The global wearable health sensor market size is estimated to expand at a robust CAGR during the forecast period, 2021-2028. The growth of market is attributed due to increasing concern about the constant monitoring of health, inclination towards enhanced functional sensors in gadgets, and improvement of battery size and performance.
Nowadays these wearable healthcare sensors such as gyroscopes, accelerometers, and other motion sensors is estimated to be incorporated with the activity monitoring devices such as golf or tennis swing analysis tools, fitness devices, pedometer, and some sport kinetic applications.
With the wireless connectivity, enhanced applications and vast storage capabilities in smart- phone, wearable sensors are exploring new application to be incorporated with such as monitoring on a remote patients, where the patients motion data analysis can be directly transmitted to the physician reducing time, effort, and energy, thus increasing work efficiency.
Growing concern towards healthcare has created an opportunities for the smart health sensor technologies and monitoring devices segment, which is capable enough to provide feedback to the user about their health status alerting the person to be cautious, another reason for the escalation of wearable in the healthcare industry is availability of low cost MEMS technologies.
Furthermore, with the increasing urbanization, improved lifestyle, growing awareness about health and demand for consumer electronics is anticipated to stimulate the market.
Wearable Health Sensors Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for continuous monitoring in healthcare services is expected to augment the market during the forecast period.
- Rising investment in advanced functional sensors in wearable and smart gadgets is estimated to propel the market during projected period.
- Growing application of wearable health sensors incorporated into activity monitors is anticipated to spur the market in the coming years.
- R&D and technological advancement in AI and machine learning to adopt products offered to their system and operation in healthcare sector is estimated to create lucrative opportunities for the key players of the market.
- Expansion of internet of thing (IOT), and growing demand for applications such as fitness, consumer electronic and more is estimated to stimulate the market during the projected period.
- Stringent regulation related to data privacy and storage is anticipated to fuel the market during the forecast period.
- High cost of wearable sensors, data integrity and privacy concerns are some of the reason possess a challenge that can hamper the growth of the market in the coming years.
Scope of the Wearable Health Sensors Market
The report on the global wearable health sensor market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
|
Details
|
Report Title
|
Wearable Health Sensors Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
Base Year
|
2020
|
Historic Data
|
2018–2019
|
Forecast Period
|
2021–2028
|
Segmentation
|
Types (Pressure Sensors, Temperature Sensors, Position Sensors, and Others), End-users (Consumer electronics, Healthcare, Sport/Fitness, and Others)
|
Regional Scope
|
North America, Europe, Latin America, Asia Pacific, Middle East and Africa
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
Key Players Covered in the Report
|
Texas Instruments Incorporated; TE Connectivity; Analog Devices Inc; TDK Corporation; Maxim Integrated Products Inc.
|
Wearable Health Sensors Market segment insights
The temperature sensor segment is estimated to hold major share of the market
Based on types, the market is segregated into pressure sensors, temperature sensors, position sensors, and others. The temperature sensor segment is estimated to hold major share of the market in the coming years owing to the current scenarios of the COVID cases these sensor are integrated with the IOT which helps in speeding up the virus screening procedure, companies are investing in development of wearable devices with temperature sensors, allowing them to monitors the human body temperature and providing the healthcare workers information on a real time basis about the common symptoms of COVID-19, causing the process to be efficient and seamless.
The healthcare segment is expected to exhibit high CAGR
On the basis of end-users, the market is categorized into consumer electronics, healthcare, sport/fitness, and others. The healthcare segment is expected to exhibit high CAGR in the coming years due to emerging need of smart sensor within the segment as these sensors are available in miniaturized form so it can be incorporated with any devices, are more flexible, and provides information on a real time basis, along with the data collected from the device can be later used for diagnosis and analysis purpose, as it plays a vital role in healthcare analytics.
Europe is anticipated to dominate the market
In the terms of regions, the market is classified as North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Europe is anticipated to dominate the market during the projected period due to growing awareness regarding fitness and easy availability of applications that monitors fitness, along with the increasing geriatric population in Western Europe using wearable to track their well-being is yet another factor driving the segment.
Segments
Global wearable health sensors market has been segregated on the basis of
Types
- Pressure Sensors
- Temperature Sensors
- Position Sensors
- Others
End-users
- Consumer electronics
- Healthcare
- Sport/Fitness
- Others
Regions
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East and Africa
Key players
Competitive Landscape
Key players competing in the global wearable health sensors market include Texas Instruments Incorporated; TE Connectivity; Analog Devices Inc; TDK Corporation; Maxim Integrated Products Inc.
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance
In December 2019, researcher of Korea Advanced Institute of Science and Technology (KAIST) announced a 3D printed pressure sensors, the device uses a rigid microbump array integrated with liquid metal material which is used to create soft and flexible sensors.
In September 2020, Ams, a distributor of high performance sensors solutions announced the industry’s thinnest dedicated sensors for the measurement of blood oxygen saturation (SpO2) capable to remotely monitor this critical sign to small consumer products such as earbud, oximeter, patch, and more.
