Wearable Sensors Market Scope
Market Research Future (MRFR) expects the wearable sensors market 2020 to clock in a fantastic growth rate of 46.73% from 2018 to 2025 (analysis period). It is projected that the market can potentially touch USD 11,076.90 Million by 2025. We will provide COVID-19 impact analysis with the report, along with an in-depth review post the coronavirus disease outbreak.
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Primary Boosters and Challenges
In September 2020, a research team from the University of Dallas developed a wearable sensor that helps detect two biomarkers related to IBD/inflammatory bowel disease. The sensor helps medical professionals to intervene faster, which helps, as the symptoms respond better to the treatment in the earlier stages. The device is also expected to help doctors analyze if the treatment will work or is working. Researches have surged immeasurably over the past few years, bolstering the application scope of wearable sensors in the healthcare industry. Also, rise in various chronic and lifestyle diseases such as hypertension, cardiovascular diseases, diabetes and IBD has led to higher demand for wearable sensors, which translate into strong market growth.
Technological innovations remain the key focus for various manufacturers in the global market, while the sensor miniaturization trend is gaining popularity in light of the rising preference for compact wearables. Wearable sensors’ motion-sensing benefits that help track and record every movement boost its demand among consumers. The surging expenditure on remote monitoring activities such as blood oxygen level, heart rate, calorie count and fall detection also add to the market’s attractiveness.
Escalating use of wearable sensors for in-home applications as well as remote patient monitoring has been favorable for the market. The rising need for wearable sensors in the infant care segment and new products with advanced features being launched increasingly by market players can mean strong business growth. The integration of medical sensors in various consumer electronics such as smartphones to support remote care for sensing, analyzing and tracking different parameters is also anticipated to enhance the market size in the following years.
Wearable Sensors Market Segmentation
The wearable sensors market has been dissected in terms of type, application, and end user.
Inertial sensors, medical-based sensors, image sensors, position sensors, pressure sensors, motion sensors, and more are the key types of wearable sensors in the market.
Smart glasses, smart wristwear, smart bodywears, smart footwear, and others are the primary applications of wearable sensors. Smart wristwear remain the leading segment since 2018, and had been valued at USD 436.3 million that same year.
Top end-users listed in the market study include enterprise and industrial applications, consumer applications and healthcare applications.
Wearable Sensors Market Regional Insight
The geographical distribution of the wearable sensors industry comprises the Americas, MEA/Middle East and Africa, Europe and APAC/Asia Pacific.
North America is ahead of other regions in the global market for wearable sensors, as a result of the high uptake of digital components in fitness, smart textiles, consumer electronics and sports. Availability of several government-backed research grants along with the presence of thriving sports and fitness industry also accelerate the market expansion rate in the region. The rising interest in sports and fitness has also boosted the use of Google Glass, Fitbit, Microsoft band and E-wristwatch, with the United States emerging as the top consumer in the region. Given the vast pool of eminent OEMs, the US has managed to take the lead in the regional market.
APAC can be the fastest growing market during the assessment period, thanks to the fast advancing healthcare industry and the surge in the consumer awareness about latest technologies. The increasing uptake of computing and the rising spending on advanced technologies by renowned corporations are also projected to favor the market. Since 2018, Australia has been the biggest gainer in the APAC market, having captured a share of 13.5% the same year.
Wearable Sensors Market Renowned Competitors
Renowned competitors in the market are InvenSense Inc., Xsens Technologies, Google Inc., STMicroelectronics, Rackspace Hosting Inc., Wearable Technologies Service GmbH, and more.
Masimo recently developed Radius T, a wireless wearable sensor that provides steady body temperature measurement to the user. The sensor also gives alerts to the user every time the temperature goes beyond the specified range.
List Of Tables
TABLE 1 SPECIFIC PRIMARY AND SECONDARY SOURCES USED FOR THIS PUBLICATION
TABLE 2 GLOBAL WEARABLE SENSORS MARKET SNAPSHOT(2015AND 2020)
TABLE 3 DRIVERS FOR THE MARKET: IMPACT ANALYSIS
TABLE 4 RESTRAINTS FOR THE MARKET: IMPACT ANALYSIS
TABLE 5 GLOBAL MARKET BREAKDOWN BY TYPE, $M (2012 – 2014)
TABLE 6 GLOBAL MARKET BREAKDOWN BY TYPE, MILLION UNITS (2012 – 2014)
TABLE 7 GLOBAL MARKET BREAKDOWN BY TYPE, $M (2015 – 2020)
TABLE 8 GLOBAL MARKET BREAKDOWN BY TYPE, MILLION UNITS (2015 – 2020)
TABLE 9 GLOBAL MARKET BREAKDOWN BY APPLICATION, $M (2012 – 2014)
TABLE 10 GLOBAL MARKET BREAKDOWN BY APPLICATION, MILLION UNITS (2012 – 2014)
List of Figures
FIG 1 GLOBAL WEARABLE SENSORS MARKET, 2012–2014 ($MILLION)
FIG 2 GLOBAL WEARABLE SENSORS MARKET, 2012–2014 MILLION UNITS
FIG 3 GLOBAL WEARABLE SENSORS MARKET, 2015–2020 ($MILLION)
FIG 4 GLOBAL WEARABLE SENSORS MARKET, 2015–2020 MILLION UNITS
FIG 5 PORTER’S FIVE FORCES OF COMPETITIVE POSITION ANALYSIS
FIG 6 COMPETITIVE POSITIONING OF KEY COMPETITORS
FIG 7 GLOBAL MARKET SHARE BY COMPANY (2013)
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