Global Wearable Sensors Market is expected to grow with a CAGR of 46.6% in terms of value and 26.2% in terms of volume.
Global wearable sensors market is anticipated to expand at a significant rate over the assessment period (2017-2020), as per a new report by Market Research Future (MRFR). Owing to the increasing health consciousness and personal care for tracking biometrics like heart rate, calories burnt, and others, the demand for such wearable devices are increasing at a rapid pace. Wearable sensors facilitate both biological and physiological sensing and are incorporated into fashion accessories and garments like wristbands, shoes, socks, hats, headphones, eyeglasses, and several others to suit the need of the user. Several technology and gadget providers offer customization to products to attract the young crowd.
STMicroelectronics, Panasonic Corporation, Robert Bosch GmbH, InvenSense Inc., InvenSense Inc., Texas Instruments Incorporated, and others.
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Texas Instruments has introduced the smallest operational amplifier and low-power comparators at 0.64 mm2. The TLV9061 op-amp and TLV7011 family of comparators are expected to help the wearable tech designers to reduce cost and system size besides maintaining high performance. This technology is dedicated to industrial application, wearables, personal electronics, optical modules, smart grid and battery-powered systems, motor drives, and others.
Drivers and Challenges Affecting the Market Growth:
With continuously evolving sensor technology and growing demand for wearables for infants is driving the market growth. Besides, rapid expansion of Internet of Things (IoT) is driving the market in several application areas like fitness, healthcare, consumer electronics, and others. The market is gaining prominence due to technological advancements over the assessment period.
With the rising demand for compact wearables, sensor manufacturing and miniaturization have gained popularity. The motion-sensing capacity that can record and track movement is a major factor driving the growth of the market. Moreover, with the presence of key players like Google, Apple, Microsoft, and Samsung, the market is expected to boom in the years to come. With the usage of smart electronic devices like smartphones and tablets, monitoring and gathering of data have been made easy as these sensors can be paired with other devices which are expected to boost the market growth. Also, strict mandates regarding data storage are affecting the market positively.
Meanwhile, privacy concerns, high cost, and data integrity associated with wearable sensors are expected to hinder the market growth. Lack of responsiveness and awareness of consumers about benefits of such devices might hamper the market growth. Also, lack of clarity in protocols and communication standards in the health industry coupled with unfavorable government mandates can act as a hindrance to the growth of the global market for wearable sensors.
Global Wearable Sensors Market Segmentation:
Globally, wearable sensors can be segmented on the basis of type, application, end-users, and region.
The market has been segmented into motion sensors, position sensors, pressure sensors, medical based sensors, inertial sensors, image sensors, and others on the basis of type. Among these, the wearable image sensor is projected to rise at a significant rate over the review period owing to their substantial applications in mobile devices in the area of defense and infotainment.
The market has been segmented into smart body wears, smart footwear, smart glasses, smart wristwear, and others based on application.
The market has also been segmented into healthcare, consumer, industrial, enterprise, and others based on end-user. Among these, the consumer electronics sector is witnessed to hold the maximum share. The availability of cheap fitness tracker has increased the consumption of wearable sensors.
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Considering the global scenario, North America is regarded to dominate the global market for wearable sensors. According to the World Health Organization (WHO), 9.3 % of the total population rate in America is suffering from diabetes. Due to the presence of huge obese and diabetic population and increasing rate of cardiovascular diseases, the American market is expected to show its dominance over the review period. Moreover, there is a significant increase in the adoption of automation which has led to the growth of the market.
The European market is also growing at a significant rate and is anticipated to hold the second largest position globally owing to the high patient population, government support for R&D, and high healthcare expenditure.
Asia Pacific market is expected to grow at the fastest pace during the assessment period due to growing diabetic population and opportunity for growth of the market.
TABLE OF CONTENTS
1 Research Scope and Methodology
1.1 Market Definition 12
1.2 Market Breakdown By Type, Application And End Users 12
1.3 Market Breakdown By Geography 13
1.4 Research Methodology And Sources 13
2 Executive Summary
2.1 Key Findings 15
2.2 Research Summary 15
3 Market Outlook
3.1 Introduction 17
3.2 Wearable Sensors By Type 17
3.2.1 Motion Sensors 17
3.2.2 Medical Based Sensors 18
3.2.3 Image Sensors 19
3.2.4 Position Sensors 19
3.2.5 Pressure Sensors 19
3.2.6 Inertial Sensors 20
3.2.7 Other Sensors 20
3.3 Wearable Sensors By Application 21
3.3.1 Smart Wristwear 21
3.3.2 Smart Glasses 21
3.3.3 Smart Bodywears 22
3.3.4 Smart Footwear 22
3.3.5 Other Wearable Devices 23
3.4 Wearable Sensors By End User 23
3.4.1 Consumer Applications 23
3.4.2 Healthcare Applications 24
3.4.3 Enterprise And Industrial Applications 25
3.5 Trends In The Market 25
3.5.1 Usage Of Cloud Computing In Wearables 25
3.5.2 Integration Of Sensors And Sensor Innovations 26
3.6 Opportunities In The Market 26
3.6.1 Introduction Of Smart Textile In Wearable Electronics 26
3.6.2 Wearable Systems In Physiological Monitoring 27
3.7 Factors Driving The Market And Its Impact On Market Forecast 27
3.7.1 Rise In Wearable Sensors For Infants 27
3.7.2 Rise In Home And Remote Patient Monitoring 28
3.7.3 Rapid Innovations In Sensor Technology 28
3.7.4 Impact Analysis Of Drivers On Market Forecast 29
3.8 Factors Hindering The Market And Its Impact On Market Forecast 29
3.8.1 Privacy And Security Concerns 29
3.8.2 Higher Power Consumption 29
3.8.3 Thermal Considerations And Device Protection 30
3.8.4 Technical Difficulties (Hardware And Software Issues) 31
3.8.5 Impact Analysis Of Restraints On Market Forecast 32
4 Global Market Size and Forecasts (2011–2020)
4.1 Global Market Breakdown By Type 35
4.2 Global Market Breakdown By Application 38
4.3 Global Market Breakdown By EndUser 41
4.4 Global Market Breakdown By Region 42
5 Global Market Breakdown by Application
5.1 North America Market Breakdown By Application 45
5.2 Europe Market Breakdown By Application 47
5.3 Asia-Pacific Market Breakdown By Application 49
5.4 Rest Of The World Market Breakdown By Application 50
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