Global Wearable Sensors Market: Information By Type (Motion Sensors, Medical-Based Sensors, Image Sensors, Position Sensors, Pressure Sensors, Inertial Sensors, Other Sensors), By Application (Smart Wristwear, Smart Glasses, Smart Bodywear's, Smart Footwear, Other Wearable Devices) and By End User (Consumer Applications, Healthcare Applications, Enterprise and Industrial Applications) - Forecast till 2027
Overview
The global wearable sensors market, during the forecast period 2018 to 2025, will register growth at a CAGR of 46.73%. The market for wearable sensors is set to reach US$11.07 billion by 2025. As per wearable sensors market analysts, the global market is anticipated to witness growth owing to the factors such as growing acceptance of wearable devices as well as the development of remote patient management systems. However, the market for wearable sensors will face challenges and restraints due to the high cost of wearable devices and the race to find cost-effective alternatives during the forecast period 2018 to 2025.
Competitive Dashboard
The prominent players operating in the global wearable sensors market comprises Freescale Semiconductor Inc., KIONIX INC. (ROHM Co., Ltd.), InvenSense Inc., Panasonic Corporation, Analog Devices Inc., STMicroelectronics, ZOLL Medical Corporation (Asahi Kasei Corporation), InvenSense Inc., Measurement Specialties Inc., Robert Bosch GmbH, Infineon Technologies AG., and Texas Instruments Incorporated.
Market Segmentation
Global Wearable Sensors Market, by Type
Motion Sensors
Medical-Based Sensors
Image Sensors
Position Sensors
Pressure Sensors
Inertial Sensors
Other Sensors
Global Wearable Sensors Market, by Application
Smart Wristwear
Smart Glasses
Smart Bodywears
Smart Footwear
Other Wearable Devices
Global Wearable Sensors Market, by End User
Consumer Applications
Healthcare Applications
Enterprise and Industrial Applications
Regional Insights
Geographically, the wearable sensors market span across regions namely, Europe, North America, Asia Pacific, and the Rest-of-the-World (RoW).
Considering the global scenario, the North American region is poised to occupy the most significant share as the region offer room to the most prominent players and is in a position to adopt technological advancements at its earliest. High adoption of digital technology in the U.S. has further intensified the growth of the market in this region. With the booming healthcare infrastructure, the market is estimated to flourish.
The European region occupies the second spot and is anticipated to evolve at a significant pace in the foreseeable future. With advancing technology and purchasing power required for the market growth, the region is anticipated to gain an impetus. Moreover, the conscious awakening regarding healthy lifestyle is considered a major factor propelling the market growth in the long run.
The Asia Pacific region is estimated to expand at the fastest rate as the strong economic growth has infused healthy purchasing power which is estimated to encourage the proliferation of wearable sensors in the coming years.
Recent Development
December 2020: A proof-of-concept for a wearable sensor recording healing in skin wounds was proposed by researchers from Skoltech and Texas University at Austin. The new research investigated using a 'smart bandage' to track those biomarkers during the healing process with electroanalytical techniques, and without the need for bandage removal.
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