The global enterprise applications market revenue is expected to expand at a lucrative CAGR over the forecast period. Increasing enterprise applications of Augmented Reality (AR) and Virtual Reality (VR) across the globe is a key factor expected to drive growth of the global enterprise wearable market over the forecast period.
The global enterprise wearable market report has been segmented on the basis of product, technology, application, and region.
On the basis of product, the target market is segmented into wrist-wear, eyewear, headwear, and others (footwear, arm wear). The wrist-wear product segment is expected to account for highest share in the target market over the forecast period, owing to increasing adoption of wrist-wear devices in various applications for activity tracking, mobile payment, authentication, health monitoring, and identification.
On the basis of technology, the target market is segmented into Bluetooth, Internet of Things (IoT), and Bluetooth low energy (BLE). The Bluetooth technology segment is expected to dominate over the forecast period, owing to benefits such as connecting other electronic devices for medium range communication and at lower data rate.
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On the basis of application, the target market is segmented into infotainment, healthcare, IT and telecom, and others (manufacturing, retail, aerospace and defense). The IT and telecom application segment is expected to register highest CAGR over the forecast period, owing to increasing adoption of wearable technology in this industry for applications as time management, e-mails, staff communication, security access, etc.
Based on the region the global enterprise wearable market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is estimated to be highest share in terms of revenue over the forecast period, owing to advanced products development and increasing adoption of wearable technologies in various end-use industries in various countries in the region. The market in Asia Pacific is expected to register highest CAGR in terms of revenue over the forecast period.
Key players operating in the global enterprise applications market include Apple Inc., Alphabet Inc., Adidas AG, Eurotech SpA, Fitbit, Inc., Samsung Electronics Co., Ltd., Sony Corporation, Seiko Epson Corporation, Misfit, Inc., and Xiaomi Inc.