Wearable Sensors Market to be worth more than US$4 billion by 2021

Posted by Knowledge Sourcing 04/09/2016 0 Comment(s) Press Releases,

Knowledge Sourcing Intelligence announces publication of its new report on Wearable Sensors Market – Forecasts from 2016 to 2021 by Type (Image Sensors, Position sensors and Motion sensors), End Users (Small, Medium and Large Enterprises), Industry Verticals (Manufacturing, Healthcare etc.) and Geography. Wearable Sensors Market is projected to grow at a compound annual growth rate of 39.50% over the period 2015 to 2021. Demand for these types of sensors has been experiencing upswing since the major technological revolution over the last decade which led to miniaturization of devices their connectivity to internet and smartphones.

Major Reason for Rapid Growth and Demand

Wearable sensors have found major application across healthcare sector and are being implemented actively for different applications like monitoring heart rate, pulse, body temperature, calories burnt among various other parameters. Personalized and remote health monitoring has also impacted the demand for these sensors with new form of devices being commercialized or are in research and development phase. Other key factors which have augmented the demand for these sensors are advancement in sensor technologies, multiple channels of wireless communication and longer battery life of the devices in which they are being actively used.  

Asia-Pacific region to lead the market growth

Asia-Pacific region is expected to become one of the biggest market for Wearable Sensors in the future. North America region is currently the biggest market for Wearable Sensors followed closely by Europe and Asia Pacific. North America region has for a long time been one of the primary market for testing and adoption of new technologies leading to its dominance. Asia-Pacific region is another emerging market for new technologies and is expected to be the fastest growing market for Wearable Sensors during the forecast period owing to fast growing consumer base and some of the high growth economies. 

About Knowledge Sourcing Intelligence

Knowledge Sourcing Intelligence is a market research and consulting firm based out of India. Driven by industry experts, the company provides syndicated reports, custom research and consulting services. Our proprietary data analytics model blended with quality primary and secondary research data assists in generating quality reports providing crucial insights to managers and decision makers. The services offered by us helps companies to gain required competitive edge. Our expertise across 10 industries such as ICT, Chemicals, Semiconductors, Healthcare among others caters to diverse client needs.