Global Wearable Sensors Market To Become A $299.46 Million Market By 2018

The Global wearable sensors market is expected to reach a $299.46 million mark by the end of 2018, growing at a CAGR of 45.08% over the forecasted period 2014-2020. Talking about wearable sensors, these are usually embedded in the wearable devices so as to enable the device’s capability to monitor bodily activities of the user and record related data such as blood pressure, body temperature and heart rate. This capability is in fact driving the healthcare industry to a great extent, as it enables remote data access and tracking.

This particular market is driven largely by the rising awareness among the health and fitness conscious crowd, where wearable sensors play a very crucial role. The falling prices of these components that are used to manufacture the wearable sensors, is making these wearable devices relatively affordable for the consumers. There has always been an increasing demand for wearable technology among various application sectors such as fitness, healthcare and security, which is expected to push the wearable sensors market towards occupying a major share in the end-user market.

The other factors influencing the growth of this particular market is the rising market for smartphones and tablets. Many consumer electronics today have an inbuilt sensor to perform multiple functionalities and enhance its existing operational capabilities.

Among the wearable consumer electronics, wrist wear segment in fact holds the majority of the market share and is anticipated to dominate the market during the forecast period. The introduction of smart watches from companies like Samsung, Sony and Nike among others has also given a boost to this market in particular.

It has been noted that North American region has the highest penetration for wearable sensors currently, as they always have been the early adopters of newer technology. Asia Pacific region on the other hand is also expected to show the highest growth rate due to the presence of developing countries like India and China.

Among the multiple types of sensor, motion sensor holds the second highest market size accounting to almost $15.68 million in 2014. This number is expected to remain the second highest in the market during the forecast period. The demand for motion sensor is attributed to their wide range of applications in devices such as smart watches, biometric wearable, smart glass, fitness band, and other consumer electronic goods.

The Global Wearable Sensors Market in the report made by Mordor Intelligence has been explained under various segments on the basis of Type (Motion, Inertial, Temperature, Health, Pressure, Image, and Others), Industry (Healthcare, Consumer Applications, Sports/Fitness, Industrial, Entertainment & Media, and Others), & Geography (North America, Europe, Asia Pacific, Latin America, & Middle East & Africa).

The report also contains the major key trends in the market that will impact the industry and profiles over 10 leading suppliers of Wearable Sensors Market. Some of the top companies mentioned in the report are Infineon Technologies AG (Germany), Freescale semiconductor Inc. (U.S.), and Maxim Integrated Products Inc. (U.S.), Analog Devices Inc. (U.S.), Panasonic Corporation (Japan), Samsung (South Korea) among others.

SaiKiran Kadam is an Analyst working with Mordor Intelligence, a market research consulting firm which specializes in Market Research Consulting, Market Research Reports, Market Sizing Reports, Industry Research Reports.