TMCnet News
IoT-enabled Industrial Wearables Market - Drivers and Forecasts by TechnavioTechnavio analysts forecast the global IoT-enabled industrial wearables market to grow at a CAGR of over 10% during the forecast period, according to their latest report. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171111005025/en/ 
Technavio has published a new report on the global IoT-Enabled industrial wearables market from 2017-2021. (Graphic: Business Wire) The research study covers the present scenario and growth prospects of the global IoT-enabled industrial wearables market for 2017-2021. An IoT-enabled industrial wearable is a device that has IoT incorporated to make operations in industrial manufacturing and production facilities smooth. The rise in automation and IoT connected devices has significantly contributed to the growth of the global IoT-enabled industrial wearables market. Although companies in the industrial segment are apprehensive about including IoT-enabled devices in their product lines, they are steadily adopting these devices to support operations. The growth of the market is also being aided by the integration of new age technologies, such as augmented reality (AR), virtual reality (VR), Artificial Intelligence (AI), and Big Data with IoT-enabled industrial smart wearables. This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free. Technavio analysts highlight the following three factors that are contributing to the growth of the global IoT-enabled industrial wearables market:
Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more. Rising mega trends in digitalization and automation Digitization and automation have slowly been progressing in industries with a decrease in the cost of technology, increase in penetration of wireless devices, and rise in focus on increasing efficiency in the workplace. Players in the industrial sector are opting for complex automation processes to maximize their capacity use, monitor plant assets, and improve workplace safety. Kalle Deepak, a lead automation research analyst at Technavio, says, "While investments in automation have been on the rise in many countries, owing to the focus on increasing precision and efficiency, some of the nations, such as Japan and Germany, are employing automation due to employee shortage. The age group in which the majority of the population fall into in both the countries is above 60 years. This has led to the shortage of the working population." Increased focus on workplace safety and efficiency The increase in efficiency and productivity is one of the major drivers for the rise in the adoption of IoT connected wearable devices in industries. Wearable devices, such as smart glasses, use AR view of the plant site and machinery. The AR gives a view of the physical, real-world object whose elements are supplemented by computer-generated sensory input, such as graphics, video, sound, and GPS. "Wearable devices are also used to improve the workplace safety. Smart wearables are being used in industries, such as the construction and mining, which are prone to frequent accidents. Using smart wearables will eliminate the need for a worker to carry electronic equipment, such as tablets, smartphones, and cameras," adds Deepak. Growing adoption of smart sensors Smart sensors have been driving the adoption of wireless monitoring systems. The development of smart sensors and their implementation in IIoT have resulted in the increase in the adoption of IoT-enabled industrial smart wearables by companies. Unlike analytical sensors, the maintenance of smart sensors is relatively easy, and the latter has minimum downtime. Smart sensors provide system data as well as information on their status. They increase the reliability of systems by decreasing the repair cost and minimizing the time for sensor replacement. The fall in the price of smart sensors, combined with their ability to supply reliable and real-time data, has increased their demand. Top vendors: Browse Related Reports:
About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. If you are interested in more information, please contact our media team at [email protected].
View source version on businesswire.com: http://www.businesswire.com/news/home/20171111005025/en/ |
