Enterprise wearable devices revenue to reach $55 bn in 2022

wearable-devices-for-enterprises-image-by-accentureRevenue from enterprise wearable devices such as smartwatches, smart glasses, and wearable scanners will reach $55 billion in 2022 from $10.5 billion in 2017 – at a CAGR of 39 percent, ABI Research said.

Growth driver for enterprise wearable devices are the needs to improve productivity, reduce errors, and save time training both new and seasoned workers. The implementation of supporting platforms is essential to ensure proper employee access, storage, and security of wearable device data.

“Wearables have much less in-built security and authentication protocols than other devices and so require robust security platforms to ensure data safety,” says Stephanie Lawrence, research analyst at ABI Research.

ABI Research said supporting platforms allow IT managers to assess what information the wearables have access to, monitor their usage, create customized applications, and control the devices.

Technology companies such as Augmate, PTC, Salesforce, Total Communicator Solutions, and Upskill provide such platforms to enterprises. These tech firm offer these platforms as SaaS (Software as a Service) or PaaS (Platform as a Service) and can come with a one-time set up fee with a monthly or yearly fee based on number of devices, users, and/or applications.

Most wearable platforms can be supported by enterprise mobility management (EMM) solutions, such as mobile device management, mobile application management, and mobile content management. ABI Research finds that the best supporting platforms supply several of these solutions to secure all data and devices.