Wearable Sensors Market Growth Prospect, Industry Trends, Value Chain Analysis and Forecast by 2025
The Wearable Sensors Market was valued at USD 149.3 million in 2016 and is anticipated to grow considerably in the forecast period due to the increasing number of health and fitness monitoring applications. A wearable sensor is a high-tech device worn by individuals for recording information related to health and fitness. These technological sensors can be wired or wireless devices and are incorporated in fashion accessories or clothes. They diagnose and monitor crucial body signals like blood pressure, heartbeat, and other metabolic activities. The rise in the adoption of advanced monitoring systems across the globe is predicted to boost the wearable sensors industry in near future.
The wearable sensors enable the biological and psychological senses in the body. It identifies and monitors the ongoing treatment for cardiovascular, neurological, and pulmonary disorders like asthma, hypertension, etc. At present, motion sensors are deployed at pharmacies in rural regions that lack the use of remote monitoring systems.
The subsequent rise in world population, as well as considerable aging population, is reinforcing the speedy growth of healthcare costs. The healthcare system is undergoing a revolutionary change, which enables the monitoring of inhabitants without hospitalization. The enhancement of sensing technologies, wireless communication technologies, nanotechnologies, implanted systems, and miniaturization has empowered the development of smart systems to continuously record human activities.
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The wearable sensors identify abnormal and/or unexpected situations by recording psychological factors as well as other indications. The major factors that drive the wearable sensors market are the rise in the adoption of remote and home patient monitoring systems, developments in sensor technology, and increased use of wearable sensors for newborns. Additionally, the growing use of smart electronic devices for consumers like smartphones, tablets, and laptops has streamlined the recording and gathering of information, since these devices can be easily paired. Moreover, the costly wearable sensors, privacy issues, and data integrity are expected to restrict the market growth. Nevertheless, strict regulations regarding data storage are predicted to increase the acceptance of wearable devices in society.
The rising chronic sickness, elderly population, and higher penetration of smartphone technology are expected to offer growth opportunities in the wearable sensors industry. The growing health and fitness awareness, remote monitoring of patients, integrated with low costs in digital health are expected to affect the market significantly. The software and technology upgrades like cloud networking have enabled the development of wearable sensors with minute user involvement in device monitoring. This simultaneously makes the procedure convenient, affordable and simpler to manage. This is projected to widen the scope and expand the wearable sensors market in near future.
The wearable sensors industry can be categorized based on product type, application, and geography. Based on product type, the market is divided into Image Sensor, Medical Based Sensor, Motion Sensor, Position Sensor, Pressure Sensor, Temperature Sensor, etc. (chemical, optical, and stretch). Based on application, the industry can be divided into Body Wear, Eye Wear, Foot Wear, Wrist Wear, etc. (finger, head, neckwear).
Geographically, the wearable sensors market can be divided into North America, Europe, Asia-Pacific, and LAMEA. The growing Research & Development in the wearable sensors segment in terms of improved technologies, and the increasing demand for a better lifestyle are the two essential factors that drive the Market in North America. Also, the growing R&D capabilities are expanding the application areas of wearable sensors in various industries like healthcare, consumer electronics, and entertainment.
The prominent players in the wearable sensors industry are Panasonic Corporation, Adidas AG, Google, Inc., Infineon Technologies AG, Intel Inc., Analog Devices Inc., InvenSense Inc., STMicroelectronics, ZOLL Medical Corporation (Asahi Kasei Corporation), and Texas Instruments Incorporated.
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The Wearable Sensors Market was valued at USD 149.3 million in 2016 and is anticipated to grow considerably in the forecast period due to the increasing number of health and fitness monitoring applications. A wearable sensor is a high-tech device worn by individuals for recording information related to health and fitness. These technological sensors can be…
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