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Global Wearable Sensors Market (Size of $157 million in 2014) to Witness 47% CAGR during 2015 -2020

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Published Date:   May 2015

The global wearable sensors market is expected to reach $1,630.3 million by 2020, registering a CAGR of 46.6% during 2015–2020 (forecast period). Major factors supporting the market growth include advancements in the sensor and wireless communication technologies and the rising need for remote patient monitoring across the globe.

On the basis of type, the wearable sensors market is categorized into motion, medical, image, position, pressure, inertial, and other sensors. Among these, motion sensors held the largest share in the market in 2014. However, the fastest growth in demand during the forecast period is expected for medical sensors. This can be attributed to the rising adoption of medical sensors in the healthcare industry for patient monitoring in terms of heart rate, blood sugar levels, and blood pressure.

Based on end use, the wearable sensors market is classified into three types: consumer, healthcare, and enterprise & industrial. During the forecast period, the market is expected to witness the highest demand for wearable sensors for consumer applications, primarily propelled by the miniaturization of the sensor technology. The deployment of sensors (such as accelerometers and inertial sensors) in wearables for consumer application in areas of fitness, sports, entertainment, multimedia, and fashion would drive the market growth in this category.

Asia-Pacific (APAC) is expected to account for a substantial share in the global wearable sensors market during the forecast period. The market in the region is driven by the growing demand for smart wearable devices in high-population countries such as China and India. Moreover, the growth of the market in APAC is supported by the growing healthcare industry and the increasing consumer awareness on the importance of health and fitness. Thus, the rising adoption of smart wearables is expected to drive the demand for wearable sensors in the region in the coming years.

The growth of the wearable sensors market in Europe is mainly driven by technological innovations leading to the introduction of new products, increasing incidence of chronic diseases, and surging population of diabetic patients. Consumers in Europe are more likely to use smart watches and wrist-worn health monitors than other gadgets with built-in sensors.

With increasing geriatric population in western countries and growing incidence of lifestyle diseases, such as hypertension, cardiovascular diseases, and diabetes, the demand for remote patient monitoring systems has considerably increased. Moreover, with the rise in prevalence of chronic diseases, the overall spending on healthcare facilities has increased, thereby stressing the need for constant health monitoring. Since wearables facilitate remote patient care, visits to the hospital and healthcare expenditure get significantly reduced.

In the U.S., insufficient sleep is a general health issue, and the development of sensor-based devices (such as Fitbug and Fitbit) has allowed the users to monitor their sleep patterns. In the coming years, the integration of medical sensors in consumer electronics would support remote care and data extraction for tracking and analyzing in digital health programs. This, in turn, would positively affect the growth of the wearable sensors market.

Explore detailed TOC and Scope of the report: https://www.psmarketresearch.com/market-analysis/wearable-sensors-market

Some of the key players operating in the wearable sensors market are InvenSense Inc., NXP Semiconductors N.V., Panasonic Corporation, Robert Bosch GmbH, STMicroelectronics N.V., Texas Instruments Incorporated, Kionix Inc. (ROHM Co. Ltd.), Measurement Specialties Inc., Analog Devices Inc., ZOLL Medical Corporation (Asahi Kasei Corporation), Freescale Semiconductor Inc., and Infineon Technologies AG.

WEARABLE SENSORS MARKET SEGMENTATION

By Application

  • Smart Wristwear
  • Smart Glasses
  • Smart Bodywear
  • Smart Footwear
  • Others

By End Use

  • Consumer
  • Healthcare
  • Enterprise & Industrial

By Type

  • Motion Sensors
  • Medical Sensors
  • Image Sensors
  • Position Sensors
  • Pressure Sensors
  • Inertial Sensors
  • Others

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • Netherlands
    • Rest of Europe
  • Asia-Pacific (APAC)
    • India
    • China
    • Japan
    • Australia
    • Rest of APAC
  • Rest of the World (RoW)
    • Brazil