The global enterprise wearables market is anticipated to witness a widespread economy of scale due to applicative agility and permeating commercialization. The launch of the concept of Google Glass and Apple Watch has stimulated the genesis of wearables industry, which is further expected to transfigure the market over the forecast period. The key vendors are expected to clout favorable prospects that the enterprise wearable market is expected to offer over the forecast period. Growing inclination towards sophisticated gadgets with innovative features and new product developments in wrist wear and eyewear segments are anticipated to surface as major drivers for the enterprise wearables business. Surge in interest towards communication & network technologies and augmented reality displays unified with consumer wearables are expected to play a crucial role in the enterprise wearables market growth.
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Limited battery life and high power consumption of enterprise wearables are foreseen to encumber the wearables industry. Acquisition of enterprise gadgets requires sound technical expertise and a huge capital investment to operate, which is anticipated to serve as another restraint. One of the major challenges for wearables providers is the necessity for thermal consideration and device protection. Mounting applicability of smart wear is directly related to the market sales, consequently providing copious development prospects to the vendors.
Even though the challenge of enterprise gadgets adoption is an enormous task, the value of prompting such an arrangement in organization is expected to overshadow the imminent intricacies. The enterprise wearables market can be segmented by-product into foot wear, wrist wear, head wear, eye wear, and arm wear. Based on end-use, the wearable market can be segregated into healthcare devices, enterprise solicitation devices, and infotainment devices. Enterprise wearables can also be classified on the basis of functionality used into speech devices, sensor devices, positioning devices, and network devices
North America, particularly the U.S., is anticipated to occupy a significant portion of the enterprise wearables business. Asia Pacific and China regions are anticipated to witness steady progression at a normal distribution curve epitome.
Key enterprise wearables market players include Eurotech S.P.A, Olympus Corporation, Apple Inc., by-wire.net, Jawbone Inc., Adidas AG, AT&T Inc., Enocean GmbH, Samsung Electronics America, Inc., Nike Inc., Zoog Technologies Inc., Texas Instruments Inc., and Epson Corporation.
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