Wearable Sensors Market

Global Wearable Sensors Market Size (2024 to 2029)

The global wearable sensors market size is expected to be worth USD 1.70 Billion in 2024. It is expected to grow at a CAGR of 19.15% during the forecast period and reach a value of USD 4.08 Billion by 2029.

The next generation of wearable sensors has the potential to revolutionize diagnosis by providing high-quality and time-resolved past recordings of a person's health. These sensors allow for the multimodal and/or multiplexed measurement of physical parameters and biological indicators in real time and continuously. In addition to this, modern quantum sensors that monitor brain activity could fundamentally alter our knowledge of how people react to aging, mobility, food, sleep, and other factors. Helmets with very sensitive quantum magnetic field sensors, which are more comfortable and adaptable than standard scanners, are on the verge of commercialization.

Global Wearable Sensors Market Drivers:

The rising popularity of affordable, more sophisticated, and smaller sensors is driving the global wearable sensors market. The market for inexpensive and tiny sensors that integrate smart technology is growing because of the growing need for smart platforms like M2M and IoT. Due to these systems and the technological advancements in smart mobile devices like smartphones and tablets, the price of sensors has decreased, and the number of new, straightforward, and user-friendly next-generation sensors has expanded. Furthermore, one of the primary reasons for the market growth is the substantial decrease in the size of sensors, including pressure, level, and image sensors, in the past ten years, which has been attributed to significant technological advancements.

Rural medical clinics without remote monitoring systems are using motion sensors. Continuous monitoring or tracking of body functions is now simple and more economical due to wearable sensors. These sensors improve information collection and exchange about their surroundings in addition to supporting navigation. In today's market, wearable sensors can be found in many different gadgets, such as watches, headgear, sunglasses, phones, shoes, clothes, and headphones. All these factors are elevating the share of the global wearable sensor market.

Global Wearable Sensors Market Restraints:

Factors such as user acceptance, security ethics, and big data concerns are derailing the growth of the global wearable sensors market. Although user preferences are important, wearable sensors are a new technology with limitations in clinical application, incorrect information, security threats, and a lack of high-quality studies. Another factor causing interoperability problems in sensor communication is the absence of established protocols. For the wearable ecosystem to continue expanding, interoperability and simple information sharing across linked devices are essential. Right now, there is a lack of universal standards or architectural solutions to address the interoperability problem in the wearable technology market and technology landscape.

Breakthrough applications of wearable electronics are one of the major challenges faced by the global wearable sensor market. Modern wearable electronics face difficulty in finding universal applications, as their growth in the future depends on new applications related to personal requirements, wellness, and health. Another factor limiting the growth of the market is the reduction of user effort and the incorporation of products that are worn daily. Wearable device illustrations often depict individuals with various body parts, posing an unrealistic user burden and making it unfeasible. Furthermore, the smooth integration of wearable electronics into items of clothing, accessories, footwear, and textiles for daily use is a difficulty.

Impact of COVID-19 on the global wearable sensors market:

COVID-19 had a significant impact on the global wearable sensor market, emphasizing how using digital infrastructure is essential for remote patient monitoring. People wear various wearable technologies these days, including smart contact lenses, smart rings, smart shoes, fitness trackers, and more. The COVID-19 pandemic had a negative effect on the supply and distribution of the wearable sensor. It increased the demand for different types of sensors like temperature sensors, pulse oximeters, respiratory rate sensors, cough and lung sound monitoring, electrocardiogram, and blood pressure monitoring. Furthermore, researchers found that combining wearables with AI can produce positive outcomes after COVID-19. This resulted in the expansion of the market share of wearable sensors worldwide.

REPORT COVERAGE:

This research report on the global wearable sensors market has been segmented and sub-segmented based on the type, application, technology, vertical & region.

Global Wearable Sensors Market – By Type:

• Accelerometers
• Magnetometers
• Gyroscopes
• Inertial Sensors
• Motion Sensors
• Pressure & Force Sensors
• Temperature and Humidity Sensors
• Medical-based Sensors
• Image Sensors
• Touch Sensors

The accelerometers segment is expected to have the maximum share of the global wearable sensors market in the coming years. The growing popularity of wearable technology in the market is related to the segment's expansion. Accelerometer sensors for motion detection improve user activity tracking and monitoring while also increasing productivity. Providing fitness and wellness-related data via accelerometer-equipped wrist-worn gadgets is a major driver of market growth.

