Wearable Sensors Market accounted for USD 320.82 million and is projected to grow at a CAGR of 30.2% during the forecast period of 2020 to 2025. Wearable sensor helps in continuous physiological observation or monitoring with less manual intervention and low cost.
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These sensors help in collecting as well as delivering information about its respective surroundings and can also help in navigation. Now a days wearables sensor are integrated into different accessories such as wristwatches, hats, eyeglasses, smartphones, shoes, garments, headphones, wrist bands and others.
Major Market Competitors: Global Wearable Sensors Market
Some of the major players in global wearable sensor market are 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. among others.
Market Segmentation: Global Wearable Sensors Market
The global wearable sensor market is segmented based on type, technologies, application, end-users and geographical segments.
- Based on type, the global wearable sensor market is segmented into accelerometers, gyroscopes, temperature and humidity sensors, magnetometers, image sensors, pressure &force sensors, inertial sensors, touch sensors, medical based sensors, motion sensors, microphones and microspeakers and others.
- On the basis of technology, the global wearable sensor market is segmented into Cmos and Mems. Cmos are sub segmented into Very Large-Scale Integration Technology (VLSI) and Nanoelectromechanical System (NEMS).
- On the basis of application, the global wearable sensor market is segmented wrist wear, neckwear, eyewear, body wear, footwear and others. Wrist wear is sub segmented into wrist wearable bracelets and wrist wearable watches or bands. Neckwear is sub segmented into ornaments and jewelry, ties and collars.
- On the basis of end-users, the global wearable sensor market is segmented into healthcare, consumer and industrial.
Competitive Landscape: Global Wearable Sensors Market
The global wearable sensor market is consolidated due to the presence of limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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Major Market Drivers and Restraints:
- Rising ageing population
- Growing trend of IoT platform and smart living among end users
- Increase in inclination towards smaller, cheaper and smarter sensors
- Increasing number of connected devices
- High costs of wearable products
- Growing concerns with regards to privacy and security
- Lack of common standards and interoperability issue
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