Global Wearable Sensors Industry Report – Forecast to 2020 is latest research report published by “Market Research Future”, which provides comprehensive information on Wearable Sensors Market – Trends, Size, Share, Statistics with historic and forecast data to 2020.
Wearable Sensors market – Overview
The thriving wearable sensors market is expected to register significant accruals throughout the forecast period. Factors 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.
Developments in the wearable technology have proven to be a block-building factor for the market growth of these sensors. Moreover, the integration of IoT with the evolving sensor technology is escalating the market on the global platform.
Acknowledging the outstanding growth, the market perceives currently, Market Research Future (MRFR) in its recently published study report asserts that the global wearable sensors market will exponentially grow further by 2020, registering a massive, double-digit CAGR of 46.6% throughout the forecast period (2015 – 2020).
The increasing demand for wearables for infants and continuously evolving sensor technology is one of the key driving forces pushing up market growth. With the increasing number of health and fitness conscious populace, the demand for tracking biometrics such as calories burnt, heart rate and wearable fitness trackers is increasing.
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The rapid expansion of the internet of things (IoT) is driving demand of wearable sensors devices in various application areas such as healthcare and fitness, consumer electronics and others.
Rise in the home care settings and remote patient monitoring, and technical advancement such as integration of sensors and innovations towards miniaturization are driving the growth of wearable sensors market. Wearable sensors are widely accepted and well-liked in industries such as sports and healthcare.
On the flip side, factors such as privacy and security concern, hardware & software issues, and high-power usages, etc. are impeding the market growth. Nevertheless, the increasing application of motion sensors in smart wearable devices, such as fitness bands and trekking shoes will support market growth over the forecast period.
Major Industry Players
Key players leading the global wearable sensors market include Some of the eminent leaders of the market include Panasonic Corporation, Robert Bosch GmbH, InvenSense, Inc., Texas Instruments Incorporated, KIONIX, INC. (ROHM Co., Ltd.), STMicroelectronics, Analog Devices, Inc., ZOLL Medical Corporation (Asahi Kasei Corporation), Measurement Specialties, Inc., Infineon Technologies AG., and Freescale Semiconductor, Inc. among others.
Global Wearable Sensors Market – Segments
For enhanced understanding, the report has been segmented into four key dynamics.
By Types : Medical-based Sensors, Motion Sensors, Pressure Sensors, Image Sensors, Position Sensors, Inertial Sensors, and others.
By Applications : Smart Wristwear, Smart Glasses, Smart Bodywears, and Smart Footwear among other wearable devices.
By End-Users : Consumers, Healthcare, Enterprises, Industrial, and others.
By Regions : Asia Pacific, North America, Europe, and the Rest-of-the-World.
Global Wearable Sensors Market – Regional Analysis
The North American region with the presence of a number of key players is expected to retain its dominance over the global wearable sensors market. Factors such as the availability to develop advanced technologies alongside the presence of well-established infrastructure that allows a suitable environment for the development and early implementation of these advanced technologies increases the size of the market to an extent.
Additionally, factors propelling the growth of the regional market include increasing governmental support for R&D activities and improved access to technology.
The wearable sensors market in the European region is emerging as a lucrative market, holding the second position, globally. Factors providing impetus to the market growth include the increased funding and the support for R&D activities from the public & private sectors and the resurging economy in the region that is playing a vital role in the increasing consumers purchasing power,
Germany with its flourishing wearable medical devices market accounts for the leading market for wearable sensors in the region, followed by the UK and France, respectively. The wearable sensors market in the UK is growing attributing to the high per capita income and robust healthcare penetration.
The Asia Pacific wearable sensors market is rapidly emerging as a profitable market, witnessing huge technological advancements and the high uptake of these advanced technologies. These advancements in technology and medical devices are some of the key driving forces behind the growth of the market in this region.
The market in India, China, and Japan heading with the increasing number of developments in the connected medical devices and healthcare solution contribute to the growth of the regional market providers predominantly.
Furthermore, the higher adoption rate of wearable and connected medical devices, improving economy, and rising medical tourism in the region are some of the factors acting as a major tailwind pushing up the growth of the wearable sensors market in the APAC.
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Global Wearable Sensors Market – Competitive Analysis
Highly competitive, the wearable sensors market appears to be fragmented owing to the presence of several large and small-scale players. These players invest substantially in R&D to develop advanced sensors.
High potential growth opportunities that the market demonstrates are in turn, attracting several new entrants to the market, further intensifying the competition in the already fiercely competitive market.
Well-established players incorporate strategic initiatives such as acquisition, collaboration, expansion, partnership, and product & technology launch in order to gain a competitive advantage in this market and to maintain their market positions.
Prominent manufacturers of wearable sensors invest substantially in technology and R&D activities. R&D investments are utilized to innovate as well as to improve their existing product line.
Most of all, they invest in acquiring other promising firms in the rapidly growing regions to meet their expansion plan. The rising government fundings are motivating key companies to manufacture new sensors that can match the changing trends and needs of the customers.
Industry/ Innovation/ Related News:
February 19, 2019 –— Shimmer (Ireland), a well-established wearable technologies services and sensor manufacturing company launched its next-generation wearable sensor platform Verisense that is designed to meet the end to end needs of clinical trial sponsors, sites and participants. This new technology was unveiled at the SCOPE Summit for Clinical Ops Executives, held in Orlando, FL.
February 11, 2019 –— VivaLNK (the US), a leading provider of connected healthcare solutions launched a medical wearable sensor platform that includes a host of sensors, edge computing technologies, and an Internet of Health Things data cloud.
VivaLNK describes the platform as unique, saying that it captures data about human vitals and biometrics and delivers the data from the patient to edge computing devices as well as to the cloud. The data can then support application integration and analysis.
November 02, 2018 –- Cardiac Insight, Inc. (US), a leading global provider of wearable cardiac biosensors and clinical diagnostic software systems announced its partnership with VivoSense (US), a leading company focused on integration and specialized analysis of wearable sensor data for research and clinical trials.
Together, the duo companies will deliver enhanced research analytics to help VivoSense expand the use of wearable biosensors for pharmaceutical clinical trials and other healthcare applications.
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