Wearable Sensors Market is Expected To Increase On Account Of Growing Awareness Regarding Health And Fitness

Wearable sensors are components of smart micro-controller enabledelectronic devices which can be worn or implantedor be incorporated into clothing as accessories. The sensors can sense stimuli such as temperature, movement, and others and exchange the data without human intervention. The global wearable sensors market is witnessing a growth cliffand is set to an exponential growth. Wearable sensors perceive a massive demand owing to rapid adoption and omnipresence of smart devicesand the exponent growth of end-users.

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According to Market Research Future (MRFR), the global wearable sensors market is expected to garner a valuation of USD 11,076.90MN by the end of 2025. In its recently published analysis, MRFR also asserts that the market would register an impressive CAGR of over 46.73% during the assessment period (2016-2025). The growing capacity and capabilities of wearable sensors owing to technological revolution such as the Internet of Things, growing adoption of internet and smart devices, falling cost of electronic manufacturing and the growing application expanse of wearable devices technology.

The rise of technological convergence is another driver for the market and the smart sensors are expected to become ubiquitous as mobiles.The rapid growth of the consumer electronics, explosive popularity of smartwatch and activity trackers and the adoption of technology into textiles, healthcare and navigation is another driver of the market.

New product development using latest technology is expected to increase the market demand. Healthcare and wellness sector are attracting a large demand for wearable sensors exemplified by the smart hearing aids. Additional factors that are substantiating the market growth include growing per capita income, miniaturization, development of artificial intelligence and algorithms and the advances in computing. Additional factors that are fostering the market demand include the dramatically rising end-use industries such as consumer electronics, healthcare and medical devices.

However, the market is also fraught with risks as exemplified by Google glass sales. The hearing aid devices are expected to be one of the fastest growing markets. Adoption by a large number of customers is a key for market growth and the reason behind acquisitions of Fitbit by Google.

Global Wearable SensorsMarket - Segments

The report is segmented into four dynamics to widen the scope of understanding,

By Type : Motion Sensors, Medical-Based Sensors, Image Sensors, Position Sensors, Pressure Sensors, Inertial Sensors, among others.

By Application : Smart Wristwear, Smart Glasses, Smart Bodywears, Smart Footwear, And Other Wearable Devices among others.

By End-Users : Consumer Applications, Healthcare Applications, Enterprise and Industrial Applications among others.

By Regions : North America, Europe, Asia Pacific, and the Rest-of-the-World.

Global Wearable SensorsMarket - Regional Analysis

North America dominates the global wearable sensors market owing to rapid adoption of latest technology, large per capita income, presence of large players and high investments in technology and research and development. The large research and technological ecology of the U.S. and the largeindustrial base provide a huge impetus to the growth of the market in the region.

The wearable sensors market in Europe is expected to make rapid strides. The proliferating healthcare and medical devices industry in the region is driving a substantial market growth.

The Asia Pacific wearable sensors market is projected to emerge as the largest market in the future. Growing manufacturing activities and technological base coupled with the growing adoption of internet and smart technology is expected to drive the growth of the regional market.

Global Wearable SensorsMarket - Competitive Landscape

The wearable sensors market is a consolidated market dominated with large players possessing proprietary technologies. Playersarecollaborating with other players to reduce the cost of development and market risk.

Manufacturers of wearable sensorsalso entering into agreements so as to benefit from each other's marketing platform. Large R&D expenditures and long development times is hampering the market owing to large commercialization times. Players are also acquiring other companies so as to reduce the commercialization times and achieve a larger footprint and proprietary technology. Companies are targeting the early adopter customer segment such as the sports and fitness industry.

Major Players:

Players leading the global wearable sensors market include Wearable Technologies Service GmbH, InvenSense, Inc., Xsens Technologies, Rackspace Hosting Inc., Google Inc., STMicroelectronics, among others.

Industry/ Innovation/ Related News:

November 01, 2019 ---- Google announced acquisition of Fitbit for approximately $2.1 billion, or almost $7.35 per share. The move came as Google struggles to make a space in the smart devices market after the poor sales of google glass. Google is expected to gain a large market share and a largenumber of users with almost 100 million devices sold. Google will also gain custody of large wellness and behavioural data. Google has also stressed that Fitbit data will not be employed by Google for advertisements and it will provide Fitbit users the choice to delete their data.

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This release was published on openPR.