The global enterprise wearable market is expected to reach $22.3 billion by 2025, according to a new study conducted by Grand View Research (www.grandviewresearch.com)

The high demand for enterprise wearable devices in the Asia Pacific region is anticipated to drive the industry growth over the next decade, says the research group. 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.

Grand View Research says industry players are investing significantly in research and development activities for product innovation, thus catering to the specific needs of the enterprise industry. They’re using strategies such as acquisition, partnerships, and collaborations to maintain market competencies, adds the research group.
The rising enterprise applications of Virtual Reality (VR) and Augmented Reality (AR) in the following years is expected to fuel the demand for wearable devices, such as smart eye wear 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 [Internet of Things] 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 the future generation value-added services by utilizing user-centric data.