Europe Industrial Wearable Market Forecast to 2027 - COVID-19 Impact and Regional Analysis ByProduct (AR Glasses, VR Headsets, Smart watches and Smart Bands, Patches, Others); End-user Industry (Automotive, Aerospace, Manufacturing, Oil & Gas, Energy & Power, and Others); Component (Processors & Memory Modules, Optical Systems & Display, Electromechanical Components, Touchpads & Sensor, Connectivity Components, Camera Modules, and Others), and Country
Market Introduction
The industrial wearable can be defined as the set of products and solutions that facilitate a safer and work-friendly environment for industry personnel. Furthermore, the data-driven wearable products can be used for continuous monitoring and supervision of individuals to avoid damage to life and industrial asset from fatigue, unanticipated health condition, or other potential dangerous workplace conditions. Industrial wearable devices are functional tools designed to improve the productivity, safety, and efficiency of the businesses in sectors such as manufacturing, logistics, healthcare, and lifestyle. These devices are composed of highly sophisticated electronic components that collect data, track activities, and provide customized experiences according to the needs and desires of the users. Also, they are geared toward helping a worker perform the assigned task at hand more efficiently and reducing work-related accidents.
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Market Overview and Dynamics
The Industrial Wearable market in Europe is expected to grow from US$ 943.7 million in 2019 to US$ 2,762.6 million by 2027 at a CAGR of 14.7% from 2020 to 2027.
The manufacturing industry continues to witness a heavy investment towards adoption of various automated and smart industrial solutions. Additionally, the adoption of data driven solutions has gained major popularity among several leading manufacturers and enterprise owners to mitigate unanticipated errors, faults and damage through predictive techniques. The growing popularity of wearable products across different industrial application for monitoring fatigue, exhaustion, medical condition and fitness level of their personnel to minimize the workplace accidents is anticipated to provide substantial lucrative market growth opportunities across developed economies during the coming years. Moreover, the stringent government and regulator policies to minimize personnel-based workplace accidents is also anticipated to favor the market growth through continuous monitoring of the individuals. Thus, the manufacturing sector is poised to provide numerous profitable business opportunities for the market players during the forecast period.
Various fitness based wearable products such as fitness bands, smart watches, fitness patches and other products have gained an unprecedented popularity and boosted the market growth of wearable devices industry across the consumer electronics sector. As a result, the increase in scope of application of wearable devices across the industrial application has gained major traction especially in the past few years resulting in several market players venturing into the niche offerings to provide various smart and data driven wearable products for the end-user industries. The swift popularity of wearable devices such as smart glasses, patches, smart watches and helmets among other products have contributed significantly in their adoption and subsequent market penetration among various end-users for seamless monitoring and supervising of personnel workplace health.
Moreover, the devices ability to offer in-depth insights into data driven analysis has enabled the enterprise owners in making effective workplace policies and adopting practices that avoid fatigue or exhaustion among its employees. Thus, the growing popularity and adoption of wearable devices from consumer electronics sector continues to positively influence the growth of wearable devices for industrial applications.
Key Market Segments
Based on product type, the AR glasses segment accounted for the largest share in 2019. By end-user industry, the automotive segment accounted for the largest share in 2019. Based on component, the processors & memory modules accounted for the largest share in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources for industrial wearable market included in the report are company websites, annual reports, financial reports, national government documents, statistical database, among others. Major companies listed are Reactec Ltd., Fatigue Science, Vuzix Corporation, and among others.
Reasons to buy the report
- To understand the Europe industrial wearable market landscape and identify market segments that are most likely to guarantee a strong return
- To stay ahead by comprehending the ever-changing competitive landscape for the Europe industrial wearable market
- To efficiently plan M&A and partnership deals in industrial wearable market by identifying market segments with most promising probable sales
- To take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segments from the Europe industrial wearable market
- To obtain market revenue forecast for market by various segments from 2018-2027 in Europe region.
Europe Industrial Wearable Market Segmentation
Europe Industrial Wearable Market – by Product
- AR Glasses
- VR Headsets
- Smartwatches and Smart Bands
- Patches
- Others
Europe Industrial Wearable Market – by End-User Industry
- Automotive
- Aerospace
- Manufacturing
- Oil & Gas
- Energy & Power
- Others
Europe Industrial Wearable Market – by Component
- Processors & Memory Modules
- Optical Systems & Display
- Electromechanical Components
- Touchpads & Sensor
- Connectivity Components
- Camera Modules
- Others
Europe Industrial Wearable Market – by Country
- UK
- Germany
- France
- Italy
- Russia
- Rest of Europe
Company Profiles
- Reactec Ltd.
