Wearable Sensors Market to See Massive Growth in Asia Pacific
According to a MarketsandMarkets analysis, there will be a significant increase in the Wearable Sensors Market. The market is predicted to increase from USD 189.4 Million in 2015 to USD 1,654.0 Million by 2022, exhibiting a CAGR of 30.14% between 2016 and 2022, according to the analysis. The market is anticipated to develop as a result of the rising demand for wearables in fields like fitness and health monitoring as well as the growing use of wearables in commercial and industrial settings. The main categories of wearable sensors are characterised as accelerometers, magnetometers, and gyroscopes, with wristwear, eyeglasses, and bodywear being the main applications.
The Wearable Sensors Market is expanding as a result of the growing tendency for smaller, more intelligent, and less expensive sensors as well as the shrinking trend in sensors. Wearable technology is anticipated to have a substantial positive impact on the healthcare industry, resulting in a rise in the use of wearable sensors. In the healthcare industry, wearable sensors are being used to track vital signs, spot falls, and keep tabs on medication compliance.
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The major companies involved in the development of wearable sensors include NXP Semiconductors N.V. (Netherlands), STMicroelectronics N.V. (Switzerland), TE Connectivity Ltd. (U.S.), Broadcom Limited (U.S.), Knowles Electronics, LLC. (U.S.), Analog Devices, Inc. (U.S.), Infineon Technologies AG (Germany), Asahi Kasei Corporation (Japan), Sensirion AG (Switzerland), InvenSense, Inc. (U.S.), Robert Bosch GmbH (Germany), Texas Instruments Incorporated (U.S.), Panasonic Corporation (Japan), mCube, Inc. (U.S.), ams AG (Austria), and ARM Holdings Plc. (U.K), among others.
"Accelerometers expected to hold a major share of the wearable sensors market during the forecast period"
Accelerometer demand in the wearable sensors market is anticipated to increase significantly over the projected period. This sensor is widely employed in many wearable technology applications, especially in wrist, body, and eyewear. Wristwear is highly demanded in the healthcare, medical, and consumer electronics industries. Accelerometers are frequently found in smartwatches and smart bands for tracking and navigational purposes. They are used to detect position, velocity, vibration, and shock. The widespread use of wearable technology in various sectors is boosting the demand for accelerometers.
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"Market for Bodywear application expected to grow at the highest rate between 2016 and 2022"
The Wearable Sensors Market for bodywear is expected to develop at the fastest rate between 2016 and 2022. Bodywear applications, a new market trend, are widely used in a variety of sectors, including consumer electronics, industrial, and medical. They are made up of sensors woven into fabrics. Fibertronics technology is used in bodywear applications to incorporate electronics and computational capabilities into textile textiles, resulting in a trend of techno-fashion clothing that places sensors close to the skin to assess various health and fitness metrics.
"Wearable sensors market in North America expected to grow at the highest rate during the forecast period"
Due to the region's emphasis on the industrial, consumer electronics, and healthcare sectors, North America is predicted to see the fastest growth rate for the Wearable Sensors Market over the forecast period. According to the survey, the US, Canada, and Mexico make up the North American market. While Europe is a prospective market for the healthcare and industrial sectors since nations like the UK, Germany, and France are actively seeking to expand their positions in these industries, the APAC region is a key market for numerous sectors, including consumer electronics and industrial.
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