LONDON, Jan. 19, 2017 /PRNewswire/ -- "The wearable sensors market expected to grow at a CAGR of 30.14% between 2016 and 2022"
The overall wearable sensors market was valued at USD 189.4 million in 2015 and is expected to reach USD 1,654.0 million by 2022, growing at a CAGR of 30.14% between 2016 and 2022. The growth of this market is driven by the increasing advancement toward smaller, smarter, and cheaper sensors, miniaturization trend in sensors, and mounting benefits of wearable devices in the healthcare sector.
"Wristwear application expected to hold the largest size of the market during the forecast period"
Some of the major devices that are considered under the wristwear application are wristwear bands and bracelets. For wristwear application, healthcare vertical is one of the major sectors because of applications such as fitness monitoring and GPS tracking among others. In the consumer goods vertical, smartphones and tablets are among the major devices that support the smooth functioning of wristwear devices for navigation and position detection applications. Moreover, wristwear devices are widely used by sports, healthcare, and fitness enthusiasts. Thus, the market for wristwear is expected to witness growth between 2016 and 2022.
"Wearable sensors market in North America expected to grow at the highest rate during the forecast period"
North America is expected to be the fastest-growing market. The North American market is segmented into the U.S., Canada, and Mexico. North America is a major market for various sectors such as consumer electronics, automobiles, and healthcare. This region has become a global focal point for large investments and business expansion opportunities. Moreover, consumer electronics is among the major industries contributing toward the growth of the North American region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts. The breakup of the profiles of primary participants is given below:
- By Company Type: Tier 1—45%, Tier 2—31%, and Tier 3—24%
- By Designation: C-Level Executives—34%, Directors—26%, and Others—40%
- By Region: North America—41%, Europe—31%, APAC—18%, and RoW—10%
The key market players profiled in the report are:
- NXP Semiconductors N.V. (Netherlands)
- STMicroelectronics N.V. (Switzerland)
- TE Connectivity Ltd. (U.S.)
- Broadcom Limited (U.S.)
- Knowles Electronics, LLC. (U.S.)
- Analog Devices, Inc. (U.S.)
- Infineon Technologies AG (Germany)
- Asahi Kasei Corporation (Japan)
- Sensirion AG (Switzerland)
- InvenSense, Inc. (U.S.)
- Robert Bosch GmbH (Germany)
- Texas Instruments Incorporated (U.S.)
- Panasonic Corporation (Japan)
- mCube, Inc. (U.S.)
- ams AG (Austria)
- ARM Holdings Plc. (U.K).
- In terms of market by type, sensors such as magnetometers, accelerometers, gyroscopes, inertial sensors, motion sensors, pressure and force sensors, temperature and humidity sensors, microphones and microspeakers, medical-based sensors, image sensors, touch sensors, and others are covered.
- In terms of market by application, wristwear, eyewear, footwear, neckwear, bodywear, and others are covered.
- In terms of market by vertical, consumer goods, healthcare, industrial, and others are covered.
- The geographic analysis is done with regard to four major regions, namely, North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) (South America and Middle East and Africa).
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market ranking analysis of top players, value chain analysis; company profiles which discuss the basic views on the competitive landscape, emerging and high-growth segments of the wearable sensors market, high-growth regions, and market dynamics such as drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Market penetration: Comprehensive information on wearable sensors offered by the top players in the overall wearable sensors market.
- Product development/innovation: Detailed insights regarding R&D activities, emerging technologies, and new product launches in the wearable sensors market.
- Market development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for wearable sensors across regions.
- Market diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the overall wearable sensors market.
- Competitive assessment: In-depth assessment of market ranking analysis, strategies, products, and manufacturing capabilities of the leading players in the wearable sensors market.
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