Growing Demand for Motion Sensors sees the Global Wearable Sensors Market Through

Commonly known as wearable sensors, sensors based on micro-electromechanical systems (MEM) are capable of processing and quantifying certain elements in their surroundings. Wearable sensors are embedded into devices that we wear and use every day, such as watches or bracelets. They can monitor bodily activities such as heart rate, body temperature, and blood pressure. This is a priceless asset for those who need to keep a check on their physical state or even for those who are simply health-conscious.

The key growth driver for the global wearable sensors market has always been the increasingly health-conscious global population. Their growing numbers results directly in an elevated demand for wearable health tracking technology, which incorporates wearable sensors. However, wearable sensors have only recently evolved from their nascent stage of pure research and development to be available to the masses. Due to this, prices for technologies offered by the global wearable sensors market have been rather steep. The ongoing technological advancement means that manufacturers will find ways to produce wearable sensors in larger number more efficiently, thereby meeting the growing demand at cheaper prices.

Healthcare Sector Shows High Demand for Wearable Sensors

There are currently three top user segments for the global wearable sensors market: security, healthcare, and fitness. Of these, the healthcare segment has recently shown a high level of demand for wearable sensors that can be used to monitor and scan patients. One of the other top end users for the global wearable sensors market is consumer electronics, smartphones in particular. Another segment that is generating a high demand for the global wearable sensors market is gaming. All segments employ customized wearable sensors that are built for the specific purpose that they seek. They all are set to benefit from the technological advancements that are occurring in the various industry verticals. Two of the most commonly used devices in the global wearable sensors market are fitness bands and smartwatches.

Growing Demand for Motion Sensors sees the Global Wearable Sensors Market Through

The motion sensors segment held the largest share in the global wearable sensors market in 2014, amounting to US$24.7 million. The segment is expected to stay the leading product type in the coming years. Other product segments include medical sensors, position sensors, image sensors, temperature sensors, and pressure sensors. According the various applications, the global wearable sensors market was led by wrist wear in 2014, when it generated US$32.6 million in revenue. The boom in the demand for smartwatches and fitness bands has fueled the growth of this segment. Wrist wears are expected to grow at a stupendous CAGR of 45% between 2014 and 2020.

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North America Leads Global Wearable Sensors Market

North America displayed a growing desire to maintain healthier lifestyles, especially in the U.S., Mexico, and Canada. The region also plays host to some of the biggest names in the global wearable sensors market. Their research and development efforts are therefore aimed directly at the consumers in this region, prompting its growth even further. Some of the top participants in the global wearable sensors market include Panasonic Corporation, NXP Semiconductors, Infineon Technologies AG, Analog devices Inc., Freescale Semiconductor Inc., and Texas Instruments.

Armed with an astounding expected CAGR of 45.2% from 2014 to 2020, the global wearable sensors market is set to flourish in almost all its segments. The market’s previous values of US$50 million in 2013 and US$70 million in 2014 stand as evidence of the huge growth potential it holds. If this growth rate holds, the global wearable sensors market will reach US$656.7 million in 2020. With the huge demand that it’s currently experiencing from healthcare and consumer electronics, we can see that the global wearable sensors market is here to bring about a big change in the way we live.