According to a report issued by Vision Research Reports, the global wearable sensor market was valued at $123 million in 2015 and is projected to reach $2,258 million by 2022, growing at a CAGR of 52.9% from 2016 to 2022. Market advancement is attributed to advancements in sensor technology, wireless communication devices/technology, power supply technology, and others.
- In the healthcare sector, wearable sensors are mostly used in remote monitoring systems.
- Accelerometer segment was valued at USD 32.3 million in 2016 and is anticipated to exhibit the highest CAGR of 43.6% over the forecast period.
- Optical segment is anticipated to expand at a healthy CAGR of 38.0% by 2025.
- Fitness band segment expected to expand at a significant CAGR of 39.5% over the forecast period.
- Consumer segment is anticipated to exhibit a high CAGR of 41.4% over period 2018 – 2025.
- APAC market was valued at $47.1 million in 2016 and is anticipated to register the highest CAGR over the forecast period.
- North America region is anticipated to continue its dominance over the forecast period.
- Key players in the market include NXP Semiconductors N.V., Robert Bosh GmbH, Texas Instruments, STMicroelectronics N.V., and Knowles Electronics, LLC. Robert Bosh GmbH accounts for a major share in the global market.