Global Wearable Sensor Market will increase by 34.2%Annually till 2022
Zion Market Research, the market research group announced the analysis report titled ‘Wearable Sensor Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024’
The study concludes that the global Wearable Sensor Market is expected to grow at a CAGR of 34.2% between 2016 and 2021. The market revenue of $237.93 billion in 2015, is expected to reach $1,387.04 billion by 2021. The main drivers for the growth of the market increase in numbers of women working outside the home.
Wearable sensors can be used in various remote spots and scenarios. Essentially, wearable wireless sensor networks can be carried anywhere, but operation conditions may make effective operation hard. The concept of body wearable sensors is gaining massive attention in research activities. They can be networked in Wireless Body Area Network (WBAN). Currently, mood and emotion recognition has emerged as the dynamic topic of research. Recognizing emotions and expressions may assist to track violence, aggression, suspect behavior also illness, weakness, unconsciousness, boredom, death, in tele-surveillance approaches. Technology challenges are the positioning the sensors in a controlled affix position, without hindering body movements.
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The growth of the global wearable sensors market is mainly attributed to increased penetration of wireless connectivity, growing interest of tier i players in a wearable ecosystem and mounting benefits of wearable devices in the healthcare sector. Furthermore, advancements in microelectronics, sensor manufacturing, and telecommunication are predicted to favor the wearable sensors market growth. Moreover, miniaturization, decreasing cost, integration with consumer electronic devices and accessories spur wearable sensors demand. On a contrary, consumer awareness regarding the benefits and usage of wearable sensors is expected to have the adverse impact on wearable sensors market. Even so, impending applications of wearable technology coupled with increasing number of connected devices are some of the factors that may disclose new avenues for wearable sensors market in the near future.
Significant use of accelerometers sensors in applications such as wrist wear, body wear, and eyewear is expected to gain remarkable traction in the coming years. Growing use of the inertial sensor in consumer electronic is predicted to drive inertial sensor segment massively.
Browse the full “Wearable Sensor Market by Product Type (Accelerometers, Magnetometers, Inertial Sensors, Motion Sensors, Pressure Sensors, Temperature Sensors, Medical-Based Sensors, Image Sensors, Touch Sensors and Others) for Wrist Wear, Eye Wear, Neck Wear, Foot Wear, Body Wear and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016- 2022” report at https://www.zionmarketresearch.com/report/wearable-sensor-market
Based on application, wearable sensors market segmented into wrist wear, neckwear, eyewear, footwear, bodywear and others. Bodywear expected to be the most lucrative application segment and also predicted to grow with highest CAGR throughout the forecast period. The growth of this segment is mainly attributed to extensive use in consumer electronics, industrial, and medical sectors for several applications.
With the largest share, North America was a leading regional market for wearable sensors in 2016. Massive investments and legislative initiatives in wireless technology in countries such as the U.S. and Canada are some of the factors that may fuel the growth of wearable sensors market in this region. Ongoing technological advancement and high reliability of wireless technology will be the key factors to boost the demand for wearable sensors in Europe. Asia-Pacific ranks as the fastest emerging market and expected to grow with highest CAGR owing to the low cost of wearable sensors.
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Key players in this market are Robert Bosch GmbH, Broadcom Limited (Avago), STMicroelectronics. Infineon Technologies AG, mCube, Inc., Knowles Electronics, LLC., Panasonic Corporation, TE Connectivity Ltd., Asahi Kasei Corporation, NXP Semiconductors, Invensense, Inc., Texas Instruments Inc and ARM Holdings PLC amongst others.
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