Wearable Sensors Market worth 1654.0 Million USD by 2022
According to the new market research report “Wearable Sensors Market by Type (Accelerometers, Magnetometers, Gyroscopes, Image Sensors, Inertial Sensors, Temperature & Humidity Sensors, Pressure & Force Sensors, Touch Sensors and Motion Sensors), Application (Wristwear, Eyewear, Bodywear), Vertical, and Geography – Global Forecast to 2022“, The wearable sensors market is expected to grow from USD 189.4 Million in 2015 to USD 1,654.0 Million by 2022, at a CAGR of 30.14% between 2016 and 2022.
The major factors driving the growth of the wearable sensors market include the increasing advancement toward smaller, smarter, and cheaper sensors, miniaturization trend in sensors, and mounting benefits of wearable devices in the healthcare sector.
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“Accelerometers expected to hold a major share of the wearable sensors market during the forecast period”
Accelerometers are among the major sensors used in the wearable sensors market. Some of the prominent applications of wearable technology for this sensor are in wearable devices such as wristwear, bodywear, and eyewear. The demand for wristwear in sectors such as medical, healthcare, and consumer electronics is more compared with other end-user industries. Accelerometer sensors are widely used to detect velocity, position, shock, and vibration. They are widely used in smart watches and smart bands for tracking and navigation purposes.
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“Market for bodywear application expected to grow at the highest rate between 2016 and 2022”
The wearable sensors market for the bodywear application is expected to witness the highest growth rate between 2016 and 2022. These are widely used in consumer electronics, industrial, and medical sectors for various applications. The bodywear application consists of textiles embedded with sensors, which is an emerging trend in the market. Bodywear offering works on fibertronics technology which integrates electronics and computational functionality into textile fabrics. They have attracted the emerging trend of techno-fashion clothing that brings sensors close to our skin for measuring various health and fitness parameters.
“Wearable sensors market in North America expected to grow at the highest rate during the forecast period”
Wearable sensors have a growing demand in North America owing to the increasing focus of the region toward industrial, consumer electronics, and healthcare sectors. In this study, the North American market has been segmented into Canada, Mexico, and the U.S. The APAC region is among the major markets for various sectors such as consumer electronics and industrial. Moreover, Europe is one of the potential markets for healthcare and industrial sectors as countries such as the U.K, Germany, and France are actively trying to strengthen their position in these markets.
The major companies involved in the development of wearable sensors include
NXP Semiconductors N.V. (Netherlands), STMicroelectronics N.V. (Switzerland), TE Connectivity Ltd. (U.S.), Broadcom Limited (U.S.), Knowles Electronics, LLC. (U.S.), Analog Devices, Inc. (U.S.), Infineon Technologies AG (Germany), Asahi Kasei Corporation (Japan), Sensirion AG (Switzerland), InvenSense, Inc. (U.S.), Robert Bosch GmbH (Germany), Texas Instruments Incorporated (U.S.), Panasonic Corporation (Japan), mCube, Inc. (U.S.), ams AG (Austria), and ARM Holdings Plc. (U.K), among others.
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