Albany, NY -- (SBWIRE) -- 01/16/2018 -- The global body sensor market is projected to expand at a steady CAGR during the forecast period of 2017 to 2022, gaining traction from a number of factors such as increasing population of geriatrics who need constant monitoring, growing number of fitness enthusiasts, ubiquity of smartphones, and escalating usage of these sensors by professional sports leagues to enhance physical abilities of sportspersons. Body sensors are wireless computing devices, which can be surface-mounted on the body or installed inside the body implants. They can also be carried on clothes pockets, hand, or bags.
Increasing preference towards smarter, smaller, and cheaper sensors, growing benefits of wearable devices in the healthcare industry, and relentless research and development in the fields of the Internet of Things (IoT), Augmented Reality (AR), and Man-to-Machine (M2M) are some of the key factors paving a favorable future for the global body sensor market. On the other hand, the market for body sensor is hindered by the challenges in supply chain and distribution channel, privacy and security concerns, regulatory issues, and cost of these products. Nevertheless, the increasing number of connected devices and numerous application possibilities are opening new opportunities, provided the technical difficulties pertaining to hardware and software are met.
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The market overview section of the report explores the market dynamics such as drivers, restraints, and opportunities that currently have a strong impact on the global body sensor market and could influence the market in the near future. Market attractiveness analysis has been provided in the market overview section in order to explain the intensity of competition in the market across different geographies. The competitive scenario among different market players is evaluated through market share analysis in the competitive landscape section of the report. All these factors would help market players to take strategic decisions in order to strengthen their positions and expand their shares in the global body sensor market.
Some of the key factors driving the global body sensor market are: growing number of fitness enthusiast, especially among the urban population wherein awareness against ill-effects of sedentary lifestyle is rising, escalating percentage of geriatric population who need constant monitoring, increasing dependency on smartphones, and proven worth in professional sports to track physical abilities of athletes. On the other hand, cost of body sensors and the lack of a defined distribution channel is obstructing the market from attaining its true potential.
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On the basis of product type, the global body sensor market has been segmented into EEG sensor, ECG sensor, respiration sensor, visual sensor, temperature sensor, blood pressure sensor, and EMG sensor, whereas on the basis of placement type, the market has been bifurcated into wearable and implantable. In 2017, temperature sensor segment accounted for the maximum demand, and is expected to remain highly profitable throughout the forecast period. Application-wise, the market for body sensor has been categorized into healthcare, man-machine interface, defense, and sports body. Geographically, the report takes stock of the potential of body sensor market in the regions of North America, Europe, Latin America, Asia Pacific except Japan (APEJ), and The Middle East and Africa, as well as in the country of Japan. Currently, North America is most lucrative region, whereas APEJ has been projected to expand the demand at most robust rate during the forecast period of 2017 to 2022.
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Highly dependent on innovation, the global body sensor market is currently dominated by some of the prominent technology and healthcare companies, such as Apple Inc., Fitbit, Inc., Abbott Laboratories, Koninklijke Philips N.V., NXP Semiconductors NV, STMicroelectronics NV, Texas Instruments Incorporated, Analog Devices, Inc., Garmin Ltd., and Broadcom Ltd.