The Body Area Network Market is anticipated to increase at a CAGR of 11.7% from USD 9.1 billion in 2019 to USD 15.8 billion by 2024. The widespread use of smart devices for tracking physical fitness, the quick development of medical devices and communication technologies, encouraging government and hospital initiatives to promote digital healthcare, and the accessibility of reasonably priced fitness-tracking gear are some of the key factors propelling the growth of the Body Area Network Market.
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The Body Area Network Industry is dominated by companies like Apple Inc. (US), Fitbit (US), Samsung Electronics Co., Ltd. (South Korea), Garmin Ltd. (US), Fossil Group, Inc. (US), Xiaomi Corporation (China), Huawei Technologies Co., Ltd. (China), Casio Computer Co., Ltd. (Japan), LG Electronics Inc. (South Korea), Medtronic plc (US), Bragi (Germany), Polar Electro Oy (Finland) (US).
To increase their market share in the body area network market, these firms have implemented a variety of growth methods, including product launches, expansions, and partnerships and collaborations. The most prevalent methods used by significant players from 2018 to 2019 were partnerships and collaborations and product releases, which helped them strengthen their product portfolio and increase their client base.
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In 2018, Apple had the top spot in the market for body area networks. It sells watches, TVs, Macs, iPads, and iPhones. The Mac line of laptops and desktops includes models like the MacBook and iMac. The iPad line of multipurpose tablets, which includes the iPad Air and iPad Mini, is powered by the iOS operating system. iPhone is the company's series of cellphones based on the Apple iOS multi-touch operating system. Apple Inc. has a line of smartwatches running iOS that are available on the market for wearable technology. In April 2015, the business unveiled Apple Watch, its first wristwatch. With the aid of a straightforward wrist-worn device, this product enables customers to interact in novel ways and track their fitness and health using activity and training apps. For instance, the ECG app on the Apple Watch Series 4 can provide an ECG that resembles a single-lead electrocardiogram. In September 2018, Apple released the Apple Watch Series 4 with watchOS 5, featuring enhanced and communications functions, an electrical heart rate sensor that can take an electrocardiogram (ECG) using an ECG app, as well as an accelerometer and gyroscope.
In 2018, Fitbit came in second place in the Body Area Network Market. The company creates accessories and wearable things including watches, trackers, and other similar items. These tools provide real-time feedback while automatically tracking users' daily steps, calories burnt, distance travelled, and active minutes. The heart rate is tracked by Fitbit's health trackers in addition to counting the number of floors climbed and the quantity and quality of sleep. All of the company's products are sold through its distribution network, merchants' websites, a web store at fitbit.com, and Fitbit Health Solutions, which is the company's business-to-business division. More than 39,000 retail locations for Fitbit exist in 87 different nations. The company sells wearable devices as well as a variety of mobile dashboards and apps, including Fitbit Coach. The Fitbit platform integrates activity trackers and health data with software and services, such as a mobile app, an online dashboard, data analytics, and virtual coaching through customised workout regimens. Fitbit introduced four new devices in March 2019: the Fitbit Versa Lite Edition, Fitbit Inspire HR, Fitbit Inspire, and Fitbit Ace 2.
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