Wearable Sensors Market Key Player profile, Size, Share, Growth, Trends 2027
Market Overview
According to MRFR, the Global Wearable Sensors Market is poised to mature at a CAGR of 46.73% and is anticipated to reach USD 11.07 Billion by 2025. The increase of in-home wearable sensors for babies and remote patient control are fast sensor technology developments that are the key drivers of market development.
Market Drivers & Trends
Global wearable sensors market is mainly being driven by increasing demand for wearables for infants as well as continuous evolvement of sensor technology. Other factors such as increasing personal care and health consciousness for tracking biometrics such as calories burnt, heart rate, and among others, demand for wearable sensor devices, which in turn is bolstering the market exponentially.
Other than this, the rapid expansion of the internet of things (IoT) is also driving the global wearable sensor market. The inclusion of this device, mainly in healthcare and fitness, consumer electronics, and others, are also capitalizing the market. Digitalization has also played a vital role in the wearable sensor devices with improving technology, which has motivated people in changing their lifestyles by raising health and safety awareness factors are stimulating the growth of wearable devices.
Wearable devices come in various forms such as Fitbit, ear wears, smartwatches, wrist wears, and microwear. These devices are technologically advanced, and it caters exact information about health & fitness after wearing. Thus, the inclusion of technology has maturely stimulated the global wearable sensors market with a high prospect in the foreseen years. With high demands of these devices, from across the world, it has become beneficial for the market players to introduce opportunities for the future and capitalize the revenue of the market.
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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