Richmond, Dec. 11, 2023 (GLOBE NEWSWIRE) -- According to a research report "Wearable Sensors Market”, By Type (Inertial Sensors, Motion Sensors, Pressure and Force Sensors, Temperature and Humidity Sensors, Microphones & Micro Speakers, Medical- Based Sensors, Image Sensors, Touch Sensors, Others Types), Applications (Health and Wellness, Safety Monitoring, Sports and Fitness, Other Applications), End-use Industry (Consumer, Healthcare, Industrial, Others) and Region - Global Forecast to 2030.
Global Wearable Sensors Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 1.7 Billion |
| Market size value in 2030 | USD 5.2 Billion |
| CAGR (2023-2030) | 17.6% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Type, Applications, End-use Industry and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Wearable Sensors Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The wearable sensor market is witnessing dynamic growth driven by increasing health consciousness, a demand for personalized wellness solutions, and technological advancements. Wearable sensors, ranging from motion and health sensors to environmental and position sensors, are becoming integral components of devices like smartwatches, fitness bands, and smart clothing. North America, particularly the U.S., continues to dominate the market, buoyed by rapid digital technology adoption and a thriving healthcare sector. The trend towards multimodal sensing and fusion, combining various sensor types for a holistic user experience, is gaining momentum, enhancing the accuracy and versatility of data capture. Meanwhile, China emerges as a leader in chip miniaturization, contributing to advancements in wearable sensor technology. The market's evolution reflects a global landscape shaped by the convergence of consumer health awareness, technological innovation, and the pursuit of more sophisticated and integrated monitoring solutions across diverse applications.
Major Vendors in the Global Wearable Sensors Market:
- STMicroelectronics NV
- Texas Instruments Incorporated
- Infineon Technologies AG
- Analog Devices Inc.
- InvenSense Inc. (TDK Corporation)
- AMS OSRAM AG
- Panasonic Corporation
- NXP Semiconductors NV
- TE Connectivity Ltd
- Bosch Sensortec GmbH (Robert Bosch GmbH)
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Increasing Health Consciousness and Demand for Personalized Wellness Solutions
The increasing trend of health consciousness and a growing demand for personalized wellness solutions are driving the wearable sensor market. As individuals become more aware of the importance of health and fitness, there is a heightened interest in technologies that enable continuous monitoring and personalized feedback. Wearable sensors, such as those tracking heart rate, physical activity, sleep patterns, and other health metrics, provide users with real-time data, fostering a proactive approach to health management. The desire for personalized wellness solutions aligns with the evolving consumer expectations for tailored and data-driven insights, empowering users to make informed decisions about their lifestyle choices, exercise routines, and overall well-being. This trend not only fuels the adoption of wearable sensors in mainstream consumer electronics like smartwatches and fitness bands but also drives innovation in healthcare applications, contributing to the market's sustained growth.
Market Dynamics
Drivers:
- Growing Integration with Smartphones and Smart Devices
- Rising Adoption of Wearable Devices in Sports and Fitness Applications.
Opportunities:
- Expanded Applications in Sports and Fitness
- Integration with Workplace Safety and Productivity Tools
- Immersive Entertainment and Augmented Reality Experiences.
Multimodal Sensing and Fusion
The emerging trend in the wearable sensors market revolves around multimodal sensing and fusion, reflecting a shift towards integrating multiple sensor types for a comprehensive user experience. Wearable devices are increasingly incorporating a combination of sensors such as accelerometers, gyroscopes, heart rate monitors, and environmental sensors. This multimodal approach enables a more holistic capture of user data, allowing for a nuanced understanding of activities, health metrics, and the surrounding environment. The fusion of data from various sensors enhances the accuracy and reliability of information, providing users with a more detailed and context-aware analysis of their health and lifestyle. This trend not only addresses the demand for sophisticated and versatile wearable devices but also opens up opportunities for applications in healthcare, fitness, and beyond, as the synergistic combination of different sensor modalities contributes to a richer and more meaningful user experience.
North America dominates the market for Wearable Sensors Market.
The North American region is poised to maintain its leadership in the wearable sensor market throughout the forecast period. The rapid integration of digital technology in the United States has positioned the region as a major contributor to the market's expansion China has long been a prominent player in the chip industry, and its current emergence as a leader in chip miniaturization underscores the nation's commitment to technological advancement. A key catalyst for chip miniaturization in China is the development of cutting-edge manufacturing techniques, notably nanotechnology, which facilitates the production of smaller yet more efficient chips.
Japan is poised for notable growth in the wearable sensors market, driven by a surge in digitization. The country has experienced a digital transformation spurred by government initiatives promoting the adoption of digital technologies, an expanding population of digital-native consumers, and a pressing need to enhance productivity and efficiency across diverse industries. This confluence of factors positions Japan as a significant player in the evolving landscape of wearable sensor technologies.
Sports and Fitness Segments is anticipated to hold the Largest Market Share during the Forecast Period
Based on the Application segment categorized into Health and Wellness, Safety Monitoring, Sports and Fitness ans Other Applications. Sports and Fitness has major share in the Wearable Sensors Market. The global shipment of wearable sensors is experiencing a notable upswing, primarily fueled by the rising demand for wellness monitors and fitness trackers. Consumers are increasingly recognizing the valuable features offered by sensor-based devices, particularly in remote monitoring of health and fitness. According to Cisco Systems, North America led in 5G connections made using wearable devices in 2022, with wearables in North America and Asia collectively contributing to approximately 70% of global wearable 5G connections. Notably, wearable performance devices are now widely accessible to both the general population and athletic teams, allowing for the monitoring of functional movements, workloads, and biometric markers to enhance overall performance. The technological advancements in this field are not only fostering growth but also reshaping decision-making processes for coaches, influencing how sports are played, and significantly impacting the performance, health, and safety of professional sports players. Moreover, innovations from companies like Zephyr Technology, Viperpod, Smartlife, miCoach, and Catapult are extending beyond professional sports into the broader consumer market.
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