- Fatigue Science
- Vuzix Corporation
- Blackline Safety Corp.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Industrial Wearable Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Europe
4.3 Ecosystem Analysis
5. Industrial Wearable Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Necessity for Workplace Safety and Personnel Monitoring
5.1.2 Rising Awareness of Wearable Devices
5.2 Market Restraints
5.2.1 Limited Budget for Personal Protection Products
5.3 Market Opportunities
5.3.1 Huge Investment in Manufacturing Industry
5.4 Future Trends
5.4.1 Advancement in Technology Resulting in Robust Solution
5.5 Impact Analysis of Drivers and Restraints
6. Industrial Wearable – Europe Market Analysis
6.1 Industrial Wearable Market Overview
6.2 Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
7. Industrial Wearable Market Analysis – By Product
7.1 Overview
7.2 Industrial Wearable Market, By Product (2019 and 2027)
7.3 AR Glasses
7.3.1 Overview
7.3.2 AR Glasses: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
7.4 VR Headsets
7.4.1 Overview
7.4.2 VR Headsets: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
7.5 Smartwatches & Smart Bands
7.5.1 Overview
7.5.2 Smartwatches & Smart Bands: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
7.6 Patches
7.6.1 Overview
7.6.2 Patches: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
7.7 Others
7.7.1 Overview
7.7.2 Others: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
8. Industrial Wearable Market Analysis – By Component
8.1 Overview
8.2 Industrial Wearable Market, By Component (2019 and 2027)
8.3 Processors & Memory Modules
8.3.1 Overview
8.3.2 Processors & Memory Modules: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
8.4 Optical Systems & Display
8.4.1 Overview
8.4.2 Optical Systems & Display: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
8.5 Electromechanical Components
8.5.1 Overview
8.5.2 Electromechanical Components: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
8.6 Connectivity Components
8.6.1 Overview
8.6.2 Connectivity Components: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
8.7 Camera Modules
8.7.1 Overview
8.7.2 Camera Modules: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
8.8 Others
8.8.1 Overview
8.8.2 Others: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
9. Industrial Wearable Market Analysis – By End-user Industry
9.1 Overview
9.2 Industrial Wearable Market, By End-user Industry (2019 and 2027)
9.3 Automotive
9.3.1 Overview
9.3.2 Automotive: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
9.4 Aerospace
9.4.1 Overview
9.4.2 Aerospace: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
9.5 Manufacturing
9.5.1 Overview
9.5.2 Manufacturing: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
9.6 Oil & Gas
9.6.1 Overview
9.6.2 Oil & Gas: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
9.7 Energy & Power
9.7.1 Overview
9.7.2 Energy & Power: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
9.8 Others
9.8.1 Overview
9.8.2 Others: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
10. Europe Industrial Wearable Market – Country Analysis
10.1 Europe: Industrial Wearable Market
10.1.1 Europe: Industrial Wearable Market, by Key Country
10.1.1.1 UK: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.1.1 UK: Industrial Wearable Market, by Product
10.1.1.1.2 UK: Industrial Wearable Market, by Component
10.1.1.1.3 UK: Industrial Wearable Market, by End-user Industry
10.1.1.2 Germany: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.2.1 Germany: Industrial Wearable Market, by Product
10.1.1.2.2 Germany: Industrial Wearable Market, by Component
10.1.1.2.3 Germany: Industrial Wearable Market, by End-user Industry
10.1.1.3 France: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.3.1 France: Industrial Wearable Market, by Product
10.1.1.3.2 France: Industrial Wearable Market, by Component
10.1.1.3.3 France: Industrial Wearable Market, by End-user Industry
10.1.1.4 Italy: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.4.1 Italy: Industrial Wearable Market, by Product
10.1.1.4.2 Italy: Industrial Wearable Market, by Component
10.1.1.4.3 Italy: Industrial Wearable Market, by End-user Industry
10.1.1.5 Russia: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.5.1 Russia: Industrial Wearable Market, by Product
10.1.1.5.2 Russia: Industrial Wearable Market, by Component
10.1.1.5.3 Russia: Industrial Wearable Market, by End-user Industry
10.1.1.6 Rest of Europe: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.6.1 Rest of Europe: Industrial Wearable Market, by Product
10.1.1.6.2 Rest of Europe: Industrial Wearable Market, by Component
10.1.1.6.3 Rest of Europe: Industrial Wearable Market, by End-user Industry
11. Impact of COVID-19 Pandemic on Europe Industrial Wearable Market
11.1 Europe: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
13. Key Company Profiles
13.1 Reactec Ltd.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Fatigue Science
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Vuzix Corporation
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Blackline Safety Corp.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Workaround GmbH (ProGlove)
