Temperature Sensor Segment of Global Body Sensor Market to Touch Robust CAGR of 21.9% in 2017
Temperature sensor segment is likely to capture 18.8% of market share and likely to be valued US$ 23.0 Mn, expanding at Compound Annual Growth Rate of 21.9%.
Albany, NY -- (SBWire) -- 10/11/2017 --With steady CAGR, global body sensor market is anticipated to grow consistently throughout out the projected period of five years, i.e. 2017 to 2022. "Body Sensor Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2022," is the new report that has been added to the database of Market Research Reports Search Engine (MRRSE). According to this report, the global market for body sensor is gaining traction from several factors like, increasing number of fitness buffs, growing elderly population that need continuous monitoring, rising use of body sensors by various sports leagues to improve the physical abilities of sports players, and increasing use of smartphones.
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Global Body Sensor Market- Trends
- Rising preference towards cheaper and smaller sensors
- Increasing advantages of wearable devices in IoT and healthcare industry
- Increasing geriatric population that needs frequent monitoring
- Rising urbanisation, increasing per capita income and changing lifestyle
- Frequent use of smartphone
- Rising number of fitness lovers
Global Body Sensor Market- Segmental Analysis
The type segment includes respiration sensor, EEG sensor, EMG sensor, ECG sensor, blood pressure sensor, temperature sensor and visual sensor. In 2017, temperature sensor segment is likely to capture 18.8% of market share and likely to be valued US$ 23.0 Mn, expanding at Compound Annual Growth Rate of 21.9%. This segment is anticipated to reach the value of US$ 62.0 Mn by the end of 2022 and expected to capture 21.2 % market share. The absolute growth of this segment is higher than other segments which is likely to grow at US$ 7.8 Mn every year. The application segment is consists of defense, sports body sensor, healthcare and man-machine interface. In this segment, healthcare segment is likely to grow at a higher rate due to various types of devices that are getting launched into the market. On the basis of placement type, the market is segmented into implantable and wearable.
Global Body Sensor Market- Regional Analysis
Although North America is likely to dominate the global body sensor market due to its highest demand in the region, almost all the regions are witnessing robust growth the worldwide market of body sensor. In 2017, North America market for body sensor is likely to be valued at US$ 37.2 Mn with a healthy CAGR of 22.1% throughout the forecasted period, while in 2022 the North America market is expected to outshine other regions and is anticipated to reach the value of US$ 100 Mn. Increasing elderly population, excellent purchasing ability among the population of Canada and the U.S. and higher rate of adoptability of innovative technology are some of the factors which are contributing in the growth of North America body sensor market. In case of other regions, Asia Pacific (Excluding Japan) has higher CAGR than Europe, although Europe represents as the second largest market for the body sensor across the globe.
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Global Body Sensor Market- Key Vendors
Texas Instruments Inc., NXP Semiconductors NV, Apple Inc., Koninklijke Philips N.V., Garmin Ltd., Abbott Laboratories, Fitbit, Inc., Analog Devices, Inc., STMicroelectronics NV, and Broadcom Ltd., are some of the key players functioning in the global body sensor market.
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