Global Wearable Sensor Market is valued at 958.6 Million in 2021 and is expected to reach 5950.4 Million by 2028 with a CAGR of 29.8% over the forecast period.
Wearable sensors are used in wearable devices and textiles to gather physiological and movement data to empower patients' status monitoring. Sensors are organized according to the clinical application of interest. In this, some of the sensor technologies are designed following the prevention of diseases and maintenance of health, such as weight control and physical activity monitoring. These sensors are referring to textiles and clothing with integrated electronic technology or other computing devices that provide smart functionalities. These smart textiles augment creativity, intellect, communication, memory, and physical senses. In the wearable sensor, there are several types available like accelerometers, gyroscopes, magnetometers, heart rate sensors, pedometers, and others.
The Covid-19 pandemic has shown a mixed impact on the growth of the wearable sensor market. In the Covid-19 pandemic, people are more conscious about their health and they adopted more advanced devices to measure day-to-day oxygen, heart rate, and so on. However, due to lockdown, disturbance in the raw material supply chain, stringent rules, and regulation on manufacturing industries have affected the market growth to some extent. Additionally, some of the Asian countries which are the manufacturer of sensors are facing export-import restrictions due to these countries experiencing huge decline in the market.
Global wearable sensor market is segmented on the basis of type, technology, applications, vertical and region & country level. On the basis of type, market is segmented into the accelerometers, magnetometers, gyroscopes, inertial sensors, motion sensors, pressure & force sensors, temperature & humidity sensors, microphones & microspeakers, medical-based sensors, image sensors, touch sensors and other sensors. Based upon technology, the global wearable sensor market is segmented into MEMS, CMOS and other. Based upon application, the global wearable sensor market is segmented into wristwear, eyewear, footwear, neckwear, bodywear and others. Based upon vertical, the market is segmented into consumer goods, healthcare, industrial, other verticals.
The regions covered in the Global Wearable Sensor Market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. On the basis of country level, the market of Global Wearable Sensor is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, South East Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
Increasing Awareness about health and fitness and rising adoption of smart wearable devices are some of the major factors driving the growth of the global wearable sensor market in wearable devices. Daily Physical activity is an important factor in mental fitness and disease prevention, and also linked with many chronic diseases and their risk factors, like, cardiovascular disease, type II diabetes, certain cancers, injury from daily work and chores, high blood pressure, and high blood cholesterol. For example; according to World Health Organization; around 85% were people death are caused by due to heart attack and stroke as well as 17.9 million people died from cardiovascular diseases in 2019. Whereas, over-exercising has created risks related to health to avoid this over excising the number of companies launched number of wearable devices which are inserted with the various sensors. And, the number of wearable devices are added features like heart rate counter which indirectly help into the healthy heart. These wearable devices are used for tracking information on a real-time basis. They have motion sensors that take the snapshot of your day-to-day activity and sync them with mobile devices or laptop computers.
In addition, growing adoption of smart wearable devices is one of the major factors driving the growth of the global wearable sensor market in wearable devices. In the last few years, people are more aware of connected devices and turning towards internet adoption. Due to the increasing penetration of the internet and social media, the demand for wearable devices demand is rising. Additionally, several companies are investing in the new wearable sensors. These sensors are growingly sued into the textiles and clothing to monitor the health and wellbeing of the patients and send back information to the hub station in real-time. For the last few years in the market number of startups set to enter the market. Moreover, nowadays some wearable devices are high in demand like smartwatches, fitness trackers, head-mounted displays, sports watches, smart clothing. For example; about one in three Americans at least tried digital health products such as a Fitbit or smartwatch (34%) or have tracked their health statistics on a phone or tablet app (32%).
However, stringent rules and regulations and health concerns may restrict the market growth. Despite increasing research and development activities to develop more innovative product offerings may create more opportunities for the further growth of the market.
On July 29th, 2021; Scientists from NTU Singapore created a new type of light sensor that is both flexible and highly sensitive. While invisible to the human eye, UV rays surround us in our environment, and excessive exposure can cause health issues including skin cancer and premature skin aging. The NTU team created their flexible UV light sensors on a semiconductor wafer 8 inches in diameter, using free-standing single-crystalline layers of gallium nitride (GaN) and aluminum gallium nitride (AlGaN), arranged using membranes that consist of two different thin semiconductor layers (heterostructure membranes).
O December 8th, 2020; According to the Mercom Digital Health Funding and M&A Report Digital health wearables received USD 700 million in 30 funding rounds in the first nine months of 2020, compared to 312 million in 25 funding rounds in 9M 2019, a 45% increase in funding.
On November 11th, 2020; Santa Barbara digital health tech startup Milo Sensors launched ION, a wearable system for continuous alcohol consumption monitoring, for beta release. ION was developed for applications that benefit from continuous data feedback to the individual, information that is useful to help promote a healthy lifestyle and encourage choices. Subscriptions are $299/month, and beta tester discounts and research packages are available.
On July 25th, 2020; In the Covid-19 the IIT-Madras invested 22 crore INR for launching wrist band which has inbuild sensor for skin temperature heart rate and blood oxygen saturation which can continuously track these body vitals remotely to help in early diagnosis of COVID-19 symptoms. The tracker will be Bluetooth-enabled and can be connected to the mobile phone via an app called the Muse Health App.
On May 26th, 2020; Royal Philips received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its wearable biosensor (Philips Biosensor BX100) to help manage confirmed and suspected COVID-19 patients in the hospital. The next generation wireless wearable biosensor enhances clinical surveillance in the Philips patient deterioration detection solution to help clinicians detect risk so they can intervene earlier and help improve care for patients in lower acuity care areas. The solution has already received CE mark, and is currently in use with the first install at the OLVG Hospital in the Netherlands to help manage the triage and clinical surveillance of Covid-19 patients.
North America is expected to dominate the global wearable sensor market due to the high awareness regarding the wearable devices, easy availability and increasing geriatric population in this region. In the U.S number of people are battling various cardiovascular diseases. Heart disease is the leading cause of death for men, women, and people of most racial and ethnic groups in the United States. In the United States, one human has a heart attack around every 40 seconds. Due to this in North America, the number of people are more concerning about their health. People are expending more money on health-related devices and smart wearable devices are one of them. The risk of cardiovascular diseases is major in the geriatric population. With the help of these devices, people can easily track their health updates like heart rates, blood pressure, and so on.
The Asia Pacific is expected to show a fastest growth in the global wearable sensor market due to the growing consumer electronics industry and rising awareness regarding the use of wearable medical devices in this region. Additionally, With a growing technology-savvy population, a growing pool of chronic diseases such as obesity and diabetes, and the growing popularity of health and fitness to maintain a healthy lifestyle, the market has begun to grow. For example; Demand for Huawei's smartwatches increased in China and other Asian markets where shipment volumes grew by 90 percent in the first six months. In recent years the young generation are rousingly attracted to smart clothing and smart wearable devices. For example, Xiaomi has launched a new smartwatch created specifically for children called Xiaomi Mi Bunny Kids 3 in China for an initial price of about 75 euros.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 958.6 Million|
|Base year considered||2021|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 5950.4 Million|
|Tables, Charts & Figures:||175|
|Wearable Sensor Comapnies||Jabil, Texas Instruments Incorporated, Ava AG. Private Company, Analog Devices, Inc., BAE SYSTEMS PLC, Samsung Electronics, ZOLL Medical Corporation(Asahi Kasei Corporation), Infineon Technologies AG, Silicon Laboratories, Inc., STMicroelectronics, Clairity, InvenSense Inc. & Other|
|Segments Covered||By Type, By Technology, By Application, By Vertical|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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