Knowledge Sourcing Intelligence announces the publication of a new report on “Wearable Sensors Market – Forecast from 2020 to 2025” to their offering.
The increasing demand for fitness, wellness, and lifestyle tracking devices as well as the growing expenditure on healthcare are the prime drivers leading to the growth of this market.
According to the report, the Wearable Sensors Market is expected to reach US$2.529 billion by 2025, from US$0.612 billion in 2019.
The wearable sensors have a plethora of applications that are inclusive of but not limited to tracking information pertaining to health, location as well as fitness which when embedded in a wearable device or technology are called wearable sensors. wearable sensors are increasingly being integrated with clothes, accessories, etc. which with aid of wireless capabilities facilitates physiological sensing for measuring and monitoring a few metabolic activities like heart rate, calorie count, blood oxygen level, and blood pressure. The rapid growth of the wearable device and smartphone adoption is one of the factors that is expected to drive the growth of the wearable sensors market during the forecast period. Delving further into the aspect of consumer electronics the development and consequent technological advancement of the semiconductor industry, an increasing rate of devise miniaturization, as well as the profusion of the all-encompassing IoT (internet of things) has led to a renewed interest and greater affordability of wearable sensors. Further, the growing inclination of adopting smart living that necessitates the demand for smart devices will also facilitate a robust growth of the market. The market is gaining even more prominence as players in this market are integrated contextual information and data points to determine motion sensing activities.
Application-wise, the segment pertaining to fitness will account for the largest share in the wearable sensors market aiding the growth of the market to great heights. The rising popularity of health and fitness devices stemming from the need to adhere to healthy living is expected to drive this segment. Further, fitness bands are being provisioned with more advanced technologies that are substantiated with more features than smart watches and are being made available at a relatively affordable price. New models, as well as versions, are increasingly being launched frequently that is driven by the capabilities of fitness bands, which are inclusive of but not limited to, step tracking, heart rate variation, calories count, and sleep quality analysis as well as due to the design which is simple and user friendly. For instance, the global pioneer of heart rate monitoring and sports wearable technology, Polar Electro Oy that was established in 1977 and headquartered Kempele, Finland, in January 2020, introduced its latest heart rate sensor POLAR H9 that features the globally popular heart rate technology and provides an all-encompassing package intended for entry-level users, made available at affordable price. Again, the same organization recently in July 2020, launched another entry lever user-friendly fitness tracker and has been designed based on the new user especially those whoa re about embrace regular fitness. The product has been manufactured to enable the user for everyday wear with the advantage of receiving notification form smartphones and stats obtained from sleep-tracking, all-day heart monitoring as well as guided breathing.
On the other hand, there are players which are entering the fitness band market with new launches, as evidenced by the launch of Oppo Band by Oppo in June 2020, that is packed with features like 12 different sports modes, 5ATM water resistance, continuous blood oxygen monitoring for up to 480 minutes/28,800 times, continuous heart rate monitoring, NFC support, over 160 watch faces, as well as sleep tracking. The product has three variants, Oppo Band, the Oppo Fashion Band, and Oppo Band EVA. Besides, there are partnerships too to make various products available facilitating the consumer to send their data to medical professionals. Thus, to this extent it should be noted that Belgium based FibriCheck in September 2019, reportedly became the first CE-marked app to be available on Fitbit smartwatches in the EU. The new partnership reportedly enables consumers to monitor conditions pertaining to heart rhythm abnormalities including atrial fibrillation directly trough sensor embedded in the Fitbit devices as well as through light-based technology that aids in measuring the blood flow rate through their wrist within 60 seconds, thereafter through FibriCheck’s web interface the measurements can be shared with medical professionals.
As part of the report, the major players in the wearable sensors market are also covered.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/wearable-sensors-market
In this report the Wearable Sensors Market has been segmented based on the following: