Wearable Sensors Market Overview
Market Research Future (MRFR) proclaims that the global wearable sensors market is estimated to register a striking CAGR of 16.9% during the forecast period. The continuously evolving sensor technology is favoring the market growth. The wearable sensor is referred to as a technological device which is worn by the individuals to track information associated with fitness and health. Such sensors are integrated into several accessories like hats, wristwatches, smartphones, eyeglasses, garments, shoes, wrist bands, headphones, and others which monitors and diagnose vital signs like blood pressure, heart rate, and other metabolic activities. These sensors enable biological and physiological sensing.
Wearable sensors are capable of monitoring people’s vital signs while they go about their daily lives. These sensors can also monitor patients remotely, record the information and communicate it back to healthcare professionals in real-time. Recent advancements in wireless connected devices led by the Internet-of-Things (IoT) and the huge uptake of Wearable Sensors Market in the making of monitoring devices extensively used in the hospital or at home, drive the wearable sensors market.
Additional factors that are predominantly supporting the growth of the market include the growing demand for smart and connected devices that have increased the market penetration of wearable devices making them a mainstream commodity in today’s tech landscape. Also, developments in wearable technology have proven to be favorable for the growth of the market. Moreover, the integration of IoT with the evolving sensor technology is boosting the growth of the market.
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Wearable Sensors Market Segmentation
The global wearable sensors market has been segmented on the basis of type, application, and end-users.
By mode of type, the global wearable sensors market has been segmented into medical based sensors, motion sensors, position sensors, image sensors, inertial sensors, pressure sensors, and others.
By mode of application, the global wearable sensors market has been segmented into smart glasses, smart wristwear, smart footwear, smart body wears, and others. Among these, the smart wristwear segment occupied the major share across the globe. The growth is ascribed to the increased popularity of fitness and health devices among the consumers. New entrants are offering advanced technologies in smart wristwear at lower prices than smartwatches, which is likely to encourage the growth of the segment. These wristwear offer dynamic analysis of the user activities like heart rate variation, step tracking, sleep quality analysis, and calories count which further add to its functionality.
By mode of end-users, the global wearable sensors market has been segmented into healthcare, consumer, industrial and enterprise, and others. Among these, the consumer segment is likely to gain prominence. The demand for sensor-fused devices are triggering with the increased awareness regarding remote monitoring of fitness and wellness is gaining prominence among the users.
Wearable Sensors Market Regional Analysis
Geographically, the wearable sensors market span across regions namely, Europe, North America, Asia Pacific, and the Rest-of-the-World (RoW).
Considering the global scenario, the North American region is poised to occupy the most significant share as the region offer room to the most prominent players and is in a position to adopt technological advancements at its earliest. High adoption of digital technology in the U.S. has further intensified the growth of the market in this region. With the booming healthcare infrastructure, the market is estimated to flourish.
The European region occupies the second spot and is anticipated to evolve at a significant pace in the foreseeable future. With advancing technology and purchasing power required for the market growth, the region is anticipated to gain an impetus. Moreover, the conscious awakening regarding healthy lifestyle is considered a major factor propelling the market growth in the long run.
The Asia Pacific region is estimated to expand at the fastest rate as the strong economic growth has infused healthy purchasing power which is estimated to encourage the proliferation of wearable sensors in the coming years.
Wearable Sensors Market Players
- InvenSense Inc. (U.S.)
- Panasonic Corporation (Japan)
- Robert Bosch GmbH (Germany)
- STMicroelectronics (Switzerland)
- Texas Instruments Incorporated (U.S.)
- KIONIX
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