B2B Enterprise & Industrial Wearables Market Size

Statistics for the 2023 & 2024 B2B Enterprise & Industrial Wearables market size, created by Mordor Intelligence™ Industry Reports. B2B Enterprise & Industrial Wearables size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of B2B Enterprise & Industrial Wearables Industry

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B2B Enterprise & Industrial Wearables Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 28.20 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration High

Major Players

B2B Enterprise & Industrial Wearables Market Major Players

*Disclaimer: Major Players sorted in no particular order

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B2B Enterprise & Industrial Wearables Market Analysis

The B2B Enterprise & Industrial Wearables Market is expected to witness a CAGR of 28.2% over the forecast period. B2B enterprise and industrial wearables devices are valuable tools for improving workplace productivity, safety, and quality in manufacturing, logistics, healthcare, and lifestyle. These devices are advanced electronic components that collect data, monitor behaviors, and provide personalized experiences based on user's needs and preferences.

  • The wearables market in an enterprise setup is in its infancy, with a significant share of the applications designated to enhancing customer experience. Wearables are extensively used to access customer data in real-time, view business analytics, and produce immersive customer experiences, factory operations, and training.
  • Global enterprise IT organizations have now recognized the benefits of wearables, thereby developing and providing businesses with a way to automate the deployment of modern applications at scale, which drives the demand for enterprise adoption with the growing mobile app ecosystem. Mobile apps can build loyal customer bases, provide insightful customer data, and more. Businesses should understand how these apps can enhance CX, especially if they maintain close contact with customers or business partners.
  • The demand for smart factory setups aids the growth of the wearables market. Governments worldwide are becoming aware of the significant potential of innovative manufacturing technologies. Therefore, they support and fund R&D for technologies such as IIoT and expect to become potential adopters of the technology and private firms. They financially support new IoT projects and implementations to build and run smart factory setups.
  • Technical obstacles such as longer operating times, which are currently constrained by battery life and the limitations of other power sources, the balance between faster data transmission (for real-time operations) and low power consumption, weight reduction, and biocompatibility are expected to hinder the growth of B2B wearables. Data privacy concerns may slow the adoption of wearables in the B2B setup, where sensitive data is circulated through a network of wearables.
  • The COVID-19 pandemic highly impacted the wearables market. The global prices of consumer electronics witnessed a rise initially owing to the partial clampdown on manufacturing facilities; critical components such as NFC chips and RFID tags faced a slowdown in their supply chain. However, the market was positively impacted post-pandemic, accelerating the rise of the digital economy, particularly wearable devices such as smartwatches.

Enterprise B2B Industrial Wearables Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)