Wearable Sensors Market Size, Trends, Outlook, Foresast and COVID-19 Impact by 2027

Market Insights

According to the Market Research Future, the global Wearable Sensors Market is estimated to attain a CAGR of 46.73%, reaching the highest valuation of $11,076.90 million, during the evaluation period, 2015-2020.

Technologies like smartphones and connected devices are constantly evolving, and therefore affiliated products for the same are set to launch or will be developed soon at a high rate. Among them, the market experienced the hottest trend, namely the future development of flexible and printed electronics while designing wearable products. A large number of technology-based entities around the globe are rigorously trying to develop these components, which would make it easier for the product designer.  This wearable sensors market trend is estimated to flourish, led by various manufacturers with escalating demand.

Currently, monitoring components in wearable devices are running analogous to each other. Sensors, transducers, and actuators are now an integral part of wearable technology, making products unique and applicable to different platforms. Sensors have become the essential element of almost all wearable electronic devices.

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Market Segmentation

The global market for wearable sensors is subdivided into type, application, and end-user.

The market is segmented by type into motion sensors, medical sensors, image sensors, position sensors, pressure sensors, inertial sensors, and other sensors.

Based on the applications, the market is divided into smart bracelets, smart glasses, smart body clothes, smart shoes, and other wearable devices. The smart bracelet segment acquired a considerable wearable sensors market share of $436.3 million in 2018.

On the basis of end-user, the global market is bifurcated into consumer applications, healthcare applications, and commercial and industrial applications.

Regional Outlook

This is attributed to the high degree of acceptance of digital components in consumer electronics, smart textiles, fitness, and sports markets, which play a key role in the growth of the regional market. In addition, several research grants are awarded by government agencies. The sports and fitness industry has grown in this region, and products such as Fitbit, Microsoft band, are widely used.

The European wearable sensor market is expected to be the second-largest during the forecast period.

In addition, companies operating in the market focus primarily on mergers and acquisitions, which should support market growth. In addition, multinational companies and regional agents are launching investments and launching new technologies in the wearable sensor market.In addition, Australia in the Asia Pacific region accounted for 13.5% of the market in 2018. 

Further, the global market in the Middle East and Africa is expected to grow steadily due to limited access to health and a lack of awareness.

Industry Players

The key players in the wearable sensor industry supporting the growth of the global wearable sensors market include some of the industrial giants such as Wearable Technologies Service GmbH, STMicroelectronics, Rackspace Hosting Inc., InvenSense, Inc., Google Inc., and Xsens Technologies.

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Industry Updates

• A wearable, lightweight, inexpensive air pollution wearable sensor can help detect worker exposure to aerosol and vapor hazards. Developed at Colorado State University (CSU; Fort Collins, USA) through a grant from the National Institute for Occupational Safety and Health (NIOSH), the wearable sensor is based on the design of the Personal Ultrasonic Air Sampler (UPAS), which collects data. particle exposure using a quiet, low power micro pump.

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