Enterprise Wearable Market Size & Trends

The global enterprise wearable market size was valued at USD 147.85 million in 2023 and is projected to grow at a CAGR of 25.9% from 2024 to 2030. One of the key growth driving factors for this market includes increasing adoption of wearable products to enhance efficiency, improve safety at work, and optimize business workflows. The growing integration of the Internet of Things (IoT) across diverse industries has created a foundation for the seamless integration of wearable technology. IoT ensures real-time data collection and analysis to provide useful insights for performance improvements. Increasing availability and accessibility, rising focus on research & development, and new product launches backed by innovation are expected to fuel the growth of the global enterprise wearable market during the forecast period.

The advent of wearable digital assistants has transformed productivity across various industries. These innovative devices empower employees with health and safety benefits. From healthcare, IT services, sports, and adventure to retail and hospitality, enterprise wearables streamline and foster a responsive work environment. Ease of use, flexibility, and convenience are more factors anticipated to propel the adoption of enterprise wearable devices in the coming years.

Enterprise wearables integrate hardware and software components to offer convenient solutions to augment workplace efficiency and productivity. From a hardware perspective, these devices have features like long-lasting batteries, ruggedized designs for withstanding harsh environments, and integrated sensors for capturing real-time data. This data encompasses everything from biometric information for safety monitoring to environmental readings to optimize workflows. In industries such as shipping and fleet management, construction, facility management, and manufacturing, enterprise wearables are increasingly utilized to monitor employee’s common body symptoms and prevent events such as over-exertion, heat stress, falls, spillage, drowsiness, unfriendly customer encounters on remote locations and more.

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The software aspect is equally crucial in this industry, often incorporating functionalities such as voice-activated assistants for hands-free communication and application integration for seamless access to critical business data. While the technological landscape is evolving, demand for these devices continues to increase at a rapid rate to empower a mobile workforce with the tools to navigate a data-driven environment and achieve the desired outcome.

Enterprise Wearable Market Report Highlights

• Based on component, the hardware segment dominated the global industry and held revenue share of 56.5% in 2023.
• The software segment is projected to grow at the fastest CAGR during the forecast period. 
• The wristwear products segment accounted for the largest revenue share in 2023. The wristwear offers an inherent advantage for user comfort and ergonomics.
• The eyewear segment is expected to grow at the fastest CAGR over the forecast period.
• Based on technology, the Internet of Things (IoT) technology segment dominated the market in 2023.
• The Wi-Fi segment is expected to grow significantly over the forecast period. 
• Based on application, the healthcare segment accounted for the largest market revenue share in 2023. The growth is attributed to the nature of healthcare delivery, which requires constant monitoring and data collection.
• North America enterprise wearable market held largest revenue share of 36.0% of the global market in 2023.

Enterprise Wearable Market Segmentation

Grand View Research has segmented the enterprise wearable market report based on product, component, technology, application, and region:

Product Outlook (Revenue, USD Million; 2018 - 2030)

• Footwear
• Wrist wear
• Arm wear
• Eyewear
• Headwear
• Others

Component Outlook (Revenue, USD Million; 2018 - 2030)

• Hardware           
• Software            
• Services              

Technology Outlook (Revenue, USD Million; 2018 - 2030)

• IoT
• Wi-Fi
• Bluetooth
• Bluetooth Low Energy (BLE)
• Others

Applications Outlook (Revenue, USD Million; 2018 - 2030)

• Infotainment
• Sports & Adventure
• Healthcare
• IT and Telecom
• Manufacturing
• Retail & Hospitality
• Aerospace and Defense
• Others

Regional Outlook (Revenue, USD Billion; 2018 - 2030)

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
• Asia Pacific
  • Japan
  • India
  • China
  • Australia
  • South Korea
• Latin America
  • Brazil
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

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