A research study titled, “Wearable Sensors Market by Type and Application – Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the wearable sensors market is projected to be around $4 billion by 2025.
Wearable sensors facilitate long-term physiological monitoring which is critical for treatment of different chronic disorders and mental health issues such as diabetes, depression, autism spectrum disorder (ASD), and anxiety. From a cost perspective, the primary purpose of using wearable sensors is to move healthcare away from where it is most expensive i.e., clinics and emergency rooms, and move towards outpatient monitoring and preventive measures. The primary motivation behind developing wearable sensors is to create technologies that will enable the users to regularly monitor their health related parameters and track the progress in all stages of life and diseases.
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Key Growth factors affecting on Wearable Sensors Market
-increasing demand for sensor based wearable devices in healthcare, security, lifestyle and fitness applications, increased penetration of wireless connectivity networks worldwide and rising global acceptance of smart devices. Wearable technology is touted to replace smartphones in the near future as they promise more convenient way of communication in day to day life.
-Increasing research and development activities focused on utilizing sensor based wearable technology for logistics, manufacturing and military and security applications will largely contribute to the future growth of wearable sensors market.
-However, factors such as security concerns related to data security and rising need and demand for device integrations leading to interoperability issues can hamper the market growth.
Technology and Application Trends of Wearable Sensors Market
Wearable motion sensors segment held a significant share of the wearable sensors market in 2016 owing to increasing applications of wearable sensors in smart devices such as smart watches, shoes and medical devices in order to track patients’ physical activity. Wearable image sensors market is expected to exhibit fastest growth during the forecast period due to rising demand for intelligent smart devices such as smart watches and smart glasses.
Wrist wear segment held a significant share of the global wearable sensors market in 2016 owing to rising demand for smart watches along with technological advancements leading to development of advanced wrist wear devices. The segment is expected to experience lucrative growth during the forecast period due to increasing adoption of smart watches and fitness bands by consumers as a result of increased awareness related to fitness tracking and monitoring.
Regional outlook of Wearable Sensors Market
U.S. held a major share of the North American wearable sensors market due to large scale adoption of technologically enhanced wearable devices enabled by high disposable income of the population. Emerging economies such as China and India are expected to witness favorable growth owing to increasing penetration of smart devices such as tablets and smart phones.
Product development and innovation is the key strategy followed by the major players operating in the wireless sensors market in order to outperform their competitors and offer innovative wearable devices to the consumers. Some of the key players in the wearable sensors market are, TE Connectivity Ltd., Broadcom Limited, STMicroelectronics N.V., Analog Devices, Inc., Infineon Technologies AG, Knowles Electronics, LLC., InvenSense (Acquired by TDK Corporation), Panasonic Corporation, Texas Instruments Incorporated and NXP Semiconductors N.V.
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Key Findings of the Research Study:
Motion sensors segment held a significant share of the wearable sensors market in 2016 owing to their large scale adoption in applications such as automotive, defense, healthcare and consumer electronics.
Image sensors segment is expected to grow with the highest CAGR during the forecast period owing to their increasing applications in industries such as defense and infotainment.
Wrist wear segment held a significant share of the wearable sensors market in 2016 owing to consistent technological advancements in sensor based wrist wear devices and increasing adoption of smart watches by consumers.
Consumer vertical dominated the overall market in 2016 due to increasing consumer applications of wearable sensors such in infotainment, sports, fitness and multimedia.
List of Tables
Table 1.Wearable Sensors Market, By Type ($Million), 2016-2025
Table 2.Accelerometers Market, By Region ($Million), 2016-2025
Table 3.Magnetometers Market, By Region ($Million), 2016-2025
Table 4.Gyroscopes Market, By Region ($Million), 2016-2025
Table 5.Inertial Sensors Market, By Region ($Million), 2016-2025
Table 6.Motion Sensors Market, By Region ($Million), 2016-2025
Table 7.Pressure and Force Sensors Market, By Region ($Million), 2016-2025
Table 8.Temperature and Humidity Sensors Market, By Region ($Million), 2016-2025
Table 9.Microphones & Microspeakers Market, By Region ($Million), 2016-2025
Table 10.Medical- Based Sensors Market, By Region ($Million), 2016-2025
Table 11.Blood Oxygen Sensors Market, By Region ($Million), 2016-2025
Table 12.Blood Glucose Sensors Market, By Region ($Million), 2016-2025
Table 13.Blood Flow Sensors Market, By Region ($Million), 2016-2025
Table 14.ECG Sensors Market, By Region ($Million), 2016-2025
Table 15.Heart Rate Sensors Market, By Region ($Million), 2016-2025
Table 16.Hall Effect Sensors Market, By Region ($Million), 2016-2025
Table 17.Image Sensors Market, By Region ($Million), 2016-2025
Table 18.Touch Sensors Market, By Region ($Million), 2016-2025
Table 19.Other Sensors Market, By Region ($Million), 2016-2025
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About Crystal Market Research:
Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
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