NEW DELHI: A research study titled, “Wearable Sensors Market by Type and Application Vertical – Global Industry Analysis and Forecast to 2025,” published by Crystal Market Research, states that the wearable sensors market is projected to be around $4 billion by 2025.
The research has elucidated that recent advancements in sensor manufacturing, microelectronics, nanotechnology, telecommunication, miniaturization and data analysis techniques have opened up new avenues for wearable technology in the digital health ecosystem enabling a range of improved health outcomes.
In the past, the size of front-end electronics and sensors made it difficult to use them in wearable tech to gather movement and physiological data. With the advent of miniature circuits, front-end amplification and microcontroller functions, wearable sensors are being largely deployed in digital health monitoring systems. Sensors and wearables together allow continuous physiological monitoring with minimal manual intervention and at a significantly low cost. Such sensors can be easily integrated into a wide range of accessories such as hats, garments, wrist bands, shoes, socks, eyeglasses and other devices such as wristwatches, smartphones and headphones.
With the advancements in cloud computing, various wearable sensor devices can be easily upgraded without the need for users to install software in their monitoring devices which makes it cheaper and easier to maintain the functioning of these devices, explains the snippet about the extensive report.
Crystals’ research points that wearable technology is touted to replace smartphones in the near future as they promise more convenient way of communication in day to day life. Increasing research and development activities focused on utilizing sensor-based wearable technology for logistics, manufacturing and military and security applications will largely contribute to the future growth of wearable sensors market. However, factors such as security concerns related to data security and rising need and demand for device integrations leading to interoperability issues can hamper the market growth, says the report.
Throwing an overview of the emerging markets, the research has identified that US held a major share of the North American wearable sensors market due to large scale adoption of technologically enhanced wearable devices enabled by high disposable income of the population.
Emerging economies such as China and India are expected to witness favorable growth owing to increasing penetration of smart devices such as tablets and smart phones.
Product development and innovation is the key strategy followed by the major players operating in the wireless sensors market in order to outperform their competitors and offer innovative wearable devices to the consumers.
Broadly, the research has identified that Asia-Pacific wearable sensors market is expected to witness significant growth during the forecast period owing to increasing adoption of smart devices such as smartphones in the region.