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Table 2. UK: Industrial Wearable Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 3. UK: Industrial Wearable Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 4. UK: Industrial Wearable Market, by End-user Industry –Revenue and Forecast to 2027 (US$ Million)
Table 5. Germany: Industrial Wearable Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 6. Germany: Industrial Wearable Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 7. Germany: Industrial Wearable Market, by End-user Industry –Revenue and Forecast to 2027 (US$ Million)
Table 8. France: Industrial Wearable Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 9. France: Industrial Wearable Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 10. France: Industrial Wearable Market, by End-user Industry –Revenue and Forecast to 2027 (US$ Million)
Table 11. Italy: Industrial Wearable Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 12. Italy: Industrial Wearable Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 13. Italy: Industrial Wearable Market, by End-user Industry –Revenue and Forecast to 2027 (US$ Million)
Table 14. Russia: Industrial Wearable Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 15. Russia: Industrial Wearable Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 16. Russia: Industrial Wearable Market, by End-user Industry –Revenue and Forecast to 2027 (US$ Million)
Table 17. Rest of Europe: Industrial Wearable Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 18. Rest of Europe: Industrial Wearable Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 19. Rest of Europe: Industrial Wearable Market, by End-user Industry –Revenue and Forecast to 2027 (US$ Million)
Table 20. List of Abbreviation
LIST OF FIGURES
Figure 1. Industrial Wearable Market Segmentation
Figure 2. Europe Industrial Wearable Market Overview
Figure 3. Europe Industrial Wearable Market – Product Analysis
Figure 4. Europe Industrial Wearable Market – Component Analysis
Figure 5. Europe Industrial Wearable Market – End-user Industry Analysis
Figure 6. Europe – PEST Analysis
Figure 7. Industrial Wearable Market – Ecosystem Analysis
Figure 8. Industrial Wearable Market Impact Analysis of Drivers and Restraints
Figure 9. Europe: Industrial Wearable Market – Revenue and Forecast to 2027 (US$ Million)
Figure 10. Industrial Wearable Market Revenue Share, by Product (2019 and 2027)
Figure 11. AR Glasses: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 12. VR Headsets: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 13. Smartwatches & Smart Bands: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 14. Patches: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 15. Others: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 16. Industrial Wearable Market Revenue Share, by Component (2019 and 2027)
Figure 17. Processors & Memory Modules: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 18. Optical Systems & Display: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 19. Electromechanical Components: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 20. Connectivity Components: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 21. Camera Modules: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 22. Others: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 23. Industrial Wearable Market Revenue Share, by End-user Industry (2019 and 2027)
Figure 24. Automotive: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 25. Aerospace: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 26. Manufacturing: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 27. Oil & Gas: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 28. Energy & Power: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 29. Others: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 30. Europe: Industrial Wearable Market Revenue Share, by Key Country (2019 and 2027)
Figure 31. UK: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 32. Germany: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 33. France: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 34. Italy: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 35. Russia: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 36. Rest of Europe: Industrial Wearable Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 37. Impact of COVID-19 Pandemic in European Markets
- Reactec Ltd.
- Fatigue Science
- Vuzix Corporation
- Blackline Safety Corp.
- Workaround GmbH (ProGlove)
- Save and reduce time carrying out entry-level research by the growth, size, leading players, and segments in the Europe Industrial Wearable market
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- Develops/modifies business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinizes in-depth market trends as well as key market drivers and restraints
- Enhances the decision-making process by understanding the strategies that underpin commercial interest with regard to client products, segmentation, pricing, and distribution