Global Wearable Sensors Market is Expected to Reach USD 4.0 billion by 2024, Registering a CAGR of 32.4% during the Forecast Period: VynZ Research – iCrowdNewswire
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Sep 2, 2019 1:35 PM ET

Global Wearable Sensors Market is Expected to Reach USD 4.0 billion by 2024, Registering a CAGR of 32.4% during the Forecast Period: VynZ Research


iCrowd Newswire - Sep 2, 2019

The global wearable sensors market is projected to witness considerable growth, at CAGR 32.4% during the forecast period attaining a market size of USD 4 billion by 2024.

Industry Insights by Type (Medical Based Sensors, Image Sensors, Motion Sensors, Pressure Sensors, Position Sensors, Inertial Sensors, and Others), by Application (Wristwear, Eyewear, Footwear, Neckwear, Bodywear, and Others), by Vertical (Industrial, Consumer, Healthcare, and Others)

The primary factors responsible for the leading growth of the market include rise in usage of biosensors; increasing adoption of wireless sensing and continuous monitoring devices with the advent of technological platforms such as internet of things (IoT), virtual reality (VR) and augmented reality (AR); and surge in demand of compact and cost-effective sensors.

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Wearable Medical Devices Market

Motion sensors category accounted for the largest revenue share in the wearable sensors market

Based on type, the wearable sensors market is fragmented into medical based sensors, image sensors, motion sensors, pressure sensors, position sensors, inertial sensors and others. Among these, motion sensors lead the market by size and are also anticipated to witness significant growth, at CAGR 33.1% during the forecast period. The advantages of motion sensors in monitoring and tracking have led to its increased usage across residential, commercial and varied industrial application.

On the basis of vertical, the wearable sensors market is categorized into industrial, consumer, healthcare and others. Consumer is estimated to lead as the fastest category during the forecast period, owing to the increasing demand of smart gadgets and wearables across sports, gaming, and clothing industry.

Competitive Insight

Some of the leading players in the wearable sensors industry include InvenSense, Inc., NXP Semiconductors N.V., Panasonic Corporation, Robert Bosch GmbH, STMicroelectronics N.V., Texas Instruments Incorporated, KIONIX, Inc. (ROHM Co., Ltd.), TE Connectivity Ltd., Analog Devices, Inc., ZOLL Medical Corporation (Asahi Kasei Corporation), and Infineon Technologies AG.

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Primary Research

In the primary data collection process, there are several sources interviewed in order to obtain precise quantitative and qualitative information for this study. The primary sources those are included for the data collection of this study comprises of manufacturers, commercial growers, industry consultants and others key industry experts. There are several others sources that helped in gaining insightful information about this market are CEOs, marketing and sales directors, vice presidents, and key opinion leaders from various key companies operating in the global wearable sensors market. Primary research in this report has been conducted for estimating market size, market dynamics and strategies adopted by the key players in this market.

Secondary Research

Secondary sources referred for this research report includes association for sensors, business filings such as financial statements, annual reports, investor presentations and trade associations. The secondary data has been used for estimating overall market size and growth of wearable sensors market that has been authenticated with the supporting facts gathered through primary data collection.

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Global Wearable Sensors Market Coverage

Type Insight and Forecast 2014-2024

Application Insight and Forecast 2014-2024

Vertical Insight and Forecast 2014-2024

Geographical Segmentation

Wearable Sensors Market by Region

North America

Europe

Asia-Pacific (APAC)

Rest of the World (RoW)

 

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