San Francisco, 19 Dec 2018 “Wearable Sensors Market Size, Share & Trends Analysis Report By Sensor Type, By Device (Smart Watch, Fitness Band, Smart Glasses, Smart Fabric), By Region [North America, Europe, Asia Pacific, Latin America & MEA], And Segment Forecast, {2018 – 2025}” According to a report by Grand View Research, Inc., the global wearable sensors market is anticipated to reach at USD 2.86 billion by 2025. Rising health consciousness has augmented the demand for various fitness devices. This, in turn, will fuel the wearable sensors market growth over the forecast period (from 2018 to 2025). These advanced sensors can monitor health and fitness on various parameters and reduce hospital expenses. Growing awareness regarding following a healthy lifestyle is also estimated to have a positive impact on the market growth. In addition, continual technological advancements and miniaturization of sensors will drive the market further over the coming years. The wearable sensors market can be segregated on the basis of type, device, vertical, and region.
Based on sensor type, the market can be categorized into temperature, accelerometer, gyroscope, inertial sensor, optical, medical based sensors, force and pressure, magnetometers, and others. In 2016, accelerometer segment accounted for a market share of USD 32.3 million. It is likely to expand at the maximum CAGR of 43.6% during the forecast period. Growing awareness among consumers regarding the benefits of using wearable devices can drive segment growth. Accelerometer sensors offer motion sensing technology that can increase accuracy while monitoring and tracking user activities. These sensors can also differentiate between step taken by a user and general movement of wrist. The optical segment is estimated to register a CAGR of 38% during the forecast period.
Increasing use of these sensors in wearable devices will boost segment growth. These sensors provide specific Electrocardiogram (EKG) readings that are highly accurate. In addition, they can also be used to measure various other parameters related to environment and health. All these factors are expected to propel the demand for wearable optical sensors. Based on device, the market can be classified into smart fabric, smart watch, smart footwear, fitness band, smart glasses, and other wearable. In 2016, fitness band segment led the market and accounted for the highest share. The segment is anticipated to expand at a substantial CAGR of 39.5% during the forecast period. Growing awareness among consumers regarding fitness and health devices will drive the segment.
In addition, introduction of technologically advanced yet cost-effective fitness bands by new market entrants can stimulate segment growth. These fitness bands can track and analyze user activities, such as calorie count and heart rate variation. Moreover, continual technological advancements in sensors to enhance the accuracy in qualitative analysis can augment the segment growth over the coming years. Based on vertical, the market can be divided into healthcare, defense, consumer, industrial, and others. Consumer segment is anticipated to record a high CAGR of 41.4% during the forecast period. Rising demand for wearable devices having sensors can fuel segment growth in the coming years. Increasing awareness among consumers regarding remote monitoring of fitness and wellness will also support segment expansion.
Moreover, availability of wearable devices equipped with technologically advanced sensors can further influence market growth. Regional segmentation includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa (MEA). In 2016, Asia Pacific accounted for a major market share of USD 47.1 million. It is estimated to expand at the highest CAGR from 2018 to 2025. Growing investments in sensor technology by various established, as well as new, companies in India and China can boost regional growth. Moreover, rising popularity of health and fitness tracking devices among consumers in the region will spur the market growth. North America is projected to be the dominant region over the forecast period.
Quick adoption of advanced digital technologies in U.S. is the major factor responsible for the region’s growth. Rapidly expanding healthcare sector in North America will also impel demand for wearable sensor-enabled devices, thereby augmenting market development. Some of the leading companies in the global wearable sensors market are Robert Bosh GmbH, NXP Semiconductors N.V., STMicroelectronics N.V., Texas Instruments, and Knowles Electronics, LLC.
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Grand View Research has segmented the global wearable sensors market on the basis of sensor type, device, vertical, and region:
Wearable Sensor Type Outlook (Revenue, USD Million, 2014 - 2025)
- Accelerometer
- Gyroscope
- Optical
- Force & pressure
- Inertial sensor
- Temperature
- Magnetometers
- Medical based sensors
- Others
Wearable Sensors Device Outlook (Revenue, USD Million, 2014 - 2025)
- Smart Watch
- Fitness band
- Smart glasses
- Smart fabric
- Smart footwear
- Other wearable
Wearable Sensors Vertical Outlook (Revenue, USD Million, 2014 - 2025)
- Consumer
- Defense
- Healthcare
- Industrial
- Others
Wearable Sensors Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- US.
- Canada
- Europe
- UK.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- MEA
Browse Press Release of this Report: www.grandviewresearch.com/press-release/wearable-sensors-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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