Global Wearable Sensors Market - By Technology:

• MEMS
• CMOS

The MEMS segment under this category is expected to grow at a faster pace in the coming years. Although MEMS sensors have been around for a while, technological advancements are driving the market demand for new uses. MEMS sensors are a suitable fit for wearable technology because of their tiny size, precision, and dependability. For example, barometric pressure sensors are perfect for integrating into earbuds, watches, fitness bands, and smartphones to provide fitness characteristics that can identify whether you are walking on a level surface, an inclination, or stairs.

Global Wearable Sensors Market – By Application:

• Wristwear
• Glasses
• Bodywear
• Footwear
• Neckwear

The bodywear segment is expected to expand at a higher CAGR during the forecast period. Bodywear is a trend that involves textiles with embedded sensors. The work is based on fibertronics, which refers to the integration of electronics and computational functionality into textile fabrics. The incorporation of electronics and sensors in techno-fashion clothing has grown more popular. This is because it provides the ability to measure different fitness and health metrics. Clothes, undergarments, arm and leg gear, dress socks, and chest straps are all considered bodywear.

Global Wearable Sensors Market – By Vertical:

• Consumer
• Healthcare
• Defense
• Industrial

The consumer segment is estimated to be the leading segment under this category during the forecast period. Sensor-fused devices are becoming increasingly popular as consumers consider the benefits of remote wellness and fitness monitoring. Demand is driven by many factors, such as the availability of different wearables, technological developments, and suppliers' ability to provide unique products. Wearable device utilization will continue to dominate the market in the coming years. Demand for wearable sensors that measure fitness, well-being, and lifestyle has been a major factor in boosting the wearables sensor market. The market value is moving forward because of consumer preferences for smart clothing and VR headsets that can be worn on the wrist, and suppliers are striving to innovate and provide the finest products to clients.

Global Wearable Sensors Market – By Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

The North American global wearable sensors market is the biggest and holds a significant market. The growing awareness about fitness and health, where wearable sensors are a major factor, will cause the market to grow in this region. Also, because of research and development expenditures, the cost of the components needed to make wearable sensors has decreased, which contributes to the wearable device's affordability. Wearable sensors are expanding rapidly in North America due to rising demand across various industries, including fitness, healthcare, and security.

Europe's global wearable sensors market will continue to propel further during the forecast period. Wearable sensors are used in various industries in Europe, including travel, sports and fitness, healthcare, and defense. The military has employed these sensors for several purposes, including heads-up displays. In the entertainment sector, these sensors are being used in flight simulators, video games, and movie theatres. Furthermore, wearable sensor technology has been widely accepted by UK consumers for fitness tracking and is becoming an increasingly popular wrist accessory.

Asia Pacific wearable sensors market is the fastest growing market and is anticipated to expand further during the forecast period. The market is propelled forward by several factors, like growing per capita income in developing nations, a rise in technological developments, and the ease of use and interpretation of medical devices. Due to the rising incidence of lifestyle diseases such as obesity, stroke, type 2 diabetes, heart disease, and atherosclerosis, people in the region are paying more attention to their health. As a result, fitness centers and gyms are growing in the region, which is driving up the demand for wearable medical technology.

Latin America's wearable sensors market is projected to register a steady growth rate in the future. The market is driven by the increasing awareness of fitness and health. Wearable gadgets are becoming more affordable due to the declining cost of manufacturing wearable sensors. Additionally, the increasing adoption of mobile devices and the evolving digital ecosystem in the region both support wearable growth. For example, the GSMA predicts that by 2025, there will be 424 million mobile devices in Latin America.

The Middle East and African wearable sensors market is expected to grow at a higher CAGR during the forecast period. Smart wristbands, smartwatches, fitness trackers, virtual reality headsets, activity trackers, sports watches, healthcare applications, and enterprise and industrial applications are all becoming more common as disposable income.

KEY MARKET PLAYERS:

The Major Players in the Wearable Sensors Market are Adidas AG, Business Description, Products/Services, Financials, SWOT Analysis, Analog Devices, Inc., Google, Inc., Infineon Technologies AG, Intel Inc., InvenSense Inc., Panasonic Corporation, STMicroelectronics, Texas Instruments Incorporated, Asahi Kasei Corporation

RECENT HAPPENINGS IN THE MARKET:

• In November 2023, DuPont launched DuPont Liveo Healthcare Solutions and teamed up with STMicroelectronics to develop a new smart wearable device concept for remote biosignal monitoring.
• In October 2023, Adidas AG, in partnership with Infineon Technologies AG, introduced the Infineon Lighting Shoe, which is a new prototype combining both modern sensor technology and fashion. It is fitted with high-quality XENSIV MEMS microphones to detect the faintest sound waves. It also features a USB-C port for power.