Wearable Sensor Market - Rising Demand for Technically Advanced Wearable Devices
Recently, these sensors became increasingly popular attributed to the growing demand for smart wearable technology based devices. They are used in various applications in areas such as fitness wearable, access control, and medical based wearable among others.
Presently, the simple wearable devices have transformed into more sophisticated and multifunctional devices. The usage of multiple wearable sensors embedded into a single wearable device has increased, on an average of one wearable sensor to four wearable sensors per device.
Moreover, players such as Google, Microsoft, and Nike are entering the wearable device market with sophisticated wearable gadgets, which is further fueling the growth of the wearable sensors market. Moreover, demand for fitness and health monitoring wearable gadget are on the rise.
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These wearable fitness and health monitoring devices include various wearable sensors such as motion, pressure, and pulse sensors. These wearable devices are capable of monitoring heart rates, calculating burnt calories, and measuring blood pressure, among others. Moreover, increasing consumer’s concern related to their health, fitness, and wellness; is further driving the growth of the wearable fitness and healthcare devices, which in turn is leading to the growth of the wearable sensors market.
In addition, decrease in price of raw materials used for manufacturing wearable sensors has led to decrease in cost of production of wearable sensors, further driving the market growth.
In addition, advancements in manufacturing techniques have facilitated mass production of wearable sensors by economy of scale. As a result, the market for wearable sensors has been observing a significant growth.
The global wearable sensors market, by type, is categorized into medical based sensors, motion sensors, temperature sensors, pressure sensors, image sensors, position sensors, and others.
In 2013, wearable motion sensors segment dominated the global wearable sensors market in terms of revenue. Moreover, wearable motion sensors segment is expected to continue its dominance throughout the forecast period.
Increasing application of motion sensors in smart wearable devices such as shoes, fitness bands, and medical wearable devices for tracking physical activity and fitness is driving the growth of the segment.
During the forecast period, wearable image sensors segment is expected to witness the highest growth. Wearable image sensors are used in several applications in multiple industries such as infotainment and defense.
These wearable sensors are integrated in smart wearable devices which primarily includes smart watches, smart glass, and HMDs among others. The wearable image sensors market is expected to grow as a result of the increasing demand for intelligent smart devices.
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