The global wearable sensors market is segmented into end user such as enterprise & industrial, healthcare, consumer and others. Among these segments, consumer segment is expected to occupy the top position in the market. The rise of the consumer segment is backed owing to swelled disposable income coupled with changing lifestyle of the consumer. Moreover, mounting demand for wearable devices such as smart fitness bands and others is also fostering the demand for wearable sensors.
Global wearable sensors market is expected to register a notable CAGR over the forecast period. Moreover, the global wearable sensors market is estimated to reach USD 1,943.6Million over the forecast period i.e. 2017-2024. The market is expected to expand on the back of increasing concerns among the population towards health and fitness.
The wrist wear segment by application is projected to witness a highest CAGR during the forecast period owing to growing popularity of wrist fitness bands and smart watches. Further, availability of numerous wrist wearable products in the market is also predicted to positively impacting the growth wrist wear segment. In terms of regional platform, North America region grasped the biggest market in overall wearable sensors market in 2016 aided by U.S. Further, this growth is attributed to the high rate adoption of innovative and advanced technology.
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Increasing healthcare expenditure
Rise in healthcare expenditure coupled with swift advancement in healthcare device to provide better medical facilities is projected to be dynamic factor behind the rapid growth of wearable sensors market. In addition to this, growing usage of wearable sensors in various medical devices along with integration of new technologies like emergency cardiac arrest alarm and pre detection of diseases is expected to flourish the growth of wearable sensors market across the globe.
Evolution of wearable devices
Rising consumer awareness regarding health and wellness coupled with growing inclination of consumer towards monitoring devices such as smart wearable devices is envisioned to foster the growth of wearable sensors market by the end of 2024. Moreover, miniaturization of wearable sensors and continuous research and development in the field of wearable sensors are some of factors fuelling the growth of wearable sensors market.
On the contrary, high cost of wearable sensors equipped devices and lack of awareness towards wearable healthcare devices are believed to restrain the growth of wearable sensor market across the globe.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global wearable sensor market which includes company profiling of Robert Bosch GmbH, NXP semiconductors (Freescale Semiconductor, Inc.), Broadcom Limited, ST Microelectronics, Shimmer technologies, Infineon Technologies AG, Analog devices Inc., TE Connectivity Ltd., mCube, Inc. and Knowles Electronics. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global wearable sensor market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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