“Global Wearable Sensors Market: Information by Type (Motion Sensors, Medical-Based Sensors, Image Sensors, Position Sensors, Pressure Sensors, Inertial Sensors and Other Sensors), Application (Smart Wristwear, Smart Glasses, Smart Bodywears, Smart Footwear and other Wearable Devices), End User (Consumer Applications, Healthcare Applications and Enterprise and Industrial Applications) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa) – Forecast till 2025”
Wearable Sensor Market Overview:
The global market for smart wearables is expected to reach a new height by surpassing an expected valuation of USD 11,076.9 million by 2025. During the forecast period (2019-2025), the market would garner an impressive CAGR of 46.73%. Market Research Future (MRFR) discussed various dynamics related to constant monitoring, ease of monitoring, safe usage, diabetes-related treatments, diagnostic help, growing healthcare expenditure, better infrastructural support from hospitals, rising prevalence of chronic diseases. These factors are expected to boost the expansion rate of the market.
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Wearable Sensor Market Segmentation:
The global wearable sensors market, as discussed by experts of the market, has been segmented by type, application, and end user to simplify the understanding of it. Data collected from this segmentation would help in taking the market ahead using effective strategies.
By type, the study on the wearable sensors market includes medical-based sensors, image sensors, motion sensors, pressure sensors, inertial sensors, position sensors, and other sensors. The medical-based sensors are getting prominence as their inclusion is helping in better diagnosis.
By application, the study on the wearable sensors market has been segmented into smart glasses, smart wristwear, smart footwear, the smart body wears, and other wearable devices. The smart wristwear segment was valued at USD 436.3 million in 2018.
By end-user, the study on the market reveals segments like healthcare applications, consumer applications, and enterprise and industrial applications.
Wearable Sensor Market Regional Analysis:
North America would garner better praise due to the hike in investment in countries like the US and Canada for the healthcare sector. In Europe, this growth would be backed by the government and private initiatives. In Asia Pacific region, Japan, China, South Korea, India, and others are expected to boost the market.
Wearable Sensor Market Competitive Landscape:
The global market for wearable sensors is getting backed by companies like Rackspace Hosting Inc., STMicroelectronics, Wearable Technologies Service GmbH, Xsens Technologies, Google Inc., and InvenSense, Inc. These companies are making progress by impacting the market with their strategic moves that mostly take care of expansion in portfolio and market presence. These methods include mergers, innovations, hike in investment reserved for research and development, acquisitions, branding, marketing strategies, launching ideas, and others. These will help these companies in cementing foothold. MRFR registered its latest moves to understand the flow of the market.
In May 2020, a team of researchers at the University of California San Diego declared that they have come up with a wearable, noninvasive vitamin C sensor that would change the way we perceive nutrition-monitoring. This could evolve as a new, highly personalized option that users can use for tracking their daily nutritional intake and dietary adherence. This product is also getting backed by various trials related to COVID-19 as the intake of Vitamin C plays a crucial role in fighting diseases that share similar symptoms. In several clinical trials, it is playing an integral part where researchers are trying to find a drug for the COVID-19, which was caused by the novel SARS-CoV-2 virus.
In May 2020, engineering researchers from Northwestern University declared that they had developed a small sensor that users can stick to their throat to detect cough patterns, heart rate, respiratory sounds, and body temperature. This sensor is like a postage stamp in size and transmits data via Bluetooth to smart gadgets and can send directly to the cloud to get the data analyzed via artificial intelligence (AI). Researchers are trying to get hold of patterns that can detect the impact of COVID-19, which would give it a wider range of applications.
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