Wearable Sensor Market: Overview
The wearable sensor products are gaining traction among health conscious and fitness oriented consumers. It enables to track various body vitals such as calories, heart rate, pulses, footsteps, and blood pressure using the sensors.
Further, technological advancement is likely to augment growth of global sensor market in coming years.
The upcoming report on wearable sensor market provides insights about various trend and drivers influencing growth of the market. The market intelligence report provides details about ongoing developments occurring in the market and how that will affect the market over the duration of forecast period (2019-2028). In addition, the report also covers various restraining factors, which may limit growth of the market in coming years.
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Wearable Sensor Market: Competitive Analysis
The market is moderately fragmented in nature due to presence of regional and international players in the market. These players are introducing variety of wearable device in the market as per the demand of consumers.
The players are consistently involved in research and development activities. As a result, they keep offering unique products. Thus, they keep maintaining wider competitive edge in the industry.
As per market analysts, recently, Robert Bosh GmbH accounted for significant share in the global market. The company provide end-to end portfolio of micro-electro-mechanical systems (MEMS)-based sensors and solutions.
The portfolio of motion sensors includes motion and gesture-based products. These products include, gyroscopes, accelerometers, and inertial measurement units
These sensors are uses low-power and provide flexible solution for motion sensing and data processing.
Some of the players operating in the global wearable sensor market are-
- Texas Instruments
- NXP Semiconductors N.V
- Robert Bosh GmbH
- Knowles Electronics
- STMicroelectronics N.V
Wearable Sensor Market: Key Trends
In recent years, significant change in the usage of internet has been observed. Approximately one-third of world population is involved in the use of internet and associate devices. For example, use of smart phones has increased by 25% across the globe.
Meanwhile, use of internet as well as smart phones has fuelled the adoption rate of wearable sensor devices. The global wearable sensor market has witnessed huge demand from wearable devices.
Integration of wearable device with smart phones enable gathering of data related to various health factors. These devices send information to mobile apps designed specifically for the purpose. Also, it helps in tracking live data with the help of cloud based services. It is facilitated by application of M2M and IoT.
Registering several benefits offered by wearable devices, the market is anticipated to gain momentum in coming years.
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Wearable Sensor Market: Regional Analysis
North America is likely to hold prominent share in the global wearable sensor market. The prominence is attributed to prevalence of healthcare infrastructure in the region. Also, it is the region is an early adopted of new technologies related to health. The wearable technology is witnessing demand from various end users including healthcare, security and fitness.
These factors are promising lucrative growth opportunities to wearable sensor market in the region.
The market is witnessing demand for wrist wear and body wear sensor devices. This will enable measurement of various health parameters at the time of physical activities.
Moreover, developments of new products and innovations introduced by US-based manufacturing companies are significantly contributing to regional market growth.
In the U.S., wearable device has already gained popularity among consumers and are gradually moving towards healthcare sector.
For example, researchers from Northwestern University have invented tiny wireless sensor, which appear like sticker. It enable medical professional to monitor vital body signs without application of any external wiring.
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