Global wearable sensors market is anticipated to record around US $4,281 million by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
As per the report, escalating demand from the healthcare sector along with growing penetration in the telecom industry will drive wearable sensors market growth. Profound application in consumer electronics & wearable, as well as growing health concerns among people will supplement product demand.
In 2017, the consumer end-user segment effectively dominated the global wearable sensors market in terms of revenue. In addition, the report suggests that increasing adoption of MEMS, NEMS, and IoT technologies will boost adoption of wearable sensors, hence fostering industry size.
Currently, factors like growing geriatric population, rapid technological advancements, and development of smart technologies drive wearable sensor market growth. Emerging new markets, evolving consumer demographics, and increasing end-use application would also offer impetus to wearable sensors industry over the coming years.
As per regional contribution, North America accounted for the highest market share in 2017. Primarily, factors like well-established healthcare sector, rising healthcare expenditure, growing consumer awareness, and health concerns drive the regional wearable sensors market growth. Increasing demand for consumer electronics, rising technological advancements, and high investment in R&D are anticipated to further expand market size.
Favorable government regulations associated with wearable sensors, and rising demand for fitness monitoring devices is estimated to boost product demand in the region. Whereas, increasing innovation in smart technologies, growing adoption of connected devices and IoT, will enhance North America wearable sensors market share.
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Renowned firms operating in wearable sensors market include Texas Instruments Inc., Infineon Technologies AG, Broadcom Ltd., NXP Semiconductors N.V., Asahi Kasei Microdevices Corp., Robert Bosch GmbH, TE Connectivity Ltd., Invensense, Inc., Knowles Electronics, LLC, and Panasonic Corp. The company profiles of leading firms alongside their business overview, product benchmarking, financials, and recent developments are mentioned in the market report.
Seemingly, to gain a completive lead over rivals, industry partakers are constantly launching new products into the market. They are also initiating partnerships with other market leaders to develop technologically advanced products that can efficiently meet user demands and requirements.
The report offers an updated overview of wearable sensors market with respect to Porter’s five forces, industry trends, market forces, ecosystem analysis, competitive ranking analysis, and PEST analysis. It also provides an extensive quantitative and qualitative analysis of potential trends and growth prospects in wearable sensors industry between 2018-2026.