The Global wearable sensors market is expected to increase to $299.46 million by 2018 at a CAGR of 45.08% over the period 2014-2020. Wearable sensors are embedded in wearable devices to monitor bodily activities which include blood pressure, body temperature and heart rate, which is driving the healthcare industry as it enables remote data access.
The market is driven due to the rising awareness of health and fitness, where wearable sensors play a vital role. The falling price of the components used to manufacture the wearable sensors is making the wearable devices affordable. Increasing demand across various application sectors such as wearable technology for fitness, healthcare and security is driving the wearable sensors market to grow lucratively.
The rising market of smartphones and tablets is enabling the integration of wearable devices with the smartphones. Wrist wear segment holds the majority of the market share and is anticipated to dominate the market during the forecast period. The introduction of smart watches from companies like Samsung, Sony and Nike among others has given a boost to this market. North America has the highest penetration for wearable sensors as they are the early adapters of newer technology. Asia Pacific region is expected to show the highest growth rate due to the presence of developing countries like India and China. Motion sensor held the second highest market size accounting to $18.08 million in 2014 and is expected to remain the second highest market during the forecast period. Demand for motion sensor is attributed to their wide range of applications in smart watches, biometric wearable, smart glass, fitness band, and consumer durables.
The Global Wearable Sensors Market is segmented on the basis of Type (Motion, Inertial, Temperature, Pressure, Image, and Others), Industry (Healthcare, Consumer Applications, Sports/Fitness, Industrial, Entertainment & Media, and Others), & Geography (North America, Europe, Asia Pacific, Latin America, & Middle East & Africa).
This report describes a detailed study of the Porter's five forces analysis of the market. All the five major factors in these markets have been quantified using the internal key parameters governing each of them. It also covers the market landscape of these players which includes the key growth strategies and competition analysis.
The report also considers key trends that will impact the industry and profiles over 10 leading suppliers of Wearable Sensors Market. Some of the top companies mentioned in the report are Infineon Technologies AG (Germany), Freescale Semiconductor Inc. (U.S.), and Maxim Integrated Products Inc. (U.S.), Analog Devices Inc. (U.S.), Panasonic Corporation (Japan), Samsung (South Korea) and among others.