Wearable Sensor Market Size, Share, Growth Report 2030

Wearable Sensor Market

Wearable Sensor Market By Type (Accelerometers, Magnetometers, Inertial Sensors, Gyroscopes, Motion Sensors, Pressure & Force Sensors, Temperature & Humidity Sensors, Medical-Based Sensors, Image Sensors, Touch Sensors And Others) By Application (Wrist Wear, Eye Wear, Neck Wear, Foot Wear, Body Wear And Others) By Technology (MEMS, CMOS And Others) By Vertical (Healthcare, Consumer Goods, Industrial And Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Category: Semiconductor & Electronics Report Format : PDF Pages: 110 Report Code: ZMR-905 Published Date: Apr-2021 Status : Published

The global wearable sensor market accounted for USD 617.6 Million in 2020 and is expected to reach USD 2,902.1 Million by 2028, growing at a CAGR of 20.7% from 2021 to 2028.

Market Overview

The global wearable sensor market accounted for USD 617.6 Million in 2020 and is expected to reach USD 2,902.1 Million by 2028, growing at a CAGR of 20.7% from 2021 to 2028.

Wearable sensors are devices which are designed to maintain health by monitoring it continuously. It tracks all the physical activities and behavioral changes in humans. There are various types of wearable sensors such as accelerometers, magnetometers, inertial sensors, gyroscopes, motion sensors, pressure & force sensors, temperature & humidity sensors, medical-based sensors, image sensors, touch sensors, among others. The growing health and fitness awareness among the consumers is one of the primary reasons for augmenting the growth of the market. The emerging trends such as evolution of 5G technology in smart devices and increasing in the number of connected devices worldwide along with smart living has fueled the market.

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COVID-19 Impact Analysis

The COVID-19 outbreak resulted in facing many challenges by almost every industry and disrupted the supply chain and value chain of numerous industries. The rise in the COVID cases is driving the healthcare segment to adopt new technologies and devices so as to track and measure the various health parameters such as oxygen levels, temperatures, and heart rates among others. This has boosted the demand of wearable devices over the forecast period.

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Growth Factors

The rising demand of various wearable devices in healthcare for remote patient monitoring purpose and tracking all the vitals continuously is anticipated to augment the market in the forecast period. These devices can be connected to tablets and mobile phones which easily helps in gathering and collecting the data of the patients in real time. At the same these devices are very easy to mount on patient’s body. As a result, the demand for wearable sensors for efficient supervision of patients at hospitals and homes have increased.

The advancements in technologies for manufacturing sensors and other components needed for making these smart devices and the devices being very compact and portable has gained popularity among consumers. Hence companies are focusing more on integrating these devices with the trending technologies such as Big Data, ML, and IoT among others and providing more privacy for the data. This in turn is stimulating the growth of the market.

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Type Segment Analysis Preview

Accelerometer segment held a share of around 28.41% in 2020. The accelerometer sensors are used to capture the motion data which estimates the location of the device on the human body. The ability of these sensors to provide the data with high accuracy and correctness has increased the demand for wearable devices market.  The type segment of wearable sensors market also comprises of magnetometers, inertial sensors, gyroscopes, motion sensors, pressure & force sensors, temperature & humidity sensors, medical-based sensors, image sensors, touch sensors and others.

Vertical Segment Analysis Preview

Healthcare segment will grow at a CAGR of over 24.41% from 2021 to 2028. The healthcare segment is predicted to hold the largest share in 2020 followed by consumer goods segment among others. An increase in the number of patients due to the pandemic and reduction in availability of hospital facilities has resulted in demand for use of wearable devices as they are capable of monitoring the patients remotely. The demand for these wearables by consumers for personal wellness and fitness has also increased the market growth.

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Regional Analysis Preview

The North America region dominates the wearable sensor market and is held a share of 30.47% in 2020. This is due to the development of new technologies and more wearable products which are coming in the market. Along with that, the healthcare and consumer goods sector have been a major factor to augment the growth of market in the North America region.

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The Asia Pacific region is projected to grow at a CAGR of 28.14% over the forecast period. This is attributed to rapid use of automation and advance technologies in developing countries, such as China and India. The growing awareness of the benefits of wristwear, eyewear, bodywear and other devices in these economies is also increasing the demand of the market. Additionally, adoption of Internet of Things (IoT), ML and Big Data technologies in various industries is expected to open new avenues for the wearable sensor market over the coming years.

Key Market Players & Competitive Landscape

Some of key players in wearable sensor market are Robert Bosch GmbH, Stmicroelectronics, Infineon Technologies AG, NXP Semiconductors, TE Connectivity Ltd., Asahi Kasei Corporation, Broadcom Limited (Avago), mCube, Inc., Knowles Electronics, LLC., Panasonic Corporation, Invensense, Inc., Texas Instruments Inc, ARM Holdings PLC, Sensirion AG, Analog Devices, Inc., Freescale Semiconductor, Inc., among others.

The global wearable sensor market is segmented as follows:

By Type

  • Accelerometers
  • Magnetometers
  • Inertial Sensors
  • Gyroscopes
  • Motion Sensors
  • Pressure & Force Sensors
  • Temperature & Humidity Sensors
  • Medical-based Sensors
  • Image Sensors
  • Touch Sensors
  • Others

By Application

  • Wristwear
  • Eyewear
  • Footwear
  • Neckwear
  • Bodywear
  • Others

By Technology

  • MEMS
  • CMOS
  • Others

By Vertical

  • Healthcare
  • Consumer Goods
  • Industrial
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

Free Analysis

FrequentlyAsked Questions

The global wearable sensors market was valued at USD 617.6 Million in 2020.

The global wearable sensors market is expected to reach USD 2,902.1 Million by 2028, growing at a CAGR of 20.7% between 2021 to 2028.

 

Some of the key factors driving the global wearable sensors market growth are increasing number of smartphone users, rising demand for technologically advanced devices and increasing fitness awareness.

North America region held a substantial share of the wearable sensors market in 2020. This is due to the development of new technologies and more wearable products which are coming in the market. Asia Pacific region is projected to grow at a significant rate owing to the rising demand for wearable devices in developing economies such as China and India.

Some of the major companies operating in the wearable sensors market are Robert Bosch GmbH, Stmicroelectronics, Infineon Technologies AG, NXP Semiconductors, TE Connectivity Ltd., Asahi Kasei Corporation, Broadcom Limited (Avago), mCube, Inc., Knowles Electronics, LLC., Panasonic Corporation, and Invensense, Inc., among others.

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