The wearable sensors market is growing pervasively mainly due to the market proliferation of wearable devices that have become the mainstream commodity in today’s tech landscape. Wearable technology has changed the way consumers receive and send data across the world; paving the ways through industries ranging from fitness to healthcare, to infotainment and more.
The integration of IoT with the evolving sensor technology is delivering fabulous results, making the sensor technology to boost, especially in the healthcare industry. The huge uptake of wearable devices in healthcare sector in turn, helps the market to grow exponentially. Furthermore, technological advancements heading with the substantial investments transpired in R&D are escalating the market on the global platform.
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Acknowledging the kind of growth, the market is witnessing currently, Market Research Future (MRFR) in its recently published study report asserts that the global wearable sensors market will reach USD 1630.3 MN registering a massive, double digit CAGR of 46.6% between 2015 and 2020. The increasing demand for wearables for infants and continuously evolving sensor technology is one of the key driving forces pushing up the market growth.
With 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. Rapid expansion of 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 home 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 sports and healthcare industry.
A wearable sensor is a vital component in the smart connected devices that are very helpful for medical professional not only in to prevention and diagnosis but also in the management of the diseases and conditions such as heart diseases, blood pressure, and asthma. With the help of these sensors connected devices can collect real-time data which can be useful to get analysis patients health condition.
On the other hand, some 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 the market growth over the forecast period.
Global Wearable Sensors Market – Segments
The market can be segmented into four key dynamics for enhanced understanding;
By Types : Comprises Medical Based Sensors, Motion Sensors, Image Sensors, Pressure Sensors, Position Sensors, and Inertial Sensors among others.
By Applications : Smart Glasses, Smart Wristwear, Smart Bodywears, Smart Footwear and Other Wearable Devices among others.
By End-Users : Healthcare, Consumer, Enterprises and Industrial among others.
By Regions : Europe, North America, APAC and Rest-of-the-World.
Global Wearable Sensors Market – Regional Analysis
The North American region is believed to be the largest market for wearable sensors. The region holds a significant share in the global wearable sensors market and is expected to a create a large revenue pocket by 2020.
The wearable sensors market in the European region stands the second position, growing continuously.
The Asia Pacific region is rapidly emerging as a promising market for wearable sensors. The increasing adoption of smart and connected wearable devices in some of the Asian countries such as Japan, South Korea, China and India is fostering the market growth in the region. Due to increase of internet of things (IoT), the demand of wearable sensors is increasing in various application areas such as healthcare and fitness, consumer electronics and others.
On the other hand, the wearable sensors market in the Rest-of-the-World is likely to witness a limited but steady growth.
Global Wearable Sensors Market – Competitive Analysis
The well-established wearable sensors market appears to be competitive and fragmented owing to the presence of many small & big players forming a competitive landscape. Those players compete based on product features, innovation, quality, cost, and financial stability. They focus on developing their product portfolio with the help of advance technologies so as to gain a competitive advantage and to maintain their position in the market.
Innovation, M&A, and brand reinforcement remain the key trends for leading players. These
players are investing on internal R&D and, most of all, in acquiring other promising firms. Prominent manufacturers of wearable sensors are targeting to invest more in technology and research and development activities to innovate and improve their existing product line. The rising government funding is motivating key companies to manufacture new sensors that match the changing trends and needs of the customers.
Some of the eminent leaders of the market include Panasonic Corporation, InvenSense, Inc., Robert Bosch GmbH, Texas Instruments Incorporated, STMicroelectronics, KIONIX, INC. (ROHM Co., Ltd.), Analog Devices, Inc., Measurement Specialties, Inc., ZOLL Medical Corporation (Asahi Kasei Corporation), Infineon Technologies AG., and Freescale Semiconductor, Inc.
Industry/ Innovation/ Related News:
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), leading company focused on integration and specialised 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.
Table Of Contents
TABLE 1 SPECIFIC PRIMARY AND SECONDARY SOURCES USED FOR THIS PUBLICATION 14
TABLE 2 GLOBAL WEARABLE SENSORS MARKET SNAPSHOT(2015AND 2020) 16
TABLE 3 DRIVERS FOR THE MARKET: IMPACT ANALYSIS 29
TABLE 4 RESTRAINTS FOR THE MARKET: IMPACT ANALYSIS 32
TABLE 5 GLOBAL MARKET BREAKDOWN BY TYPE, $M (2012 – 2014) 36
TABLE 6 GLOBAL MARKET BREAKDOWN BY TYPE, MILLION UNITS (2012 – 2014) 37
TABLE 7 GLOBAL MARKET BREAKDOWN BY TYPE, $M (2015 – 2020) 37
TABLE 8 GLOBAL MARKET BREAKDOWN BY TYPE, MILLION UNITS (2015 – 2020) 38
TABLE 9 GLOBAL MARKET BREAKDOWN BY APPLICATION, $M (2012 – 2014) 39
TABLE 10 GLOBAL MARKET BREAKDOWN BY APPLICATION, MILLION UNITS (2012 – 2014) 40
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