DUBLIN–(BUSINESS WIRE)–Feb 9, 2021–
The "Wearable Sensors Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)" report has been added to ResearchAndMarkets.com’s offering.
The market for wearable sensors has registered a CAGR of 19.15% during the forecast period (2021 – 2026).
Primarily, owing to digitalization, the electronic industry has prospered significantly. Thereby, driving the market for wearable technology devices, which are widely used for self-health monitoring applications.
- Infineon Technologies AG
- Texas Instruments Incorporated
- Analog Devices Inc.
- InvenSense Inc.
- Freescale Semiconductor Inc
- Panasonic Corporation
- NXP Semiconductors NV
- TE Connectivity Ltd
- Bosch Sensortec GmbH (Robert Bosch GmbH)
Key Market Trends
Healthcare and Fitness Sector Expected to Occupy the Highest Market Share
One of the most transformative shifts in the wearable sensor market can be observed in the healthcare sector. Digitization of products, services, and commerce models is democratizing the current healthcare systems, integrating them with the latest technologies. This trend is increasing the demand for connected health technologies, such as wearables, telehealth, artificial intelligence, virtual reality, and others, which support targeted health and well-being services.
- From tracking air quality through inhaler use to detecting breast cancer with bra inserts, healthcare wearable devices are used in different applications for personalized treatment or therapy. Lower regulatory hurdles, faster time to market, unmet needs of doctors to continuously obtain medical quality data from their patients, early diagnosis, and some more factors continue to be the primary drivers for the market.
- The current market is dominated by large consumer health wearable companies, such as Fitbit, Apple Watch, Samsung Galaxy Gear S, Misfit, Xiaomi, and several others. There is substantial competition in the market, among the major players. One example is the case of Microsoft, a pioneer in wearable space that has recently reported that it will discontinue its Band fitness tracker.
- There have been several advancements in the healthcare sector, such as introducing hearables or wireless computing earpieces, and brainwave-reading technology. For instance, continuous glucose monitors (CGMs) are becoming increasingly popular with diabetic patients, who can wear the device at all times to keep an eye on their glucose levels.
North America Expected to Occupy a Significant Market Share
North America has the highest penetration of wearable sensors, as the region is an early adopter of newer technology. Increasing demand across various application sectors, such as wearable technology for fitness, healthcare, and security, is driving the lucrative growth of the North American wearable sensors market.
- The region’s dominance is due to the push to maintain healthy lifestyles in countries, such as the United States and Canada. Also, the increasing demand for wearable devices in the region, in the consumer products sector, is due to the rising demand for wristwear and bodywear products in the market. The rapid increase in technological advancements in this region also contributes to the growth of the North American wearable sensors market.
- Also, the increasing developments and innovations by US-based companies have contributed significantly to the market in the region, and specifically in the United States, resulting in increasing usage of wearable devices. In the United States, wearables have proven to be popular among consumers and are steadily expanding into new industries, including healthcare. For instance, researchers at Northwestern University generated small, sticker-like wireless biosensors that monitor important vital signs, without the need for large equipment and wiring.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain / Supply Chain Analysis
4.3 Industry Attractiveness – Porter’s Five Forces Analysis
5 MARKET DYNAMICS
5.1 Introduction to Market Dynamics
5.2 Market Drivers
5.2.1 Increasing Awareness about Health and Fitness
5.2.2 Increasing Trend of Smart Wearable Devices
5.3 Market Restraints
5.3.1 High Costs Associated with Gadgets
5.4 Market Opportunities
6 MARKET SEGMENTATION
6.1.5 Other Types of Sensors
6.2.1 Health and Wellness
6.2.2 Safety Monitoring
6.2.3 Sports and Fitness
6.2.4 Other Applications
6.3.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 Rest of Asia-Pacific
6.3.4 Latin America
6.3.5 Middle East & Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
8.1 Investment Analysis
8.2 Future Outlook
For more information about this report visit https://www.researchandmarkets.com/r/g1qp9w
View source version on businesswire.com:https://www.businesswire.com/news/home/20210209005586/en/
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INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS
SOURCE: Research and Markets
Copyright Business Wire 2021.
PUB: 02/09/2021 05:53 AM/DISC: 02/09/2021 05:53 AM