The global wearable sensors market size was worth USD 2.65 billion in 2022 and is estimated to grow to USD 7.11 billion by 2030, with a CAGR of approximately 13.10 percent over the forecast years from 2023 to 2030.
Wearable Sensors Market Overview:
A wearable sensor is a technology gadget that people wear to track their health and fitness data. These sensors are embedded into clothing or other fashion items using wired or wireless devices to monitor and diagnose vital indicators including heart rate, blood pressure, and other metabolic activities. Wearable sensors facilitate physiological and biological sensing. The former aids in the identification of numerous neurological, cardiovascular, and pulmonary diseases, including hypertension, asthma, and others, as well as monitors continuing treatment.
The wearable sensor industry is expanding steadily with the development of sensors, wireless communication, power supply, and other technologies. Additionally, the market for wearable sensors is being propelled by technological developments, a rise in the usage of wearable sensors for newborns, and increased home and remote patient monitoring. However, wearable sensors’ high cost, privacy issues, and data integrity restrain the market’s expansion.
Wearable Sensors Market Drivers:
Increased consumer awareness of fitness, increased use in the sports sector, healthcare use, and wearable sensors in defense and security are among the main influencing variables. At the same time, issues like the high cost of wearable sensor devices place restrictions on the market; the variables above collectively present potential for the growth of the wearable sensors market. Remote patient monitoring system sales are growing due to an aging population in Western nations, a rise in the prevalence of lifestyle-related illnesses like diabetes, hypertension, and cardiovascular disease, as well as rising treatment expenses. Additionally, the demand for alternative solutions to deliver better healthcare at reasonable prices is growing as the number of people with chronic conditions rises and healthcare spending as a whole rise.
Wearable Sensors Market Restraints:
Like many other emerging technologies integrated into a single system, wearable devices have hardware and software performance issues that may limit their general adoption. Since sweat and water from washing can damage wearable electronics, consumers frequently have problems with waterproofing. The gadgets’ diminutive size may result in their having small screens and displays as well as constrained power sources. The development of the market for wearable sensors is significantly hampered by the technological complexity of the hardware and software in wearable devices.
Wearable Sensors Market Segmentation:
The global wearable sensors market is segregated based on type, technology, application, vertical, and region.
- Based on type, the market is divided into accelerometers, magnetometers, gyroscopes, inertial sensors, motion sensors, pressure & force sensors, temperature & humidity sensors, microphones & sensors, medical-based sensors, image sensors, touch sensors, and other sensors. Among these, the accelerometers category led the market in 2022 and is expected to maintain its dominance throughout the forecast period. The market’s growing acceptance of wearable technology is linked to the segment’s expansion. Motion sensors with accelerometers provide better performance and more accuracy for monitoring and recording user activities. One of the main factors influencing market traction is the delivery of fitness and wellness-related content utilizing wrist-worn devices with accelerometers. By being able to detect whether a user is stepping or simply shaking their wrist, it may also aid with segment growth.
- Based on verticals, the market is divided into consumer goods, healthcare, industrial and other verticals. The consumer goods category dominated the market in 2021. Sensor-fused devices are in more demand as consumers become more aware of remote health and wellness monitoring. Demand is influenced by a variety of factors, such as the availability of various wearables, the advancement of sensors, and the ability of merchants to provide unique goods. Consumer acceptance of wearables will continue to rule the market during the anticipated time frame. A significant aspect influencing wearables shipment growth in recent years has been the rise in demand for devices that measure fitness, wellness, and lifestyle. Consumer preferences are positively impacting the market for wrist-worn, VR headsets, and smart apparel, therefore providers are attempting to develop and offer the best possible solutions to customers.
Wearable Sensors Market: Regional Landscape
In 2022, North America dominated the market for wearable sensors. Due to its early adoption of digital technology, the United States has been able to represent a larger market share. Another factor that is anticipated to hasten the adoption of wearable sensor-enabled goods throughout the forecast period is the region’s expanding healthcare sector. Population expansion, major health issues among young people, aging, and expanding section of the U.S. population, and these factors together are driving demand for healthcare activity monitoring equipment. Wearable sensors are a crucial component of a wearable device that provides accurate and reliable information on user actions and behavior. By monitoring physiological, physical, and other signs, it can detect activities.
Wearable Sensors Market Competitive Landscape:
Some of the main competitors dominating the global wearable sensors market include:
- Robert Bosch GmbH
- Analog Devices INC
- Infineon Technologies AG
- Intel Corporation
- InvenSense Inc
- Knowles Electronics
- Panasonic Corporation
- Sensirion AG
- General Motors
- Asahi Kasei Corporation
- TE Company LTD.
- November 2020: The verisense inertial measurement unit (IMU) sensor was approved by the Conformitè Europèenne (CE) as a Class I medical device, according to Shimmer Research, a business specializing in wearable technology for research uses.
- September 2020: The industry’s smallest dedicated blood oxygen saturation (SpO2) measurement sensor has been introduced, according to AMS, a provider of high-performance sensor technologies. This sensor will enable remote monitoring of this vital sign in small consumer goods like earbuds, smartwatches, and wristbands, and in medical devices like oximeters and patches.
COVID-19 Impact on Wearable Sensors Market: The recent COVID-19 epidemic has affected the global market for wearable sensors, driven by the growing influence of telemedicine. People should avoid attending group gatherings to comply with social distancing. For this reason, medical professionals use telemedicine to treat patients remotely without risking the virus’s transmission. The emergence of telemedicine and wearable sensor device demand growth and the development of artificial intelligence (AI) integration technologies and its infrastructure to support medical staff.
Global Wearable Sensors Market is segmented as follows:
Wearable Sensors Market by Product Type Outlook (Revenue, USD Million, 2017 – 2030)
- Motion Sensors
- Pressure & Force Sensors
- Temperature & Humidity Sensors
- Microphones & Sensors
- Medical-Based Sensors
- Image Sensors
- Touch Sensors
- Other Sensors
Wearable Sensors Market by Technology Outlook (Revenue, USD Million, 2017 – 2030)
- Other Technologies
Wearable Sensors Market by Application Outlook (Revenue, USD Million, 2017 – 2030)
- Other Application
Wearable Sensors Market by Region Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- The UK
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
|Wearable Sensors Market Report Scope
|Market Size Value in 2022
||USD 2.65 billion
|Revenue Forecast in 2030
||USD 7.11 billion
||CAGR of 13.1 % from 2023 to 2030
|Base Year for Estimation
||2017 – 2022
||2023 – 2030
||Revenue in USD million and CAGR from 2023 to 2030
||Revenue forecast, company ranking, Trends
competitive landscape, and growth factors
||Product Type, Technology, Application, and Region
||North America; Europe; Asia Pacific; Latin America; Middle East & Africa
||U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico and Others
|Key Companies Profiled
||Robert Bosch GmbH, Analog Devices INC, Infineon Technologies AG, Intel Corporation, InvenSense Inc, Knowles Electronics, Google, Panasonic Corporation, Sensirion AG, General Motors, Asahi Kasei Corporation, TE Company LTD, and others