Wearable
sensors are devices that collect input information about the physical and
biological properties of the body and environment. Further this information is
utilized to do calculations which yields output information. Wearable sensors
are implanted in wearable devices to track fitness, environmental and health
activities such as heart rate, blood pressure, body temperature, stress level,
movements, speed, local temperature etc. Wearable sensors are used in
many devices such as fitness watch, smart shoes, glasses, VR headsets, jewelry
(rings), hearable, sleep mask, body wear and others. The key factors driving
the global wearable sensors market are compact size, low cost and
miniaturization of sensors. Further, technological integration of wearable
sensors with textiles is emerging trend in the market. Compact and advanced
product development and merger and acquisition are the major strategies which
the companies have adopted from the past 4-5 years. Innovation of specific
sensors such as PIQ Multi –Sport wearable sensor is expected to boost the
wearable sensor market in the upcoming years.
Market Size and forecast
The market
of wearable sensors is anticipated to grow at CAGR of 44.3% during the forecast
period 2017-2024. The global
wearable sensors market is valued at USD 297.6 million and expected to
garner USD 1,943.68 million by 2024.
Further, the market is expecting
gigantic rise in the demand due to the miniaturization of sensors and
advancement in healthcare industries. Further, the bolstering market of
smartphones is going to augment the integrated wearable devices. Currently,
North-America and Europe region are the largest market occupying more than 60%
market share in the global market. North-America is the leader in the global wearable
sensor market and it is anticipated to maintain the dominance during the
forecast period. Being a developed region, they encourage and adopt the new
innovations and technologies. Moreover, rising concern towards health and
fitness is another factor which is driving the market in North-America.
European market captures the second place in the global wearable sensor market.
With ongoing technological advancements and rise in demand of body wearable
devices, Europe is expected to witness a robust growth in the global sensors
market over the next five to six years.
On the
other hand, Asia-Pacific is the swiftest emerging market of wearable sensors.
The market of Asia-Pacific is driven by the increasing consumer awareness about
the benefit and usage of wearable devices and low cost of sensors. In forecast
period, Latin America is expected to showcase a remarkable rise in terms of
demand for wearable sensors. Further, the Middle East and Africa is anticipated
to witness a positive growth over the forecast period. Low cost of wearable
sensors is the major factor which is driving the wearable sensors market in
Latin America and The Middle East and Africa.
Market Segmentation
By Type
Accelerometers
Magnetometers
Gyroscopes
Chemical
Sensors
Image
sensors
Inertial
Sensors
Temperature
and Humidity sensor
Pressure
and force sensor
Touch
sensor
Motion
sensor
eCompass
Others (UV
index sensors, proximity sensors etc.)
By
Application
Wrist wear
Eyewear
Body wear
Footwear
Neckwear
Others
(finger wear, head wear etc.)
By End
user
Enterprise
& Industrial
Healthcare
Consumer
Others
(clinical, non-clinical, transportation, aerospace, defense etc.)
By Region
Based on
region, global wearable sensors market id further classified as follows:
North
America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity
Analysis
Latin
America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth &
Opportunity Analysis
Western
and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium,
Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth
& Opportunity Analysis
Asia-Pacific
(China, India, Japan, Singapore, Australia, New Zealand, South Korea & Rest
of Asia) Market size, Y-O-Y growth & Opportunity Analysis
Middle
East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis
Growth Drivers and Challenges
Low cost
of sensors, evolving advancement of technologies and rising consumer awareness
towards health are few factors which are driving the growth of global wearable
sensors market. In addition to that, growing smart clothes technology is
anticipated to boost the demand for wearable sensors. Moreover, rising
healthcare sector and integration of new technologies like emergency cardiac
arrest alarm and pre detection of diseases is expected to propagate the growth
of wearable sensor market.
However,
high cost of advanced technological sensors is likely to hamper the growth of wearable
sensors market globally. Likewise, less awareness among the population
towards smart wearable and low availability of wearable products in the market
are also some of the major factors which re restraining the growth of global
wearable sensor market.
Key Players
Robert
Bosch GmbH
Company
Overview
Key
Product Offerings
Business
Strategy
SWOT
Analysis
Financials
NXP
semiconductors (Freescale Semiconductor, Inc.)
Broadcom
Limited
ST
Microelectronics
Shimmer
technologies
Infineon
Technologies AG
Analog
devices Inc.
Texas
Instruments (Measurement Specialties, Inc.)
mCube,
Inc.
Knowles
Electronics
Scope and
Context
Overview
of the Parent Market
Analyst
View
Segmentation
The Global
Sensors Market is segmented as follows:
By Type
Market Size & Y-O-Y Growth Analysis
By
Application Market Size & Y-O-Y Growth Analysis
By End
User & Y-O-Y Growth Analysis
By Region
Market Size & Y-O-Y Growth Analysis
Market
Dynamics
Supply
& Demand Risk
Competitive
Landscape
Porter’s
Five Force Model
Geographical
Economic Activity
Key
Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent
Trends and Developments
Industry
Growth Drivers and Challenges
Key
Information for Players to establish themselves in current dynamic environment
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Daniel
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