Body Sensor Market: By Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022
Albany, NY -- (SBWIRE) -- 09/07/2017 -- 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.
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Among the global body sensor market market's sensor type segments, temperature sensor remains lucrative, representing US$23.0 mn worth of the market, or 18.5% in 2017. Growing at a CAGR of 21.9%, the temperature sensor segment is estimated to be worth US$62.0 mn by 2022; it is projected to represent 21.2% of the overall demand share. It is projected to grow at US$7.8 mn annually over the course of the forecast period, and this absolute growth is larger than the any other segment.
The other product types segments analyzed under the report are: EEG sensor, visual sensor, respiration sensor, ECG sensor, blood pressure sensor, and EMG sensor. Application-wise, the healthcare sector is expected to act as biggest driver in the long run, owing to wider variety of device type and use opportunities.
All regions are showing strong growth in the body sensor market, although North America is expected to maintain its position as the region that will account for the highest demand. Valued at US$37.2 mn in 2017, the North America body sensor market is projected for an above-average CAGR of 22.1% during the forecast period of 2017 to 2022, surpassing US$100.0 mn mark by 2022.
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Stronger buying ability among consumers in the U.S. and Canada, high adoptability rate of new technology, and escalating geriatric population are some of the factors aiding the North America body sensor market.
Some of the key companies in the global body sensor market are: Apple Inc., Fitbit, Inc., Koninklijke Philips N.V., Texas Instruments Inc., Abbott Laboratories, Broadcom Ltd., STMicroelectronics NV, NXP Semiconductors NV, Analog Devices, Inc., and Garmin Ltd.