Wearable Sensors Market Overview
Developments in wearable technology are creating favorable grounds for its application in the medical sector. Market reports connected with the healthcare industry have been offered by Market Research Future which makes reports on other industry verticals that aims to analyze the current market scenarios better. The market is anticipated to advance at a positive pace in the upcoming forecast period.The requirement for constant health monitoring has gained a favorable channel since the expansion of the wearable tech‘s application base. The integration of tracking biometrics is expected to motivate the wearable sensors market expansion in the coming period. The escalating level on focus on personal care and health consciousness is anticipated to influence the wearable sensors market in the forecast period positively.
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The thriving wearable sensors market is expected to register significant accruals throughout the forecast period. Factors predominantly supporting the growth of the market include the growing demand for smart and connected devices that have increased the market penetration of wearable devices making them a mainstream commodity in today’s tech landscape. Developments in the wearable technology have proven to be a block-building factor for the market growth of these sensors. Moreover, the integration of IoT with the evolving sensor technology is escalating the market on the global platform.The Wearable Sensors Market is rapidly stealing the spotlight with increased consciousness regarding health and personal care.
Segmentation
For enhanced understanding, the report has been segmented into four key dynamics.
By Types : Medical-based Sensors, Motion Sensors, Pressure Sensors, Image Sensors, Position Sensors, Inertial Sensors, and others.
By Applications : Smart Wristwear, Smart Glasses, Smart Bodywears, and Smart Footwear among other wearable devices.
By End-Users : Consumers, Healthcare, Enterprises, Industrial, and others.
By Regions : Asia Pacific, North America, Europe, and the Rest-of-the-World.
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Regional Analysis
The North American region with the presence of a number of key players is expected to retain its dominance over the global wearable sensors market. Factors such as the availability to develop advanced technologies alongside the presence of well-established infrastructure that allows a suitable environment for the development and early implementation of these advanced technologies increases the size of the market to an extent. Additionally, factors propelling the growth of the regional market include increasing governmental support for R&D activities and improved access to technology.
The wearable sensors market in the European region is emerging as a lucrative market, holding the second position, globally. Factors providing impetus to the market growth include the increased funding and the support for R&D activities from the public & private sectors and the resurging economy in the region that is playing a vital role in the increasing consumers purchasing power,
Germany with its flourishing wearable medical devices market accounts for the leading market for wearable sensors in the region, followed by the UK and France, respectively. The wearable sensors market in the UK is growing attributing to the high per capita income and robust healthcare penetration.
The Asia Pacific wearable sensors market is rapidly emerging as a profitable market, witnessing huge technological advancements and the high uptake of these advanced technologies. These advancements in technology and medical devices are some of the key driving forces behind the growth of the market in this region. The market in India, China, and Japan heading with the increasing number of developments in the connected medical devices and healthcare solution contribute to the growth of the regional market providers predominantly.
Furthermore, the higher adoption rate of wearable and connected medical devices, improving economy, and rising medical tourism in the region are some of the factors acting as a major tailwind pushing up the growth of the wearable sensors market in the APAC.
Global Wearable Sensors Market - Competitive Analysis
Highly competitive, the wearable sensors market appears to be fragmented owing to the presence of several large and small-scale players. These players invest substantially in R&D to develop advanced sensors. High potential growth opportunities that the market demonstrates are in turn, attracting several new entrants to the market, further intensifying the competition in the already fiercely competitive market.
Well-established players incorporate strategic initiatives such as acquisition, collaboration, expansion, partnership, and product & technology launch in order to gain a competitive advantage in this market and to maintain their market positions.
Prominent manufacturers of wearable sensors invest substantially in technology and R&D activities. R&D investments are utilized to innovate as well as to improve their existing product line. Most of all, they invest in acquiring other promising firms in the rapidly growing regions to meet their expansion plan. The rising government fundings are motivating key companies to manufacture new sensors that can match the changing trends and needs of the customers.
Major Players:
Key players leading the global wearable sensors market include Some of the eminent leaders of the market include Panasonic Corporation, Robert Bosch GmbH, InvenSense, Inc., Texas Instruments Incorporated, KIONIX, INC. (ROHM Co., Ltd.), STMicroelectronics, Analog Devices, Inc., ZOLL Medical Corporation (Asahi Kasei Corporation), Measurement Specialties, Inc., Infineon Technologies AG., and Freescale Semiconductor, Inc. among others.
Industry/ Innovation/ Related News:
February 19, 2019 –--- Shimmer (Ireland), a well-established wearable technologies services and sensor manufacturing company launched its next-generation wearable sensor platform Verisense that is designed to meet the end to end needs of clinical trial sponsors, sites and participants. This new technology was unveiled at the SCOPE Summit for Clinical Ops Executives, held in Orlando, FL.
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