The Global Wearable Sensors Market is expected to register a CAGR of 46.73% and is anticipated to reach USD 11,076.90 Million by 2025
Wearable Sensors in this report refer to the sensors which are used in smart wearable devices. Global wearable sensors market is driven by increasing demand of wearables for infants and continuously evolving sensor technology. With increasing personal care and health consciousness, for tracking biometrics such as calories burnt, heart rate and others, the demand for wearable fitness trackers and other wearables 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.
Wearable sensors can be used in different sports and occasion. Wearable devices are gaining attention in research activities. Increasing adoption of different type of wearable devices in healthcare and fitness is one of the major driver of this market. With the miniaturization model and falling prices, more number of sensors are expected to be in use in the forecast period. These sensors are used in many of the different devices like watch, smart phones, VR headsets, jewelry and many more.
The key factor for the growth of the market is small size, easy of handling and low cost. Motion sensors are the widely used type of wearable devices. A motion sensor is a device that can sense physical movement and used in the fitness activity. The global wearable sensors devices market is majorly driven by increasing prevalence of diseases like diabetes, obesity and other heart diseases. Increasing geriatric population across the globe has led to increase the incidents of heart disease.
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Wearable sensors market has been segmented on the basis of type which comprises of Motion Sensors, Medical Based Sensors, Image sensors, Position Sensors, Pressure Sensors, Inertial Sensors and Others. On the basis of application, the market is segmented into Smart Wristwear, Smart Glasses, Smart Bodywears, Smart Footwear and others. On the basis of end user, the market is segmented into Consumer, Healthcare, Enterprise and Industrial and others.
Latest Industry Updates:
Being a competitive market, a number of different manufacturer are focusing on the product launch, and acquisition for the market development. Some of the latest development in the market are-
March 2017, Breg, Inc., manufactures and markets sports medicine products and services for orthopedic patient care. The company also offers workflow management software for durable medical equipment, prosthetics, orthotics, and supplies. The company launched Breg Flex the first mobile health solutuion design to facilitate and improve patients' at-home recovery following orthopedic surgery
Oct 2014, Medtronic Inc. announced the U.S. launch of the SEEQ Mobile Cardiac Telemetry (MCT) System, which is used in the monitoring of the cardiac diseases. Additionally, in June 2014, the company has completed the acquisition of Corventis Inc.
March 2017, PAREXEL International Corporation, a leading global biopharmaceutical services provider, announced the launch of patient sensor solution to transform clinical trial data collection.
Regional Analysis of Wearable Sensors Market:
Considering the global scenario of the market, North America region is believed to be the largest market for wearable sensors. Moreover the European market is also growing and second largest market for wearable sensors. On the other hand, Asia-Pacific market is expected to grow at the fastest pace in the wearable sensors during the forecasted period. Rest of the World is likely to have a limited but steady growth in the market.
Key Players for Wearable Sensors Market:
Some of the key players in this market are: InvenSense, Inc., InvenSense, Inc., Panasonic Corporation, Robert Bosch GmbH, STMicroelectronics, Texas Instruments Incorporated, KIONIX, INC. (ROHM Co., Ltd.), Measurement Specialties, Inc., Analog Devices, Inc., ZOLL Medical Corporation (Asahi Kasei Corporation), Freescale Semiconductor, Inc., Infineon Technologies AG.
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