Global Industrial Wearable Devices Market 2019 Demand, Forecast & Report

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Report Overview
Global industrial wearable devices market to reach a market value of around USD 5 billion
by the end of 2019. The increase in employee welfare programs in companies is driving the
growth of this market. Companies use wearables to track employees' health. The activity
data gathered from wearables like Fitbit wristbandsis then tied into health insurance policy
premiums or other incentive programs to reduce the company’s healthcare costs. For
instance, during 2015 more than 24,500 Fitbit fitness trackers were distributed among the
staff of British Petroleumin North America as a part of its incentive program.
The operational efficiencies associated with wearable devices is also driving the growth of
this market. Wearable devices used in the logistics sector helps in tracking of goods and
provides estimated time frames for delivery to the managers. For instance, in Amazon, the
sourcing personnel who work in warehouses wear GPS tags and have a handheld scanner.
These devices tell the workers the most efficientroute to take to collect an item for delivery.
Product segmentation and analysis of the industrial wearable devices market
• Smart glass
• Smartwatch
• Fitness tracker
Report Overview
Geographical segmentation and analysis of the industrial wearable devices market
• Europe
• North America
North America accounted for the largest market share of around 41% during 2014.
The report predicts this region to maintain its market dominance until the end of
2019, with a market value of USD 3,123 million.
Competitive landscape and key vendors
The global industrial wearable devices market is dominated by international
vendors. The competition in the market is expected to intensify during the forecast
period, with an increase in product/service extensions, innovations in technology,
and mergers.