Jersey City, New Jersey, Dec. 14, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Wearable Sensors Market” By Type (Accelerometer, Gyroscope, Optical, Force And Pressure), By Device (Smart Watch, Fitness Band, Smart Glasses), By Vertical (Consumer, Defense, Healthcare, Industrial), and By Geography. According to Verified Market Research, the Global Wearable Sensors Market size was valued at USD 660.89 Million in 2020 and is projected to reach USD 5,208.05 Million by 2028, growing at a CAGR of 29.3% from 2021 to 2028.
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202 - Pages
126 – Tables
37 – Figures
Global Wearable Sensors Market Overview
The electronic industry has grown significantly as a result of digitalization. As a result, the market for wearable technology devices, which are widely used for self-health monitoring applications, is booming. Increased spending on consumer electronics, increased urbanization, and improved lifestyles of the growing population have raised health and safety awareness among people, which is stimulating the growth of wearable devices. Also, the affordability and ergonomics provided by advances in miniaturized electronics, the proliferation of smartphones and connected devices, and the growing demand for low power, smaller, lighter sensors, and enhanced performance are some of the factors driving the growth of wearable devices such as Fitbit, ear wears, and smartwatches.
According to the Consumer Technology Association, smartwatch unit sales increased from 5 million in 2014 to 141 million in 2018. This expansion is primarily due to increased awareness of personal health. Furthermore, the number of wearable devices sold has increased significantly in recent years. This trend has aided in the increased use of sensors in these wearable devices. Furthermore, according to Cisco Systems, the growth in connected wearable devices from 325 million in 2016 to 593 million in 2018 holds a lot of promise, particularly in healthcare applications. With various industries investing heavily in IoT devices, and IoT sensor usage declining, a significant increase in demand for wearable devices across multiple sectors is expected.
Key Developments
- In April 2021, Panasonic Corporation announced the USD 7.1 billion acquisition of supply chain software firm Blue Yonder. The agreement will assist Panasonic is expanding its product portfolio, which includes hardware devices such as sensors, edge devices, wearable technology, and other gadgets. In addition, the two companies previously formed a joint venture in 2019.
- In January 2018, Infineon Technologies announced the release of a 3D image sensor chip based on Time-of-flight (ToF) technology. It enables the world’s smallest camera module for smartphone integration, with a footprint of less than 12 mm x 8 mm, which includes the receiving optics and VCSEL (Vertical-Cavity Surface-Emitting Laser) illumination.
Key Players
The major players in the market are TE Connectivity LTD., NXP Semiconductors N.V., STMicroelectronics N.V., Robert Bosch GmbH, Infineon Technologies AG, InvenSense, Inc., Knowles Electronics, LLC., Panasonic Corporation, Sensirion AG, Asahi Kasei Corporation, and Others.
Verified Market Research has segmented the Global Wearable Sensors Market On the basis of Type, Device, Vertical, and Geography.
- Wearable Sensors Market, By Type
- Accelerometer
- Gyroscope
- Optical
- Force & Pressure
- Others
- Wearable Sensors Market, By Device
- Smart Watch
- Fitness Band
- Smart Glasses
- Others
- Wearable Sensors Market, By Vertical
- Consumer
- Defense
- Healthcare
- Industrial
- Others
- Wearable Sensors Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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Top 7 3D Sensor Manufacturers bringing imaginations to life
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