Wearable Tech in Construction - Thematic Research

Wearable Tech in Construction - Thematic Research

Summary

This report provides a detailed analysis of wearable technology and its application in the construction industry.

Wearable tech, like the smart helmets developed by companies such as SmartCap Technologies, is helping to increase safety on construction sites. SmartCap measures workers’ fatigue levels and detects micro-sleeps, alerting them when they are in need of a break; likewise, other companies’ combination smart helmets are able to monitor wearers’ vital signs, such as their heart rate, and inform site managers of any critical incidents

Key Highlights

- The wearable tech industry was worth nearly $23bn in 2018 and will grow at a compound annual growth rate (CAGR) of 19% to reach $54bn by 2023, according to GlobalData forecasts.
- That growth will be driven by sales of smartwatches, which are gaining in popularity as the range of features they offer (which now includes cellular connectivity, health monitoring, and contactless payment) increases. In contrast, the popularity of fitness trackers is waning, due to their limited capabilities when compared to smartwatches.
- The wearable tech theme incorporates more than just wrist-worn devices. Smart earwear, or hearables, has become a more prominent category with the emergence of devices that incorporate voice-activated virtual assistants such as Apple’s Siri (which is available in the company’s second-generation AirPods, released in March 2019) and Google’s Assistant (integrated into the company’s Pixel Buds). Hearables also have the potential to match, or even exceed, the performance of smartwatches when it comes to providing health monitoring services

Scope

- This report explores wearable technology and its use cases in old and new contexts as well in construction.
- It identifies the winners and losers dominating the current technology theme, across the hardware, software, and services domains.
- It identifies power utilities and equipment manufacturers who are witnessing a huge opportunity with 3D printing.

Reasons to buy

- Understand the importance of adopting wearable technology in construction.
- A review of some of the case studies highlighting the growing capabilities of wearable in addressing business challenges across the industry.
- Identify and benchmark key companies and technology providers based on their exposure to wearable theme.