Health consciousness for fitness
and advancement in technologies to make North America a global leader in
Wearable Sensor Market
North America is leading the
global Wearable
Sensors Market and is expected to maintain its leading position during the
forecast period. Adoption of innovative technologies and raising awareness for
health and fitness in this region is expected to make North America a global
leader in wearable sensors market. The favorable Food and Drug Administration
(FDA) approval in sensor technologies makes wearable sensors market industry
lucrative in North America. Europe is the second largest region for wearable
sensors market. Europe is expected to lead wearable sensors market in near
future, owing to high demand for wearable devices.
Wearable sensors are the devices
that collect information about biological and physical properties of body and
environment by the sensors present in wearable devices. This information is
utilized further to measure the output information of body. Sensors are
implemented in wearable devices to track environmental activities, such as
temperature and weather information and to track fitness and health activities,
such as body temperature, heart rate, stress level, heart pressure, blood
pressure, movements, speed, and local temperature. Wearable sensors are used in
devices, such as a smart-watch, smart shoes, body-wear, fitness watch, glasses,
virtual reality headsets, sleep masks, and jewelry.
Technological advancement in
sensing devices and introduction of key players into the market is expected to
boost the growth of Wearable Sensors Market
The sensors device processes
according to the surrounding environment and it is implemented on the wearable
device to monitor body activities, which include, heart rate, body temperature,
and blood pressure. Wearable sensors market is expected to show a significant
growth over the forecast period, owing to the demand for wearable sensor
devices in various applications such as healthcare, lifestyle, fitness, and
security.
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Moreover, recent advancements in
telecommunication, data analysis, sensor manufacturing, and microelectronics
are providing opportunities for adoption of wearable sensors in the digital health
environment. Additionally, in the healthcare industry, wearable sensors are
used for monitoring patient’s conditions. These devices are also used in
sports, military, and entertainment. For instance, Apple watch is a wearable
device, which includes microphone, accelerometer, and a pulse sensor. Wearable
sensors are integrated into garments, watches, eye-glasses, and smartphones,
which is fueling the growth of the wearable sensor market.
Decreasing cost, attractive
accessories, and integration with consumer electronic devices are the key
factors for boosting the growth of global wearable device market. Additionally,
introduction of key players in market such as Google, Amazon, Facebook, Apple,
Microsoft, smartphone penetration in sensor technology, the high occurrence of
chronic disease related to blood pressure and heart rate, geriatric population
with cardiac and neurological disorders, fitness awareness, and reduced digital
health-cost are anticipated to significantly drive the growth of global
wearable sensors market.
Strong competition between
manufacturers and safety concerns restrict the market growth
However, low consumer awareness
and safety concerns for security data is a major restraint for growth of
wearable sensor market. Moreover, lack of clarity for health communication
protocol using wearable device and interoperability issues is expected to
hinder the growth of market. Due to low-cost alternatives, intense competition
is faced by key manufacturers, which is another factor hindering the growth of
global wearable sensors market growth.
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Geographically, the wearable
sensor market is segmented into North America, Europe, Asia Pacific, Middle East,
Africa, and Latin America.
Asia Pacific region is
anticipated to lead global market during the forecast period. Favorable
reimbursement policies and advanced low-cost sensor systems are fueling the
growth of wearable sensor market in Asia Pacific region.
Strategies of merger-acquisition
by key players to expand the market growth
The major key players operating
global wearable sensor market include Google, Panasonic Corporation, Freescale
Semiconductor, Fossil Groups, InvenSense, Facebook, Amazon, Apple, Microsoft,
Infineon Technologies AG, ST Microelectronics, and Analog Devices, Inc. These
players are focused on developing business through strategies of
merging-acquisition and product development to enhance the global growth. For
instance, Facebook acquired Basis Science in March 2015, which specializes
wearable sensor technology in wrist-watches. Moreover, Fossil Groups acquired
Misfit in November 2015, to enhance their growth in global market.
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