Wearable sensors are those devices that collect information about biological and physical properties of the body and this information is used to monitor activities such as body temperature, blood pressure and heart rate.Wearable sensors are wireless networks and therefore, are highly efficient. Also, wearable sensors can easily be integrated with a large variety of wearables such as eyewear, neckwear, body wear, wrist wears and footwear which includes hats, smart watches, shoes, headphones to continuously monitor signals. The global wearable sensors market is expected to grow with a CAGR of about 32% during the forecast period of 2016-2023. The global wearable sensors market is majorly driven by increasing adoption of Internet of Things and augmented reality in the field of connected devices. Also, increasing demand for wearable electronic devices is the factor boosting the growth of the global wearable sensor market during the forecast period. The benefits of wearable sensors include real time data collection, continuous health tracking and monitoring, predicting and alerting about health hazards etc. Because of numerous advantages such as continuous health monitoring and control, wearable sensors are widely adopted in consumer sector, healthcare and industrial sector.
Increasing usage of smart devices such as laptops, smart phones and tablets is the factor boosting the growth of the global wearable sensor market during the forecast period. Smart devices are widely used in continuous tracking and health monitoring of the patients through different mobile apps.As estimated by International Telecommunication Union (ITU), the total smart phone users (global) in 2016 were approximately 2.1 billion. The smart phone usersare forecasted to expand from 2.1 billion in 2016 to around 2.5 billion in 2019. Moreover, more than 36% of the world’s population is estimated to use smart phone by 2018. Increase in the total smart phone user population (globally) will drive the global wearable sensor market during the forecast period.
Source: OBRC Analysis
The report on global wearable sensors market is segmented on the basis of its segments which include type, applications and vertical.
Types included in wearable sensor market report are:
- Accelerometers
- Gyroscopes
- Image sensors
- Inertial sensors
- Magnetometers
- Medical based sensors
- Microphones and Micro speakers
- Motion sensors
- Pressure and Force sensors
- Temperature and Humidity sensors
- Touch sensors
The applications of wearable sensor include:
- Eyewear
- Body wear
- Footwear
- Neckwear
- Wrist wear
Verticals adopting wearable sensors are:
- Consumer goods
- Healthcare
- Industrial
The report scope is widely categorized on the basis of its segments such as type, applications and vertical. Moreover, the market revenue estimates and forecast includesonly the wearable sensors. However, report scope excludes non-wearable devices and sensors.
Geographically, the global wearable sensor market report has been segmented in:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
North America held the largest market revenue share in 2016. Moreover, the region is expected to dominate the wearable sensor market during the forecast period. Wearable sensors have a large demand in the region owing to increasing focus of North America towards healthcare, industrial and consumer electronics sector. Also, the growth of wearable sensor market in the region is attributed to increased penetration of wireless connectivity and increased usage of smart devices such as tablets, smart phones and laptops in the region. As estimated by International Telecommunication Union (ITU), United States is an important market for the smart phone industry with around 222 million smart phone users in 2017. As estimated by the ITU, by the end of 2019, the total smart phone users in the U.S. is expected to increase to about 247 million. Increase in the smart device usage is a growth promoter for the global wearable sensor market in North America during the forecast period.
Global wearable sensor market report covers segmentation analysis of type, applications and vertical. Report further covers segments of type which includes accelerometers, gyroscopes, image sensors, inertial sensors, magnetometers, medical based sensors, microphones and micro speakers, motion sensors, pressure and force sensors, temperature and humidity sensors and touch sensors. Accelerometers are expected to hold the major market share during the forecast period. Accelerometer sensors are widely used in applications such as wrist wear, eyewear and body wear. These sensors are widely used to detect position, velocity, vibration and shock and are widely used in smart watches and smart bands for navigation and tracking purpose. The applications of global wearable sensor market include eyewear, neckwear, body wear, wrist wears and footwear. Body wear is expected to hold the largest market share during the forecast period. Body wears are mainly used in consumer electronics, medical and industrial sectors. Textiles are embedded with sensors which is an emerging trend in the market. Body wear offers a techno fashion clothing that brings sensors close to the skin and measures various fitness and health parameters.
The major market players of the global wearable sensors market are:
- NXP SEMICONDUCTORS N.V.
- AT MICROELECTRONICS N.V.
- TE CONNECTIVITY LTD.
- BROADCOM LTD.
- KNOWLES ELECTRONICS LLC
- OTHERS
These companies using various strategies such as merger & acquisition, collaboration, partnership and product launch whereas, product launch is the key strategy adopted by the companies in the global wearable sensors market.
For example: In 2017, Breg Inc. launched a new wearable sensor device. This wearable sensor device can improve patient’s health at home.
In 2017, Boltt launched a new wearable sensor device for fitness and health monitoring. The device is based on the concept of augmented reality concept.
The report covers detailed analysis of companies which comprises overview, SCOT analysis, product portfolio, strategic initiative, strategic analysis, competitive landscape and market share analysis in global wearable sensors market.
Key reasons to buy the report:
- The report includes market estimation, forecast and analysis for the year 2016-2023 of global wearable sensor market.
- Report includes detailed analysis of different segments such as type, applications and verticals of global wearable sensor market.
- Identify and understand the strength, opportunities, challenges and threat of the global wearable sensor market.
- Covers details analysis of porters 5 force model and other strategic models. Also covers revenues, market share analysis, competitive landscape analysis of major players of global wearable sensor market.
- Detailed analysis of various the regulatory policies which are affecting the global wearable sensor market.
How are we different from others:
At Occam’s we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global wearable sensor market offers detailed analysis of strategic models such as investment vs. adoption model, see saw analysis and others strategic models. Also, the report contains the detailed analysis of application, adoption scenario and decision support for each segment. The report discusses competitive landscape of the global wearable sensor market, with giving extensive SCOT analysisof key companies.
Key Findings of the global wearable sensors market:
- Increasing adoption of Internet of Things, augmented reality and machine to machine platform is adding growth in global wearable sensors market.
- North America held highest revenue share in 2016 and is expected to dominate the market during the forecast period.
- Accelerometers segment is expected to hold the largest market share during the forecast period due to increasing applications of wrist wear, eyewear and body wear.
- Product launch is the key strategy adopted by players of global wearable sensors market.
