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Wearable Sensor Market Research Report by Size, Share, Revenue, Drivers, Trends, Challenges, Opportunities

The Wearable Sensor Market was valued at US$ 1,906.74 million in 2021 to reach US$ 5,762.57 million by 2028. It is estimated to grow at a CAGR of 17.1% from 2021 to 2028.

A sharp rise in the use of smartphones and connected devices and the increasing need for smaller and lighter sensors with low-power requirements and enhanced performance are a few of the factors stimulating the trend of miniaturization. Advancements in nanotechnology and micro-fabrication technologies have been driving the progress of the miniaturization process, thereby making smart sensors cost-effective and anchoring the emergence of smart fabrics.

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The List of Companies –

  1. NXP Semiconductors N.V.
  2. Infineon Technologies AG
  3. STMicroelectronics N.V.
  4. InvenSense, Inc
  5. Robert Bosch GmbH
  6. TEXAS INSTRUMENTS
  7. ANALOG DEVICES
  8. Panasonic Corporation
  9. Broadcom Limited
  10. Murata Manufacturing Company Ltd.

Based on application, the market is segmented into smart wristwear, smart glasses, smart bodywear, smart footwear, and other applications. In 2021, the smart wristwear segment led the wearable sensor market and accounted for a larger market share. Based on vertical, the market is segmented into consumer electronics, healthcare, enterprise, and industrial. In 2021, the consumer electronics segment led the wearable sensor market and accounted for a larger market share. Geographically, the market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World (ROW). In 2021, APAC accounted for a significant share in the global market.

The COVID-19 has marginally affected the operations of electronics and semiconductor manufacturers including wearable sensors market players as manufacturers continued their operations with partial workforces which impacted to the product deliveries in 2020. However, from Q1 of 2021, manufacturers increased their production to maximum capacity. For instance, in march 2020, Amphenol, a leading wearable sensor manufacturer announced its Thyez manufacturing facility in France is fully operations and was is able to meet its deliveries timelines.

For instance, in the end of 2020, Samsung announced it witnessed 218% increase in smartwatch sales in Q1 of 2020 compared to Q1 of 2019 and further also announced to that it will be manufacturing smartwatches and fitness bands in Brazil. Also, several manufacturing facilities and government agencies showcased use of advanced technology such as AR and VR. For instance, UAE police started to use smart helmet to strengthen fight against coronavirus. The smart helmet used by police officials are powered by thermal scanning capabilities which allows the officials to identify person with high temperature in public places. Moreover, several market initiatives were witness in 2021 from end users which showcased positive growth trend. Thus, wearable sensors market was negatively affected in 2020 due to bottlenecks in supply chain, however robust demand from end users from 2021 positively influenced the growth of wearable sensors market.

The wearable sensor market is analyzed on the basis of sensor type, application, and vertical. Based on sensor type, the market is segmented into accelerometer, gyroscope, motion sensors, image sensors, position sensors, pressure & force sensors, touch sensors, and other sensors. In 2021, the accelerometer segment led the wearable sensor market and accounted for the largest market share.

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TABLE OF CONTENTS

  1. Introduction

1.1 Study Scope

1.2 Research Report Guidance

1.3 Market Segmentation

  1. Key Takeaways
  2. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

  1. Wearable Sensors Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.2.1 North America

4.2.2 Europe

4.2.3 APAC

4.2.4 ROW

4.3 Ecosystem Analysis

4.4 Expert Opinions

  1. Key Industry Dynamics

Continued…

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