Market OverviewWearable technology specifies devices with components such as battery, connectivity, sensor, interface, and other material as well as algorithm. They are generally worn either on the body such as the on the neck, ear, eye, hand, wrist, foot or inside the clothing. Wearable devices streamline human computer interface through a small device worn on the body. Key devices in the category are activity trackers, smart glasses, smart clothing, smartwatches, augmented reality (AR) devices, gaming devices and wearable cameras.
Additionally, they offer wide range of services including hands-free operation, network communication, real-time data monitoring, and the logic calculations. Sensors are most vital component in the wearable technology; they help produce information about physical state. The sensors can quantity everything from surroundings including motion, orientation, sound, light, humidity, biometrics and temperature, such as heart rate and blood pressure.
Moreover, continued innovation in the sensor technologies is anticipated to expand wearable technology abilities even more. Therefore, the need for the sensors in wearable devices is considered as one of the key factors supporting the growth of the market.
Segment OverviewBased on technology, wrist devices such as smart watches are most prevalent amongst other applications. The innovations owing personalization is the major factor leading to the highest market share of wrist devices, especially in emerging markets due to the dominance in consumer products. Therefore, the demand for the smart watches drive growth of wearable sensors market.
The latest additions to wearable healthcare market is wearable imaging devices. Wearable sensors of imaging devices capture the brain activity of patient in the situations where the traditional methods cannot succeed. The devices help to identify the neuro-degenerative disorders in patients.
Regional OverviewNorth American is poised to occupy the largest share as region offers room to most prominent players and is in the position to adopt the technological advancements at the earliest. High adoption of the digital technology in the U.S. has intensified growth of the market in the region. Furthermore with the booming healthcare sector, the market is projected to flourish.
The European region occupies the second position and is expected to evolve at the significant pace in the coming future. With increasing technological advancements and purchasing power the region is expected to gain an impetus.
The Asia Pacific region is projected to grow at the fastest rate as strong economic growth has pervaded healthy purchasing power in the countries, which is further expected to encourage the rise of wearable sensors during the forecast period.
Competitor overview
The market is consolidated due to the existence of the limited number of players present in few countries. The major players have implemented various organic as well as inorganic growth approaches such as new product launches, mergers & acquisitions, expansions, joint ventures, agreements, partnerships, and others to support their position.
In April 2019: A team of investigators at the Binghamton University, The State University of New York (NY) have developed skin-inspired electronics to imitate to the skin, this allows high-performance, real-time and long-term, wound monitoring in the users.
Key Players
- TE Connectivity
- Panasonic Corporation
- Infineon Technologies AG
- ams AG
- Robert Bosch GmbH
- STMicroelectronics
- Analog Devices, Inc.
- Asahi Kasei Corporation
- Knowles Electronics, LLC.
- Broadcom
- NXP Semiconductors
- ARM Holdings PLC.
- Texas Instruments Inc.
- mCube
- Sensirion AG
- Invensense, Inc
Market Segmentation
By Type
- Accelerometers,
- Magnetometers,
- Gyroscopes,
- Image Sensors,
- Inertial Sensors,
- Temperature & Humidity Sensors,
- Pressure & Force Sensors,
- Touch Sensors
- Motion Sensors
By Application
- Wrist wear
- Eyewear
- Body wear
By Geography
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- Rest of LAMEA
