Health consciousness for fitnessand advancement in technologies to make North America a global leader inWearable Sensor Market
North America is leading theglobal WearableSensors Market and is expected to maintain its leading position during theforecast period. Adoption of innovative technologies and raising awareness forhealth and fitness in this region is expected to make North America a globalleader in wearable sensors market. The favorable Food and Drug Administration(FDA) approval in sensor technologies makes wearable sensors market industrylucrative in North America. Europe is the second largest region for wearablesensors market. Europe is expected to lead wearable sensors market in nearfuture, owing to high demand for wearable devices.
Wearable sensors are the devicesthat collect information about biological and physical properties of body andenvironment by the sensors present in wearable devices. This information isutilized further to measure the output information of body. Sensors areimplemented in wearable devices to track environmental activities, such astemperature and weather information and to track fitness and health activities,such as body temperature, heart rate, stress level, heart pressure, bloodpressure, movements, speed, and local temperature. Wearable sensors are used indevices, such as a smart-watch, smart shoes, body-wear, fitness watch, glasses,virtual reality headsets, sleep masks, and jewelry.
Technological advancement insensing devices and introduction of key players into the market is expected toboost the growth of Wearable Sensors Market
The sensors device processesaccording to the surrounding environment and it is implemented on the wearabledevice to monitor body activities, which include, heart rate, body temperature,and blood pressure. Wearable sensors market is expected to show a significantgrowth over the forecast period, owing to the demand for wearable sensordevices in various applications such as healthcare, lifestyle, fitness, andsecurity.
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Moreover, recent advancements intelecommunication, data analysis, sensor manufacturing, and microelectronicsare providing opportunities for adoption of wearable sensors in the digital healthenvironment. Additionally, in the healthcare industry, wearable sensors areused for monitoring patient’s conditions. These devices are also used insports, military, and entertainment. For instance, Apple watch is a wearabledevice, which includes microphone, accelerometer, and a pulse sensor. Wearablesensors are integrated into garments, watches, eye-glasses, and smartphones,which is fueling the growth of the wearable sensor market.
Decreasing cost, attractiveaccessories, and integration with consumer electronic devices are the keyfactors for boosting the growth of global wearable device market. Additionally,introduction of key players in market such as Google, Amazon, Facebook, Apple,Microsoft, smartphone penetration in sensor technology, the high occurrence ofchronic disease related to blood pressure and heart rate, geriatric populationwith cardiac and neurological disorders, fitness awareness, and reduced digitalhealth-cost are anticipated to significantly drive the growth of globalwearable sensors market.
Strong competition betweenmanufacturers and safety concerns restrict the market growth
However, low consumer awarenessand safety concerns for security data is a major restraint for growth ofwearable sensor market. Moreover, lack of clarity for health communicationprotocol using wearable device and interoperability issues is expected tohinder the growth of market. Due to low-cost alternatives, intense competitionis faced by key manufacturers, which is another factor hindering the growth ofglobal wearable sensors market growth.
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Geographically, the wearablesensor market is segmented into North America, Europe, Asia Pacific, Middle East,Africa, and Latin America.
Asia Pacific region isanticipated to lead global market during the forecast period. Favorablereimbursement policies and advanced low-cost sensor systems are fueling thegrowth of wearable sensor market in Asia Pacific region.
Strategies of merger-acquisitionby key players to expand the market growth
The major key players operatingglobal wearable sensor market include Google, Panasonic Corporation, FreescaleSemiconductor, Fossil Groups, InvenSense, Facebook, Amazon, Apple, Microsoft,Infineon Technologies AG, ST Microelectronics, and Analog Devices, Inc. Theseplayers are focused on developing business through strategies ofmerging-acquisition and product development to enhance the global growth. Forinstance, Facebook acquired Basis Science in March 2015, which specializeswearable sensor technology in wrist-watches. Moreover, Fossil Groups acquiredMisfit in November 2015, to enhance their growth in global market.
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