing adoption of wearable technology in industrial and enterprise settings. Wearable devices are becoming increasingly popular due to their ability to improve safety, productivity, and efficiency, and advancements in technology are expected to overcome challenges such as data privacy concerns and limited battery life.

Smart glasses, wearable cameras, and exoskeletons are expected to be among the fastest-growing segments of the market, driven by the increasing demand for hands-free devices, real-time information, and physical assistance. The healthcare industry is expected to be the largest end-user of B2B enterprise and industrial wearables, due to the increasing demand for wearables in patient monitoring and healthcare management.

Conclusion

The global B2B enterprise and industrial wearables market is a rapidly growing and evolving market, driven by the increasing demand for wearable technology in industrial and enterprise settings. Companies in the market should focus on developing innovative products that meet the specific needs of their customers, and prioritize data privacy and security to ensure that data collected by wearable devices is transmitted and stored securely.

Smart glasses, wearable cameras, and exoskeletons are expected to be among the fastest-growing segments of the market, and the healthcare industry is expected to be the largest end-user of B2B enterprise and industrial wearables. Overall, the future outlook for the market is positive, with advancements in technology expected to overcome challenges and drive further growth in the market.