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Enterprise Wearable Market To Reach $689.22Mn By 2030

Wearable Market To Reach $689.22 Million By 2030

January 2025 | Report Format: Electronic (PDF)

Enterprise Wearable Market Growth & Trends

The global enterprise wearable market size is expected to reach USD 689.22 million in 2030 and is projected to grow at a CAGR of 25.9% from 2024 to 2030. The high demand for enterprise wearable devices in the Asia Pacific region is anticipated to drive industry growth over the next decade. The aging population and rising chronic diseases, such as coronary heart diseases and diabetes, in countries such as China, India, and Japan would drive the demand for wearable technology in the region.

Industry players are investing significantly in research & development activities for product innovation, thus catering to the specific needs of the enterprise industry. They are using strategies such as acquisition, partnerships, and collaborations to maintain market competencies.

The rising enterprise applications of Virtual Reality (VR) and Augmented Reality (AR) in the following years are expected to fuel the demand for wearable devices, such as smart eyewear and head-mounted devices. This growth in demand may be attributed to advancements in the VR and AR technologies, which would help increase their connectivity and enterprises’ interaction with employees and consumers.

The increasing awareness regarding health and wellness, rising aging population, and chronic diseases such as heart attack and diabetes, globally, are favorable factors expected to support the demand for wearable devices over the forecast period.

The rising demand for IoT technology, owing to its wide application in various sectors such as healthcare, manufacturing, retail, and others, is foreseen to drive the growth of the enterprise wearable market. The IoT technology, along with wearable devices, would help organizations in the development and deployment of future generation value-added services by utilizing user-centric data.

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Enterprise Wearable Market Report Highlights

The IoT technology segment is expected to surpass the Bluetooth segment and dominate the market after 2023 as well. This growth may be attributed to the expected rise of widespread real-time applications of IoT technology in different industries globally over the next decade.
The demand for headwear devices is expected to gain momentum over the forecast period owing to their prospective applications in highly developing technologies such as VR and AR
The Asia Pacific region is predicted to emerge as the fastest-growing market owing to a significant rise in the number of adopters of medical wearable devices for monitoring bodily conditions, such as glucose level, a heart condition, temperature, sleep, and others, in countries such as China and India
The Wi-Fi segment is expected to grow significantly over the forecast period. Wi-Fi is known for its ability to facilitate robust and reliable data transmission
The increased focus on research and development activities for new product developments and upgrades of existing products to meet industry demands are the key trends adopted by the industry players