The growth of this technology is propelled by the increasing advancement toward smaller, smarter, and cheaper sensors, miniaturization trend in sensors, rising share of aging population, and mounting benefits of wearable devices in the healthcare sector.
The market is further driven by advent of platforms such as IoT, AR, and M2M, growing interest of Tier I players in wearable ecosystem, and growing trend toward smart living among end users.
According to MarketsandMarkets’ forecast, the overall wearable sensors market was valued at USD 189.4 Million in 2015 and is expected to reach USD 1,654.0 Million by 2022, growing at a CAGR of 30.14% between 2016 and 2022.
This report covers the wearable sensors market based on type, application, vertical, and geography. In terms of type, pressure and force sensors are expected to hold a major market size during the forecast period. The growing usage of wearable devices such as smart watches and fitness bands is likely to drive the market for pressure and force sensors.
These devices have created awareness among people to be fit and healthy by continuous monitoring of their health. Also, smart watches have an advantage of tracking the user’s outdoor activities such as trekking, cycling, and fishing. Thus, pressure and force sensors are widely used in many sectors such as consumer electronics, medical, and healthcare for a variety of applications such as smart shoes and smart socks.
The market for the bodywear application is expected to grow at the highest rate between 2016 and 2022. Rapid changes in terms of manufacturing technology, innovation, and technical advancements in various industries are expected to drive the market for the bodywear application.
The major companies involved in the development of wearable sensors include NXP Semiconductors N.V. (Netherlands), STMicroelectronics N.V. (Switzerland), TE Connectivity Ltd. (U.S.), Broadcom Limited (U.S.).
The market is further driven by advent of platforms such as IoT, AR, and M2M, growing interest of Tier I players in wearable ecosystem, and growing trend toward smart living among end users.
According to MarketsandMarkets’ forecast, the overall wearable sensors market was valued at USD 189.4 Million in 2015 and is expected to reach USD 1,654.0 Million by 2022, growing at a CAGR of 30.14% between 2016 and 2022.
This report covers the wearable sensors market based on type, application, vertical, and geography. In terms of type, pressure and force sensors are expected to hold a major market size during the forecast period. The growing usage of wearable devices such as smart watches and fitness bands is likely to drive the market for pressure and force sensors.
These devices have created awareness among people to be fit and healthy by continuous monitoring of their health. Also, smart watches have an advantage of tracking the user’s outdoor activities such as trekking, cycling, and fishing. Thus, pressure and force sensors are widely used in many sectors such as consumer electronics, medical, and healthcare for a variety of applications such as smart shoes and smart socks.
The market for the bodywear application is expected to grow at the highest rate between 2016 and 2022. Rapid changes in terms of manufacturing technology, innovation, and technical advancements in various industries are expected to drive the market for the bodywear application.
The major companies involved in the development of wearable sensors include NXP Semiconductors N.V. (Netherlands), STMicroelectronics N.V. (Switzerland), TE Connectivity Ltd. (U.S.), Broadcom Limited (U.S.).
Iot products are future of world so it very important to get familiar with these products. Market of Iot sensors like wifi temperature sensor, wifi humidity sensor is increasing day by day.
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