Global Body Area Network Market is expected to grow USD 30.64 Billion at a CAGR of 13.0% by 2032
Research Reports
Sep 27, 2023
The global Body Area Network Market is likely to garner significant revenue growth. Expensive conventional healthcare services would predominantly drive the body area network market demand. According to Market Research Future (MRFR), the global body area network market is poised to grow to USD 30.64 BN by 2032 from USD 10.2 BN in 2022, registering a 13.0% CAGR throughout the review period (2023-2032).
Body Area Network (BAN) technology connects small, low-power wireless devices or wearables that can be carried or embedded in or on the body. BAN technology is extensively used in applications such as health & wellness monitoring, sports training to measure performance, personalized medicine like heart monitors, and personal safety like fall detection.
Various wireless BAN communication technologies are implemented based on the existing radio technologies. Wireless monitoring devices are increasingly used to improve hospital care and continuous home monitoring. However, BAN technology needs a more specific and dedicated technology to achieve its full potential.
The growing geriatric population and adoption of wearable devices are key growth drivers. Besides, advancements in technology, deployment in various applications, and the continuous support of market players would drive the body area networks market growth. The increasing demand for easily deployable & manageable body area network technology and wearables providing an improved level of communication accelerates market shares.
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Market Players
Key players profiled in the global body area network market report include
- Fitbit
- Apple
- Samsung Electronics Co. Ltd
- Fossil Group Inc.
- Garmin Ltd.
- Xiaomi Corporation
- Casio Computer Co., Ltd.
- Huawei Technologies Co., Ltd.
- LG Electronics Inc.
- Polar Electro Oy
- Bragi
- Medtronic plc.
- GOQii, Mobvoi Information Technology Co. Ltd.
- Suunto Oy
- Asustek Computer Inc.
- Withings
- Abbott Laboratories
- Matrix Industries
- Huami Corporation
- Sony Corporation
Body Area Network Market – Segments
The market data has been segmented based on devices, technologies, applications, and regions. The device segment comprises wearables, smart bands, smartwatches, smart earphones, and implantable. The technology segment comprises Bluetooth low energy (BLE), Zigbee, Wi-Fi, and others. The application segment comprises medical & fitness, sports, security, military, and others. By region, the body area network market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and the rest of the world.
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Body Area Network Market – Geographical Coverage
North America will lead the global body area network market demand. Technical advancements and massive investments in research & development boost the body area network market shares. Besides, the rapid adoption of 4G & 3G networks spectrum and rising awareness of self-health monitoring substantiate the body area network market revenues.
Body Area Network Market – Competitive Analysis
This market appears highly competitive and fragmented, with the presence of several notable players competing for market share. They evaluate the opportunities by closely monitoring current market trends and investments. These factors will likely benefit the market players in identifying growth opportunities and designing effective strategies for capturing the market share.
Industry/ Innovation/ Related News:
Jan. 03, 2023 — Ixana unveiled the world’s first Wi-R silicon chip, YR11, allowing for seamless communication with touch. This ultra-low-power wireless chip equips wearables and Metaverse devices with real-time AI. The new high-speed Wi-R silicon chip that can securely communicate with touch is ready for customer sampling. Ixana will introduce transformative capabilities with high-speed data and distributed computing, leading to accelerated adoption of wearables and the Metaverse.
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