12th Aug 2019 – The Global Wearable
Sensors Market was valued at USD 149.3 million in 2016 and is
anticipated to grow considerably in the forecast period due to the increasing
number of health and fitness monitoring applications. Wearable sensor is a
high-tech device worn by individuals for recording information related to
health and fitness. These technological sensors can be wired or wireless
devices and are incorporated in fashion accessories or clothes. They diagnose
and monitor the crucial body signals like blood pressure, heartbeat, and other
metabolic activities. The rise in adoption of the advanced monitoring systems
across globe is predicted to boost wearable sensors industry in near future.
The wearable sensors enable the
biological and psychological senses in the body. It basically identifies and
monitor the ongoing treatment for cardiovascular, neurological, and pulmonary
disorders like asthma, hypertension, etc. At present, motion sensors are
deployed at pharmacies in rural regions that lack the use of remote monitoring
systems.
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Subsequent rise in world population as
well as considerable ageing population is reinforcing the speedy growth of
healthcare costs. The healthcare system is undergoing a revolutionary change,
which enables monitoring of inhabitants without hospitalization. The
enhancement of sensing technologies, wireless communication technologies, nano
technologies, implanted systems, and miniaturization has empowered the
development of smart systems to continuously record the human activities.
The wearable sensors identify abnormal
and/or unexpected situations by recording psychological factors as well as
other indications. The major factors that drive the wearable sensors market are
rise in adoption of remote and home patient monitoring systems, developments in
sensor technology and increased use of wearable sensors for new borns.
Additionally, the growing use of smart electronic devices for consumers like
smartphones, tablets, and laptops has streamlined the recording and gathering
of information, since these devices can be easily paired. Moreover, the costly
wearable sensors, privacy issues, and data integrity are expected to restrict
the market growth. Nevertheless, the strict regulations regarding data storage
is predicted to increase the acceptance of wearable devices in the society.
The rising chronic sickness, elderly
population and higher penetration of smartphone technology are expected to
offer growth opportunities in the wearable sensors industry. The growing health
and fitness awareness, remote monitoring of patients, integrated with low costs
in digital health are expected to affect the Market significantly. The software
and technological upgradations like cloud networking has enabled development of
wearable sensors with minute user involvement in the device monitoring. This
simultaneously makes the procedure convenient, affordable and simpler to
manage. This is projected to widen the scope and expand wearable sensors market
in near future.
The wearable sensors industry can be
categorized on the basis of product type, application and geography. On the basis
of product type, the Market is divided as Image Sensor, Medical Based Sensor,
Motion Sensor, Position Sensor, Pressure Sensor, Temperature Sensor and
etc.(chemical, optical and stretch). On the basis of application, the industry
can be divided into Body Wear, Eye Wear, Foot Wear, Wrist Wear and etc.
(finger, head, neck wear).
Geographically, the wearable sensors
market can be divided into North America, Europe, Asia-Pacific and LAMEA. The
growing Research & Development in wearable sensors segment in terms of
improved technologies, and the increasing demand for better lifestyle are the
two essential factors that drive the Market in North America. Also, the growing
R&D capabilities are expanding the application areas of wearable sensors in
various industries like healthcare, consumer electronics and entertainment.
The prominent players in the wearable
sensors industry are Panasonic Corporation, Adidas AG, Google, Inc., Infineon
Technologies AG, Intel Inc., Analog Devices Inc., InvenSense Inc., STMicroelectronics,
ZOLL Medical Corporation (Asahi Kasei Corporation) and Texas Instruments
Incorporated.
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