Wearable Sensors Market Growth, Trends And Forecast To 2033

10/21/2024 5:00:41 AM

(MENAFN- Straits Research) Introduction

A wearable sensor is a type of sensor that is a technological device worn by individuals to monitor health and fitness-related data. These sensors can be integrated into fabric or other fashion accessories using wired or wireless devices to monitor and diagnose vital signs such as heart rate, blood pressure, and other metabolic activities. With the aid of wearable sensors , it is easier to collect physiological and biological data.

Market Dynamics Growth in Sensor Miniaturization and Technological Advancement Drives the Global Market

Wearable devices like wristwear, bodywear, and eyewear are gaining popularity in healthcare and consumer infotainment. The technology of wearable products has steadily advanced, and the devices have shrunk over time. The size of the sensors is a significant barrier to the widespread adoption of sensing technology, especially for wearable electronics. The hardware components collect physiological and movement data suitable for long-term monitoring. Companies such as STMicroelectronics, NXP Semiconductors, and Broadcom invest significantly in R&D.

Approximately one-third of the world's population currently uses the Internet with higher bandwidths. Thus, the number of internet-capable smart devices in developing countries has increased. Smartphones are one of the most prevalent portable devices in the wearable ecosystem, and they are primarily used to collect and track health and fitness data for the 0–9 and 60+ age groups. Consequently, the expanding market for platforms such as IoT and M2M will likely lead to the expansion of the market for wearable sensors.

Regional Analysis

Several factors will drive the expansion of the North American wearable sensors market. The North American region is anticipated to maintain its dominance throughout the forecast. Due to the United States' rapid adoption of digital technology, the region holds a larger market share. In addition, the APAC market is anticipated to expand at the highest rate over the forecast period.

Key Highlights

The global wearable sensors market size was valued at USD 1390.70 million in 2024 and is projected to reach from USD 1645.20 billion in 2025 to USD 6310.97 billion by 2033, growing at a CAGR of 18.3% during the forecast period (2025-2033).
Based on type, the market is bifurcated into accelerometer, gyroscope, optical, force, and pressure. The accelerometer segment is anticipated to have the highest CAGR during the forecast period.
Based on the device, the market is bifurcated into smartwatches, fitness bands, and smart glasses. The fitness band segment held the largest market share in the wearable sensors industry.
Based on vertical, the market is bifurcated into consumer, defense, healthcare, and industrial. The consumer segment will exhibit the highest CAGR during the forecast period.
The North American region is anticipated to maintain its dominance during the forecast.

Competitive Players

TE. Connectivity LTD.

NXP Semiconductors N.V.

STMicroelectronics N.V.

Robert Bosch GmbH

Infineon Technologies AG

InvenSense

Knowles Electronics

Panasonic Corporation

Sensirion AG

Asahi Kasei Corporation

Recent Developments

June 2022 - STMicroelectronics
updated NanoEdge AI Studio to support on-device learning and inferencing in S.T.'s recently announced AI-native MEMS sensors.
STMicroelectronics has expanded its NanoEdge AI Studio machine-learning design software with support for smart sensors that contain S.T.'s embedded Intelligent Sensor Processing Unit (ISPU).
June 2022 - Metalenz metasurfaces are now on the market through its partnership with STMicroelectronics, marking the introduction of this revolutionary optical technology in real-world devices. Metalenz and STMicroelectronics delivered the world's first optical metasurface technology for consumer electronics devices.

Segmentation

By Type

Accelerometer

Gyroscope

Optical

Force and Pressure

By Device

Smart Watch

Fitness Band

Smart Glasses

By Vertical

Consumer

Defense

Healthcare

Industrial

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