Major companies in wearable sensor market are Broadcom Limited (Avago), Robert Bosch GmbH, Infineon Technologies AG, STMicroelectronics, Knowles Electronics, LLC., mCube, Inc., TE Connectivity Ltd., Panasonic Corporation, NXP Semiconductors, Asahi Kasei Corporation, Texas Instruments Inc, Invensense, Inc., and ARM Holdings PLC amongst others. These players are set to bolster the development of global wearable sensor market.
According to analysts at Zion Market Research, the global wearable sensor market added up for almost USD 237.93 Million in 2016 and is likely to cross almost USD 1,387.04 Million by end of 2022, developing at a CAGR of almost 34.2% from 2017 to 2022.
Mounting Advantages Of Wearable Devices In The Healthcare Industry To Fuel Wearable sensor market
The development of global wearable sensor market is majorly credited to growing interest of tier 1 companies in wearable environment, elevated penetration of wireless connectivity, and mounting advantages of wearable devices in the healthcare industry, as per analysts at Zion Market Research. In addition to this, improvements in sensor manufacturing, microelectronics, and telecommunication are estimated to lend a helping hand in the growth of wearable sensor market. Apart from this, decreasing cost, miniaturization, and integration with user electronic accessories & devices spur the demand of wearable sensor market. On the other hand, user awareness related to the usage and benefits of wearable sensors is likely to have adverse affect on wearable sensor market.
Still, increasing number of linked devices paired with impending applications of wearable technology are some of the reasons that might unlock new growth opportunities in the near future for wearable sensor market. For instance, in August 2018, new wearable sensor technology was launched to assist quit smoking by scientists in the U.S. at Case Western Reserve University. Moreover, noteworthy employment of accelerometers sensors in devices such as body wear, wrist wear, and eyewear is likely to gain extraordinary traction for the wearable sensor market in the coming years. Increasing employment of the inertial sensor in user goods is likely to boost inertial sensor segment extremely, boosting the wearable sensor market.
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Legislative Initiatives And Massive Investments To Suffice The Development Of Wearable sensor market In North America
With the biggest share, North America in 2016 was a top area for wearable sensor market. Legislative initiatives and massive investments in wireless technology in nations such as Canada and the U.S. are some of the reasons that might power the development of wearable sensor market in this area. High dependability of wireless technology and in-progress technological enhancements will be the key reasons to drive the requirement for wearable sensor market in Europe. Asia Pacific is believed to be the quickest developing market and is likely to develop with uppermost CAGR due to low price of wearable sensors.
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