Press release
At a CAGR of 11.6% Body Area Network Market Size to Reach $30.24 billion by 2030 | Apple Inc., Fitbit, Inc., Fossil Group, Inc., Garmin Ltd., Google LLC, Huawei Technologies Co., Ltd., Samsung Electronics Co., Ltd., Sensoria Inc
According to the report published by Allied Market Research, the global body area network market generated $10.29 billion in 2020, and is projected to reach $30.24 billion by 2030, witnessing a CAGR of 11.6% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.The growth of the global body area network market is anticipated to be driven by factors such as increased use of smart devices for tracking physical fitness, and rapid developments in medical devices & communication technologies. In addition, increase in government support and rise in sales of smartwatches and smart bands boost the overall market growth. However, concerns in regards to security and privacy act as major restraints for the global body area network industry. On the contrary, high demand from the Asia-Pacific region, is expected to create lucrative opportunities for the body area network industry.
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Key Benefits For Stakeholders
• This study comprises analytical depiction of the global body area network market along with the current trends and future estimations to depict the imminent investment pockets.
• The overall body area network market analysis is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The current body area network market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
• Porter’s five forces analysis illustrates the potency of the buyers and the body area network market share of key vendors.
• The report includes the market trends and the market share of key vendors.
The report offers detailed segmentation of the global body area network market based on components, connectivity, device type, end user, and region.
Based on device type, the wearable devices segment held the highest market share in 2020, holding around four-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is estimated to register the highest CAGR of 11.8% from 2021 to 2030.
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Based on components, the sensors segment held the largest market share in 2020, holding one-fourth of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is projected to register the highest CAGR of 13.8% from 2021 to 2030.
Based on region, North America contributed to the highest share in terms of revenue in 2020, holding nearly one-third of the global body area network market, and is estimated to continue its dominant share by 2030. However, Asia-Pacific region is projected to manifest the fastest CAGR of 13.5% during the forecast period.
Leading players of the global body area network market analyzed in the research include Apple Inc., Fitbit, Inc., Fossil Group, Inc., Garmin Ltd., Google LLC (Alphabet Inc.), Huawei Technologies Co., Ltd., Samsung Electronics Co., Ltd., Sensoria Inc., TomTom International B.V., and Xiaomi Corporation.
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Key Market Segments
By Device Type
• Implantable Devices
• Wearable Devices
• Smartwatches
• Fitness Bands
• Others
By Components
• Processors
• Memory Modules
• Displays
• Sensors
• Electromechanicals
• Communication & Interface Components
• Others
By Connectivity
• Bluetooth
• Wi-Fi
• ZigBee
• Others
By End User
• Healthcare
• Sports
• Fitness
• Others
By Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o UK
o Germany
o France
o Italy
o Rest of Europe
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia-Pacific
• LAMEA
o Latin America
o Middle East
o Africa
Read More at https://www.globenewswire.com/news-release/2021/10/04/2307528/0/en/Global-Body-Area-Network-Market-to-Reach-30-24-billion-by-2030-Allied-Market-Research.html
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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