Wearable Sensors Market

2021-2030 Analysis and Review Wearable Sensors Market

Wearable Sensors Market

Wearable Sensors Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021 – 2030

15-04-2022 REP-HC-139343 115 pages Format

Global wearable sensors market is estimated to grow at a CAGR of 33.1% during forecast period (2022-2030). The market is expecting massive rise in the demand due to advancement in healthcare industries and the miniaturization of sensors. Further, the increasing adoption of Internet of Things (IoT) and augmented reality is the major factor triggering the wearable sensors market growth. IoT has a huge impact on various industry verticals such as manufacturing, healthcare, consumer goods and services etc. and wearable sensors market is growing due to adoption of IoT for more personalized experiences. The wearable devices such as fitness band, health tracker and IoT-driven monitoring devices help in tracking daily activities. 

Wearable Sensors Market

Healthcare Remains as the Most Dominating Application Segment in terms of Market Revenues

Global wearable sensors market has been segmented on the basis of type, application and vertical. The vertical segment is further segmented into consumer goods, healthcare and industrial. Healthcare segment is the dominating segment with a revenue share of 37.65% in 2021. Moreover, healthcare wearable sensor market is anticipated to grow at a highest CAGR of 34 % during the forecast period. Due to the ability of the wearable devices to track a person’s physical activity, biological signals such as heart rate, blood pressure etc. and versatility, portability offered by wearable devices, they have received a wide adoption in the healthcare. Furthermore, these devices have potential application in remote healthcare monitoring which is expected to give a foster growth opportunity in the healthcare wearable sensor market. 

North America to Dominate in terms of Revenues and APAC in terms of Growth

Geographically, the global wearable sensors market has been segmented into North America, Europe, Asia Pacific and Rest of the World (ROW). North America is dominating market in global wearable sensors market with a revenue share of 37.75% in 2021. North America wearable sensor market is primarily driven by high disposable income per capita in US and Canada, high investment to the wearable tech startups coupled with rising adoption of wearable devices. Further, the presence of pool of companies such as Texas Instruments (US), Analog device Inc. (US), Knowles Electronics Llc (U.S.), Broadcom (US) that have captured a large share in global wearable sensor market that influences the growth of North America wearable sensor market. Moreover, Asia Pacific is anticipated to be the fastest growing region during the forecast period with a CAGR of 34.5%. Further, high investment in the company’s manufacturing wearable devices is also sorting to be the major driver for the growth of wearable sensor market in Asia Pacific. 

Product Launch is The Most Adopted Strategy Among the Top Market Players

Product launch is the primary strategy adopted by the companies in the wearable sensor market. New and advanced products enable to enhance the company's visibility while competing effectively with the key competitors already present in the market. Partnership and collaboration remain as the secondary strategy adopted by the companies in the wearable sensor market. The intensity of competitive rivalry in wearable sensor market is expected to move from moderate to high over the forecast period 2022-2030. Technology advancement, increasing awareness of health and fitness, increasing usage of smart devices, and adoption of IOT (Internet of things) are some the factors fueling the wearable device market. 

Historical & Forecast Period

This research report presents the analysis of each segment from 2020 to 2030 considering 2021 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment are calculated for the forecast period from 2021 to 2030.

Report Methodology

Market revenues and CAGR were derived from primary and secondary research. Both quantitative and qualitative trends were considered for extrapolation of market revenues. The derived market estimates were further validated from top down, bottom strategies and primary research. The scope of the market is limited to the following segments of product categories and region. 

By Type (2020-2030; US$ Mn)

  • Accelerometers
  • Gyroscopes
  • Image sensors
  • Inertial sensors
  • Magnetometers
  • Medical based sensors
  • Microphones and micro speakers
  • Motion sensors
  • Pressure and force sensors
  • Temperature and humidity sensors
  • Touch sensors

By Application (2020-2030; US$ Mn)

  • Eyewear
  • Body wear
  • Footwear
  • Neckwear
  • Wrist wear
  • Vertical adopting wearable sensors include:
  • Consumer goods
  • Healthcare
  • Industrial

By Region (2020-2030; US$ Mn)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Africa

Global Impact of Covid-19 Segment (2020-2021; US$ Mn)

  • Pre Covid-19 situation
  • Post Covid-19 situation 

Key questions answered in this report

  • What are the key market segments in current scenario and in the future by product categories?
  • What are the key market segments in current scenario and in the future by regions?
  • What is the key impact of Covid-19 over market revenues and market determinants in the global UAV drone market?
  • What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
  • What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
  • How to overcome the current market challenges and leverage the opportunities in each of the market segment?
  • Who are the key players in the operational predictive maintenance market and what are their key product categories and strategies?
  • What are the key strategies – mergers/acquisitions/R&D/strategic partnerships etc. that companies are deploying to enhance market revenues and growth.

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