Global Wearable Sensor Market to Expand at 45.20% CAGR from 2014 to 2020 owing to Growing Healthcare Concerns

Transparency Market Research has published a new report on the global wearable sensor market. As per the report, the global wearable sensor market is predicted to expand at a 45.20% CAGR from 2014 to 2020. The report, titled ‘Wearable Sensor Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020,’ states that the global wearable sensor market was valued at US$70 mn in 2014 and is expected to expand rapidly due to factors such as growing healthcare expenses and the rising demand for technically advanced wearable devices.

Wearable sensors or micro-electromechanical systems (MEMs) are fixed in wearable devices, primarily to monitor bodily activities such as blood pressure, heart rate, and body temperature. The global wearable sensor market is one of the fastest growing markets in the world. With many new advancements in wearable devices and the decrease in the price of required raw materials, the global wearable sensor market is set to develop rapidly in the years to come. Even though security and compliance issues pose restrictions on the growth of the global wearable sensor market, factors such as the increasing penetration of smart devices, integration of wearable sensors for health monitoring, and open data ecosystems through wearable devices are predicted to create growth opportunities in the global wearable sensor market in the next few years.

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The increasing awareness about health and fitness has led to the growth of the global wearable sensor market in the recent past. The falling prices of various components used to make wearable sensors are expected to make the devices affordable in the near future. The global wearable sensor market is segmented on the basis of geography, application, and product type. Based on geography, the global wearable sensor market is divided into Europe, North America, Asia Pacific, and Rest of the world.

Based on product type, the global wearable sensor market is classified into motion sensors, pressure sensors, temperature sensors, image sensors, position sensors, medical-based sensors, and others.

The introduction of smart devices and smart watches from leading companies such as Nike, Sony, and Samsung has created new growth opportunities in the global wearable sensor market. Some of the applications of wearable sensors are wrist wear, foot wear, body wear, and others. Over the past few years, leading players have been focusing on adopting high-end technologies for manufacturing high-quality wearable devices. In 2014, by application, the global wearable sensor market was led by the wrist-wear segment, which accounted for US$32.6 mn. The wrist-wear segment is predicted to expand at a 45.0% CAGR during the period between 2014 and 2020.

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Based on region, the global wearable sensor market is divided into Asia Pacific, Europe, North America, and Rest of the World. In 2014, the global wearable sensor market was led by North America, followed by Europe. In 2014, in terms of revenue, Europe accounted for 38% of the global wearable sensor market.

Key Segments of Global Wearable Sensor Market

Wearable Sensors Market: By geography

North America
Europe
Asia Pacific
Rest of the World

Wearable sensors Market: By product type

Motion sensors
Pressure sensors
Temperature sensors
Image sensors
Position sensors
Medical based sensors
Others

Wearable sensors Market: By application

Wrist wear
Eye wear
Foot wear
Body wear
Others

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This release was published on openPR.