Wearable sensors are integrated with various accessories to physiological monitoring and data collection. These sensors are used in smartphones, tablets, and smart watches for monitoring health conditions, blood pressure, and activities. Smart consumer electronic devices helps in conveniently sensing human metabolic activities.
Market players have launched smart shirts, smart eyewear, and smart rings, which are equipped with wearable sensors. Smart shirts and smart rings are in high demand in defense, healthcare, and others. In the defense sector, smart shirts are used by soldiers to monitor their health conditions on battlegrounds. In addition, ongoing advancements in technology and expansion in Internet of Things (IoT) network supplement the market growth. However, high cost of sensors and privacy concerns hamper the adoption of wearable sensors.
In 2016, the wrist wear segment has witnessed high adoption of wearable sensors due to increase in fitness concerns among the young population. The foot wear segment presents lucrative growth opportunities to the wearable sensors market, followed by the body wear segment.
The report analyzes the global wearable sensors market on the basis of product type, application, and geography. Based on product type, the market is segmented into motion sensor, medical-based sensor, image sensor, position sensor, pressure sensor, temperature, and others (chemical, optical, and stretch). Among all product types, motion sensor segment was the highest revenue contributor to the global market in 2015, accounting for $44 million. However, the image sensor segment is expected to garner $229 million by 2022, registering a CAGR of 54.5% from 2016 to 2022.
Based on application, the wearable sensor market is segmented into eye wear, wrist wear, body wear, footwear, and other wearable devices (finger, neck, and head wear). The body wear and eye wear segments are expected to grow at CAGRs of 55.0% and 54.6%, respectively, during the forecast period. However, the wrist wear segment was the highest revenue contributor to the global market in 2015, accounting for $57 million.
The market is analyzed based on four regions, which include North America, Europe, Asia-Pacific, and LAMEA. North America was the highest revenue contributor to the global market in 2015, accounting for $48 million. This region is expected to garner $864 million by 2022, registering a CAGR of 52.4% from 2016 to 2022. Moreover, North America is expected to maintain its dominance during the forecast period. Europe and Asia-Pacific regions are the second and third leading wearable sensor markets, respectively.
The major players profiled in the market are Panasonic Corporation, STMicroelectronics, Adidas, Texas Instruments Incorporated, Analog Devices, ZOLL Medical Corporation (Asahi Kasei Corporation), Infineon Technologies AG., InvenSense Inc., Intel Inc., and Google Inc.
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