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Wearable Sensors Market Trends Analysis 2024 With Key Players NXP Semiconductors, Panasonic, STMicroelectronics, ZOLL Medical Corporation and Texas Instruments
Wearable Sensors Market
The wearable sensors market includes notable players such as NXP Semiconductors, Panasonic, STMicroelectronics, ZOLL Medical Corporation, Texas Instruments, Kionix, Inc., Measurement Specialists, Free Scale Semiconductors.
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Increasing advancement toward miniaturized, smart, and low cost sensors will prove to be a major factor for the wearable sensors market growth. Recent advancements in the sensor manufacturing, microelectronics and telecommunication, have provided pathways for acceptance and implementation of wearable sensor market in the digital health environment. Lower costs, miniature circuits, data transmission through wireless means, consumer electronic device integration, and microcontroller functions have outpowered the downfalls of formerly used electronics based sensors. In addition, continued growth in usage of wireless connections is anticipated to boost the wearable sensors market demand during the forecast timeline.
Rising share of aging population and application of wearable sensors to observe patients will contribute the wearable sensors market growth. However, the usage of such products has not only been limited to the healthcare sector, as it has expanded into various other sectors like sports, military, entertainment and fitness.
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By application, the industry can be segmented into neck wear, body wear, wrist wear, footwear, eyewear etc. For wristwear application, healthcare vertical is one of the major sectors due to applications such as fitness monitoring and GPS tracking. Bodywear is predicted to grow at the significant rate and is expected to be the most profitable application segment throughout the forecast time span. The growth of this segment is primarily credited to widespread usage in consumer electronics, medical and industrial sectors.
The end user segment in the wearable sensors market is classified in to aerospace and defense, healthcare, consumer applications, healthcare, enterprise, infotainment and multimedia, fashion, fitness and industrial applications. In the consumer goods vertical, smartphones and tablets are among the major devices that support the smooth functioning of wristwear devices for navigation and position detection applications. Moreover, wristwear devices are widely used by sports, healthcare, and fitness enthusiasts spurring the demand for wearable sensors market.
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Based on product, the business can be fragmented into inertial measurement units, motion sensors, medical based sensors, image sensors, position sensors, pressure sensors and inertial sensors. The medical- based sensors is further classified into blood oxygen sensors, blood glucose sensors, blood flow sensors, ECG sensors, heart rate sensors
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