Press release
The Global Wearable Sensors Market is expected to garner USD 1,943.68 million by 2024, According to Research Nester
Wearable sensors Market can be used in different sports and occasion. Wearable devices are gaining attention in research activities. Increasing adoption of different type of wearable devices in healthcare and fitness is one of the major driver of this market. With the miniaturization model and falling prices, more number of sensors are expected to be in use in the forecast period.
Global wearable sensors market is expected to register a notable CAGR over the forecast period. Moreover, the global wearable sensors market is estimated to reach USD 1,943.6 Million over the forecast period i.e. 2017-2024. The market is expected to expand on the back of increasing concerns among the population towards health and fitness.
The wrist wear segment by application is projected to witness a highest CAGR during the forecast period owing to growing popularity of wrist fitness bands and smart watches. Further, availability of numerous wrist wearable products in the market is also predicted to positively impacting the growth wrist wear segment. In terms of regional platform, North America region grasped the biggest market in overall wearable sensors market in 2016 aided by U.S. Further, this growth is attributed to the high rate adoption of innovative and advanced technology.
Increasing healthcare expenditure
Rise in healthcare expenditure coupled with swift advancement in healthcare device to provide better medical facilities is projected to be dynamic factor behind the rapid growth of wearable sensors market. In addition to this, growing usage of wearable sensors in various medical devices along with integration of new technologies like emergency cardiac arrest alarm and pre detection of diseases is expected to flourish the growth of wearable sensors market across the globe.
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Evolution of wearable devices
Currently, North-America and Europe region are the largest market occupying more than 60% market share in the global market. North-America is the leader in the global wearable sensor market and it is anticipated to maintain the dominance during the forecast period. Being a developed region, they encourage and adopt the new innovations and technologies. Moreover, rising concern towards health and fitness is another factor which is driving the market in North-America. European market captures the second place in the global wearable sensor market.
On the contrary, high cost of wearable sensors equipped devices and lack of awareness towards wearable healthcare devices are believed to restrain the growth of wearable sensor market across the globe.
The report titled “Wearable Sensors Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global wearable sensor market in terms of market segmentation by type, by application, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global wearable sensor market which includes company profiling of Robert Bosch GmbH, NXP semiconductors (Freescale Semiconductor, Inc.), Broadcom Limited, ST Microelectronics, Shimmer technologies, Infineon Technologies AG, Analog devices Inc., TE Connectivity Ltd., mCube, Inc.and Knowles Electronics. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global wearable sensor market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.
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Email: ajay.daniel@researchnester.com
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