The Wearable Sensors Market is anticipated to increase at a CAGR of 30.14% from 2016 to 2022, from USD 189.4 million in 2015 to USD 1,654.0 million. The development of smaller, smarter, and less expensive sensors, the trend toward miniaturisation in sensors, and the growing advantages of wearable technology in the healthcare industry are the main drivers propelling the growth of the wearable sensors market.
During the forecast period, accelerometers are anticipated to account for a sizable portion of the market for wearable sensors.
One of the most common sensors in the market for wearable sensors is the accelerometer. Wearable devices like wristbands, bodywear, and eyewear are some of the notable wearable technology applications for this sensor. Compared to other end-user industries, the demand for wristwear is higher in the medical, healthcare, and consumer electronics sectors. It is common practise to employ accelerometer sensors to identify motion, position, shock, and vibration. They are frequently used for tracking and navigation in smart watches and smart bands.
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Between 2016 and 2022, the market for bodywear applications is anticipated to develop at the fastest rate.
The bodywear application of wearable sensors is anticipated to experience the highest growth rate between 2016 and 2022. These have several applications in the consumer electronics, industrial, and medical fields. The bodywear application uses textiles with embedded sensors, which is a growing market trend. Fibertronics technology, which incorporates electronic and computational functions into textile materials, is used in bodywear offerings. They have attracted the growing market for technologically advanced apparel that puts sensors next to our skin to gauge various aspects of our fitness and health.
North America's wearable sensor market is anticipated to expand at the fastest rate during the projected period.
Due to the region's increased emphasis on the industrial, consumer electronics, and healthcare sectors, wearable sensors are becoming more and more in demand in North America. Canada, Mexico, and the United States make up the three segments of the North American market in this study. One of the key marketplaces for many industries, including consumer electronics and industrial, is the APAC area. Furthermore, given that nations like the United Kingdom, Germany, and France are actively attempting to expand their positions in these markets, Europe is one of the prospective markets for the healthcare and industrial sectors.
NXP Semiconductors N.V. is one of the leading businesses developing wearable sensors. STMicroelectronics N.V., Netherlands (Switzerland), Broadcom Limited (U.S.), TE Connectivity Ltd. (U.S.), and Knowles Electronics, LLC. Robert Bosch GmbH (Germany), Texas Instruments Incorporated (U.S.), Analog Devices, Inc. (U.S.), Infineon Technologies AG (Germany), Asahi Kasei Corporation (Japan), Sensirion AG (Switzerland), InvenSense, Inc. (U.S.), Panasonic Corporation (Japan), mCube, Inc. (U.S.), ams AG (Austria), and ARM Holdings Plc (U.K.) among others.
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