Market Research Report Search Engine Added "Wearable Sensor Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020" to its database.
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Wearable sensor market growing at a cagr of 45.2% from 2014 to 2020
1. Wearable Sensor Market Growing at a CAGR of 45.2% From
2014 to 2020
Report Description
Global wearable sensors market was valued at USD 70 million
in 2014, growing at a CAGR of 45.2% from 2014 to 2020.
Wearable sensor is one of the most important components of
2. wearable technologies. Wearable sensors are embedded into
wide range of wearable devices enabling it with various
sensing functions including image sensing, pressure sensing,
motion sensing and temperature sensing among others. It is
incorporated in wearable devices which can be categorized
into: wrist wear, body wear, eye wear and foot wear among
others.
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The global wearable sensors market is segmented by regions
into North America, Europe, Asia Pacific (APAC) and Rest of
the World (RoW). The growth of wearable sensors market is
3. primarily driven by the increasing demand for wearable
devices in health care and consumer electronics industry
segment. Moreover, the growing application of wearable
sensors in wearable health care devices has substantially
raised the demand of wearable sensors. In addition, the
lowering cost of raw materials required to manufacture
wearable sensors have further contributed to the growth of
wearable sensors market significantly.
In 2014, North America led the wearable sensors market and
the region is expected to maintain its dominance throughout
the forecast period. The adoption of wearable devices which
includes, smart watches, fitness bands and wearable medical
monitoring devices among others is leading to the growth of
4. wearable sensors market in the region. Europe followed North
America accounting for more than 38% of the global market
revenue share. Asia pacific (APAC) and RoW are analyzed as
niche markets for wearable sensors during the forecast period
but are expected to grow significantly during the forecast
period.
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The global wearable sensors market by sensor types is
categorized into motion sensors, pressure sensors, temperature
sensors, image sensors, position sensors, medical based
sensors and others. The motion sensors had the highest
5. market revenue share in 2014 and are expected to continue
its dominance during the forecast period. Motion sensors find
its applications in wide range of wearable devices but mainly
include smart watches and fitness bands. Motion sensors are
used to enable wearable devices with functionalities including
accelerometer, gyroscope and magnetic sensors. Further
medical based sensors which include pulse and temperature
sensors are expected to grow significantly during the forecast
period due to increasing adoption of sensors in wearable
medical devices.
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6. Based on the application, the wearable sensors market is
segmented into wrist wear, eye wear, foot wear, body wear
and others. Wrist wear has the highest market revenue share
contributing more than 46% of the global market followed by
foot wear. Wrist wear wearable devices mainly include smart
watches and fitness band. Various multinational giants like
Microsoft, Apple and Nike among others are entering into the
wearable wrist wear device market, leading to the growth of
this application segment. In addition, body wear segment is
analyzed to be the fastest growing application segment for
wearable sensors.
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