Global wearable sensors market was valued at USD 70 million in 2014, growing at a CAGR of 45.2% from 2014 to 2020. Wearable sensor is one of the most important components of wearable technologies. Wearable sensors are embedded into wide range of wearable devices enabling it with various sensing functions including image sensing, pressure sensing, motion sensing and temperature sensing among others.
Albany, NY -- (SBWIRE) -- 04/29/2016 -- Wearable sensors are Micro-Electromechanical Systems (MEMs) based sensors which can sense and process the surrounding environment. Wearable sensors are embedded in wearable devices to monitor bodily activities which include blood pressure, body temperature and heart rate. The market is primarily driven due to the rising awareness of health and fitness, where wearable sensors play a major role. Moreover, the falling price of the components used to manufacture the wearable sensors is making the wearable devices affordable. In addition to this, the wearable sensors are also being used to monitor patients in the healthcare industry as it enables remote data access.
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The global wearable sensors market is expected to witness a significant growth during the forecast period. This is due to its increasing demand across various application sectors such as wearable technology for fitness, healthcare and security. The increase in demand of wearable technology is also driving the wearable sensors market. In addition, the growing market of smartphones and tablets is also enabling the integration of wearable devices with the smartphones. Presently, wrist wear segment holds the majority of the market share and is expected to dominate the market during the forecast period. The introduction of smart watches from companies like Samsung, Sony and Nike among others has given a boost to this market. Furthermore, the foot wear application market is also expected to grow rapidly during the forecast period.
Adoption of high end technologies such as smart wearables is also creating new opportunities for the wearable sensors manufacturers globally. However, the case of security concerns such as important data being shared is acting as a restraint. The rising awareness and concern over health and fitness is also helping the market to grow. With the introduction of fitness band that can be worn and connected with smart phones to display the data is also supporting the growth of the market. Geographically, North America has the highest penetration for wearable sensors as they are the early adapters of newer technology. However, the Asia Pacific region is expected to show the highest rate due to the presence of developing nations like India and China.
This market research study analyzes the bearing market on a global level and provides estimates in terms of revenue (USD million) from 2014 to 2020. It recognizes the drivers and restraints affecting the industry and analyzes their impact over the forecast period. Moreover, it identifies the significant opportunities for market growth in the coming years.
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The market is segmented on the basis of geography as North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) and these have been estimated in terms of revenue (USD million). In addition, the report segments the market based on the product type, which include motion sensors, pressure sensors, temperature sensor, image sensors, position sensors, medical based sensors and others. Wearable motions sensors are most widely used in wearable technology. On the basis of application, the market is segmented by wrist wear, eye wear, foot wear, body wear and others. All these segments have also been estimated on the basis of geography in terms of revenue (USD million).
For better understanding of the wearable sensors market, we have given a detailed analysis of the supply chain. A detailed Porter's five forces analysis has been given for a better understanding of the intensity of the competition present in the market. Furthermore, the study comprises a market attractiveness analysis, where the applications are benchmarked based on their market scope, growth rate and general attractiveness.
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The report provides company market share analysis of various industry participants. The key players have also been profiled on the basis of company overview, financial overview, business strategies and the recent developments in the field of wearable sensors. Major market participants profiled in this report include STMicroelectronics, Texas Instrument, Freescale Semiconductor Inc. and InvenSense, among others.
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