The Global Wearable Sensor Market is projected to reach a value of over USD 30.05 billion by 2027 at a CAGR of around 50.4%.
With the growing expectation of being connected anywhere and anytime, wearable technology has evolved to be one of the largest growing industries. New opportunities such as Internet of Things (IoT) and smart mobile devices have accelerated the development of the wearables market. The growth of the mobile networks enabled the development of wearable technology. Moreover, fitness activity trackers created a major profitable impact on wearable technology. Hence the market of wearable sensors is started rising and major players are invested in R&D of wearable sensors. In today’s world, these sensors are growing at faster rate due to its wide range of applications. The major players in the wearable sensor market are TE Connectivity, Texas Instruments Incorporated, NXP Semiconductors, and STMicroelectronics among others.
Market Driver:
In past ten years, sports industry has grown very fast. Football, Baseball, Cricket, and Basketball changes the sports industry and increases the level of competition in the market. Hence to sustain in the industry athlete and coaches are increasingly use smart wearables to track athlete performance both during athlete selection and training. This will help coaches and selectors to reduce guess work and support their decision making using real data. This will help to any team to predict the outcomes and minimizes the risk. Zephyr launched wearable platform which consists of a compression shirt that can hoist a GPS and a bio-module. This bio-module directly measures heart rate, breathing rate, heart rate variability, posture and impact. Hence, athlete performance monitoring increases the demand of wearable devices with directly increases the demand of wearable sensor market during forecast period.
Market Challenges:
Wearable tech is a relative newcomer to the technology landscape. The popular wearable devices such as smart glass and smart watches. Most personal wearables are working on fitness or health, and often have connectivity with a mobile application. But new gadgets and categories are emerging, and there is no set definition for wearable technology. In some cases, this can be problematic for CIOs and IT departments, especially when it comes to defining workplace policies for wearables devices and technologies. Wearable devices are subpart of smart gadgets which faces some development challenges such as energy inefficiency in color display, poor Internet connectivity, low battery life, lack of waterproofing standards, and security concerns will have expected to become a challenge for wearable sensors market during projected years.
The report on the wearable sensor market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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Report Features |
Specifics |
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Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
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Base Year for Market Calculation |
2020 |
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Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
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Measured Units |
Value (USD Million) |
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Segments Included |
Type, Application, End Use Industry, and Region |
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Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Wearable Sensor Market, by Type
Wearable Sensor Market, by Application
Wearable Sensor Market, by End Use Industry
Wearable Sensor Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE WEARABLE SENSOR MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY
