From GlobeNewswire:

The industrial and commercial B2B wearable technology market is projected to grow at a CAGR of 27.50% from 2023-2031, reaching USD 70.42 billion. The increasing demand for enterprise wearables is driven by smartphone penetration and healthcare awareness. While the cost of these wearables and data protection issues are concerns, the market is expected to grow due to their ease of use and adaptability.

Business-focused smartphone apps and wearable technology are gaining popularity in the enterprise sector, enhancing organizational productivity and real-time decision-making. Wearable app developers provide essential services like application development, integration, and maintenance, making it easier for businesses to leverage technology.

Wearables are instrumental in smart factories and Industry 4.0, transforming traditional workers and machines into smart and connected ones. Industrial Internet of Things (IIoT) solutions, typically implemented as wearables, aim to increase operational effectiveness in industrial processes, according to Microsoft.

North America and Europe are leading the growth in the B2B enterprise industrial wearables market, with various factors such as increased internet usage, research expenditure, and initiatives driving adoption in these regions.

The global B2B enterprise industrial wearables market is segmented by device type and end-user industry, with wrist wears and the healthcare sector being the top contributors. North America and Europe are expected to be the fastest-growing regions in this market.

Major players in the market include Oculus VR LLC (Facebook), Alphabet Inc., Samsung Electronics Co. Ltd, and Apple Inc. In January 2023, RealWear unveiled the Next Generation Assisted Reality Headset for frontline professionals.

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