Luton, Bedfordshire, United Kingdom, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Body Area Network Market.
Body Area Network Market size was appreciated at USD 10.32 billion in 2022 and is predictable to reach USD 23.93 billion by 2029, upward at a CAGR of 9.8% from 2023 to 2029.
The whole human body's system is monitored and detected by a network called a body area network. It makes use of a low power wireless gadget that may be worn externally or implanted within the body. It is frequently utilised for personal safety, tailored medication, health & wellness monitoring, and sports training.
A network known as a body area network keeps track of and detects activity throughout the whole human body. It uses a low-power wireless device that may either be implanted within the body or worn outside. It is commonly used for self-defence, individualised medicine, health & wellness monitoring, and athletic training.
The increased use of smart devices for tracking physical fitness, rapid advancements in medical devices & communication technologies, surge in government support, and increase in sales of smartwatches and smart bands are all expected to contribute to the growth of the global body area network market share. The development of the global body area network sector is constrained, nonetheless, by worries about security and privacy. On the other hand, the body area network market is anticipated to benefit from strong demand from Asia-Pacific.
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Recent Developments
- Samsung Electronics Corporation of South Korea launched Galaxy Watch Active, Galaxy Fit and Galaxy Buds in February 2019. These 3 new products are anticipated to expand the market reach of the company in body area network technology devices and devices.
- Likewise, Fitbit launched 4 new products in its body area network devices domain in March 2019. These products namely – Fitbit Versa Lite Edition, Fitbit Inspire, and Fitbit Ace 2 will be added to the company profile making it more popular among the masses.
- The Garmin Co. added 4 new watches in its Forerunner series in April 2019. It includes the models 45, 45S, 245, 245 Music and 945.
| Report Metric | Details |
| Market Size Availability for Years | 2022-2029 |
| Base Year | 2022 |
| Forecast Period | 2023-2029 |
| Forecast Units | Value (USD) |
| Segments Covered | By Device Type, Components, Application |
| Geographies Covered | North America, Europe, APAC, and RoW |
| Companies Covered | Apple (US), Fitbit (US), Samsung (South Korea), Garmin (US), and Fossil (US) 20 players are covered. |
Body Area Network Market Players
The major players covered in the body area network market report are FUJITSU, GENERAL ELECTRIC COMPANY, IBM, Intel Corporation, SAMSUNG, Sony Corporation, STMicroelectronics, Apple Inc., Fitbit, Inc., Medtronic, Abbott, Bluetooth SIG, Inc., Telefonaktiebolaget LM Ericsson, TIME USA, LLC., Renesas Electronics Corporation., Garmin Ltd., Zepp Health Corporation., ASUSTeK Computer Inc., Withings and SUUNTO among other domestic and global players.
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Key Market Segments: Body Area Network Market
Body Area Network Market by Device Type, 2023-2029
- Implantable Devices
- Wearable Devices
Body Area Network Market by Component, 2023-2029
- Displays
- Application Processors
- Memory
- Electro Mechanicals
- Interfaces
- Sensors
Body Area Network Market by Connectivity, 2023-2029
- Bluetooth
- Wi-Fi
- Zigbee
Body Area Network Market by End User, 2023-2029
- Healthcare
- Sport
- Fitness
Top Impacting Factors
The rise in consumer health consciousness and the expansion of AI use in the healthcare sector are two important factors influencing the growth of the body area network market. Additionally, the development of IoT and the incorporation of wireless technologies fuel the market for body area networks. But the high initial cost of wearable fitness equipment limits market expansion. On the other hand, it is anticipated that increasing market prospects would result from investments in linked ecosystem development.
Sales Analysis of Body Area Network System
The usage of body area network devices for precisely assessing physical fitness is becoming more widely known, which has improved its adaptability for the benefit of the worldwide market. Sales of such WBAN sensors have recently surged due to the healthcare industry's acceptance of the data from these items as first-hand information.
Private hospitals and government agencies are taking steps to digitise the health care industry, creating enormous opportunity for market participants in the medical body area network devices space to grow. Several body area network apps have become effective tools for tracking the health parameters of patients present at any location thanks to the integration of contemporary data transport technology.
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 analysed from 2023 to 2029 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.
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