Industrial Wearable Market: An Overview
Wearable device is usually known as wearable technology or wearable gadgets. The device work independently or can be connected to a smartphone. The wearable device consist five main function that are interface, communication, data management, integrated circuits and energy management.
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Industrial wearable are lightweight computing devices designed to address the unique needs and to upgrade the workplace safety, productivity, efficiency of the organizations in sectors such as healthcare, logistics, manufacturing among others. The industrial wearable device are made up of highly sophisticated electronic component which tracks the activity, collects the data of the user.
The industrial wearable can be designed to assist the worker in performing specific task or to measure the health parameters for working in dangerous environment. Industrial wearable can be used for workforce authentication, field management, real time data monitoring. The industrial wearable devices are gaining more traction due to their advantages, such as operational efficiency, and portability.
Industrial Wearable Market: Drivers and Restraints
Adoption of HMT (head mounted tablet) is increasing demand of industrial wearable market
HMT is the hands-free wearable computer and is used to play video, augment the worker’s environment in real time, and look at work instructions. HMT is head wearable having the voice recognition system that swiftly respond to all commands, from recording video to contacting the control room. HMT is used to display work instruction, feed video to a remote trainer, play video of previous repair, data visualization. The HMT is also used to locate the injured workers and provide emergency evacuation procedures. Industries such as oil and gas industries is adopting the HMT for the training and for safety of the employee.
Increasing use of wearable devices by organization to engage employees in wellness program
Organizations are providing the wearable device to their employees so that the employees can measure how many steps taken and calories burned and also to measure the heart health, posture, stress and metabolism. The wearable devices help the employees get fit, healthy, and productive. Organizations are looking forward to new ways that can help to improve the wellness initiatives. The wellness program help reduce company healthcare cost and drive productivity and engagement.
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Eye tracking glasses for improving performance and safety
Eye tracking glasses helps to record the eye position and movement by analyzing the eye movement and gaze position in 2D and 3D environment. Eye tracking glasses is used to measure attention, interest, and arousal. Eye tracking glasses is used in various sectors such as marketing, medicine, education, engineering, psychology and gaming. Eye tracking glasses can help marketing professional for consumer research, psychologist to study behavior, doctors to diagnose illness.
Data Security Concern
Industrial wearable have transformed the traditional working process as it improves performance and safety of the employees. The wearable device has potential to track not only work information of employee but also the private information. This gives rise to privacy issues because the wearable device track the information to which the organization are not entitled.
High cost of wearable device and low battery life is restricting the growth of industrial wearable market
The high cost of wearable devices is one of major restraints that is restricting the growth of industrial wearable market. Manufacturers of wearable devices are selling the devices in the premium product category. Due to this reason the small and medium enterprises are unable to adopt the wearable device. Battery life is another challenge in the industrial wearable device. As the battery space is limited wearable device requires effective power management. Due to this issue many people connect the device with Bluetooth instead of Wi-Fi.
Industrial Wearable Market: Competition Landscape
Some of the prominent players in industrial wearable market are Epson, FitBit, Apple, Honeywell, Samsung, and Sony among others.
Industrial Wearable Market: Regional Overview
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Based on geography, North America, Europe holds significant market share, owing to factors such as health concern, employee safety. Moreover, Asia Pacific industrial wearable market is expected to grow due to factors such as tech-savy population and increasing awareness. Middle East & Africa are creating opportunities for industrial wearable market due to rising internet mobility.