Industrial wearable devices are widely used to improve safety, productivity, and efficiency in industrial environments. These are increasingly gaining popularity in mining, manufacturing, and logistics. The tools make way for collection of data in real-time. These also cater to various user needs and organizational goals in a timely manner. These largely differ from consumer trends like fitness wearable and cater to industry verticals with promises such as better working conditions while operating in a dangerous working environments among others.
For example, recently Amazon tried the wearable technology in its warehouses where human being worked closely with robots and trackers helped coordinate activities for maximum efficiency, separation, and safety. Rising health insurance costs and potential liabilities also drive the use of industrial wearable, which revert back with critical information like tracking and monitoring operations. Innovative new technology in the market like baseball caps trackers for mining workers, smart glasses as an omnichannel sales enabler, and wearable cameras for law enforcement agencies are some prospects on the horizon.
Global Industrial Wearable Market: Notable Developments
Researchers from Drextel University have figured out how to substantiate more conductivity in functional fabric devices. The researcher used a newly coated yarn with a 2-dimensional carbon-based material called MXene to make conductive threads. The researchers used a deep coating method which promises a yarn strong enough for use in industrial knitting machines. It also promises a lack of degradation during wear and tear of the process with maximum conductivity quality.
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Diseases among livestock is a major concern for the food supply across the world. It is estimated that these diseases result in over $1 bn losses each year in the UK. Scotland’s national innovation center in collaboration with CENSIS has announced a vet-tech platform which targets these losses. The new program also aims to provide farmers with necessary tools to monitor diets of animals and in-take of pharmaceutical products like antibiotics, among others. The program will encourage growth of farm animals and prevent the spread of antibiotic resistance, a growing challenge in the industry.
Global Industrial Wearable Market: Drivers and Restraints
The rise of safety concerns in manufacturing, mining, and growth of wirless sensor technology are major drivers of growth for the industrial wearable market. Additionally, in the near future sectors like Agriculture are also expected to undertake several initiatives to integrate IoT technology to enable better monitoring for modern farming landscape. The global environmental concerns are expected to drive growth of various wireless sensors for monitoring, and inspection purposes. The growth of supporting technology like drone is already playing a major role in applications like sports broadcasts, wildlife protection, and is expected to pave way for further growth of industrial wearable in the near future.
Global Industrial Wearable Market: Geographical Analysis
The global industrial wearable market is expected to witness robust growth in North America region. The region home to several tech giants is witnessing a major interest in safety driven wearables in the industrial sector where automation is leading way for more productivity and better quality control processes. The growth of automation, the ever-rising demand for productivity, and liabilities associated with safety are expected to drive significant growth for the industrial wearable market.
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Among various sector, the construction sector is expected to emerge with major potential for growth for players in the industrial wearable market. The construction sector is also expected to pave way for growth of worldwide and specifically in Asia Pacific. India, China, and the US are expected to double the construction sector by 2030. The rising investment in the sector, and growing automation in the manufacturing sector is expected to drive growth of the industrial wearable market in Asia Pacific region.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.