Wearable Sensors Market in Asia Pacific is expected to expand at a rapid CAGR | Allied Market Research

Allied Market Research, titled, " Wearable Sensor Market by Product Type and Application: Global Opportunity Analysis and Industry Forecast, 2014 - 2022",the global wearable sensor market was valued at $123 million in 2015, and is projected to reach $2,258 million by 2022, growing at a CAGR of 52.9% from 2016 to 2022. The wrist wear segment accounted for more than 45% share of the global market in 2015.

Medical implants equipped with wearable sensors are used in diagnostic and monitoring applications. In the healthcare sector, wearable sensors are mostly used in remote monitoring systems, which collect physiological and movement data for monitoring the health of patients.

The global wearable market is driven by factors such as introduction of new wearable sensors integrated in products such as smart shirt, eyewear, smart ring, and others through technological advancements, growing popularity of Internet of things (IOT) trend, and increasing use of smart consumer electronic devices such as smartphones and tablets. However, privacy & security concerns and high cost of wearable sensors are expected to hamper the market growth.

Wrist wear product segment is expected to maintain its dominant position in the global market until 2022 owing to technology advancements by prominent manufacturers, such as Samsung, Apple, and Fitbit, which facilitate easy integration of smart sensors in smartphones & tablets.

The motion sensors segment accounted for more than one-third share of the global market, in terms of value, in 2015. Compactness of wearable sensors and introduction of micro-electro-mechanical systems (MEMS) technology into the motion sensor industry have increased their utility in the field of automotive, aerospace & defense, healthcare, consumer electronics, and others.

Key Findings of the Wearable Sensors Market:

• Wrist wear segment is projected to be the highest revenue contributor, in terms of value, to the global market throughout the forecast period.
• Image sensors segment is expected to grow at a significant CAGR until 2022.
• The North American wearable sensors market accounted for more than one-third share of the global market in 2015.
• LAMEA is estimated to be the fastest growing region, registering a CAGR of 54.7% from 2016 to 2022.
• Japan was the highest revenue contributor to the global market in 2015, accounting for more than one-fourth share of the Asia-Pacific region.

In 2015, North America and Europe collectively accounted for more than three-fifths share of the global wearable sensors market, and are expected to continue this trend during the forecast period, owing to increased adoption of technologically advanced products, surge in concerns towards health & fitness, and expansion of IoT.

The major companies profiled in the report include Panasonic Corporation, STMicroelectronics, Adidas, Texas Instruments Incorporated, Analog Devices, ZOLL Medical Corporation (Asahi Kasei Corporation), Infineon Technologies AG., InvenSense Inc., Intel Inc., and Google Inc.

Key Benefits for Wearable Sensor Market :

• This report provides extensive analyses of the current wearable sensors market trends and dynamics of the global wearable sensors market.
• Competitive intelligence of leading manufacturers and distributors of wearable sensors helps in understanding the market scenario across geographies.
• This report entails the detailed quantitative analysis of the current wearable sensors market and estimations for the period of 2014-2022 to identify the prevailing market opportunities.
• Recent developments, key manufacturers, their market shares, and upcoming products have been enlisted in the report.
• Exhaustive analysis of the global wearable sensors market by type helps in understanding the wearable sensors market trends.
• Comprehensive analyses of factors that drive and restrict the growth of the global wearable sensors market are provided in the report.
• The wearable sensor market has witnessed huge traction in the recent years, owing to the recent advances in telecommunications, microelectronics, sensor manufacturing, and data analysis techniques, especially in the healthcare sector. Medical grade wearable sensors are used in various accessories such as hats, wrist bands, socks, shoes, eyeglasses, wristwatches, headphones, and garments.
• Sensor size plays a vital role in the adoption of wearable sensors in critical applications of the healthcare industry. However, the use of wearable sensors is expected to increase in the healthcare sector, owing to evolution in miniature circuits, microcontroller functions, front-end amplification, and wireless data transmission. In digital health monitoring systems, wearable sensors facilitate continuous physiological access and reduce manual intervention
• The global wearable sensor market is expected to witness tremendous growth, owing to the increasing scope of applications of these sensors. The adoption of sensors has increased among individuals, owing to the growing incidence of health hazards caused by pollution and rising concerns about health and well-being. Moreover, the need for easy and convenient patient monitoring techniques from a distant location has supplemented the market growth.