The global wearable sensors market is anticipated to reach $2.86 billion by 2025, growing at a CAGR of 38.8%, according to a report by Grand View Research, Inc. Much of the growth will be driven by health and fitness monitoring.
According to the study, the smart watch segment is anticipated to exhibit the highest CAGR during the forecast period, reaching $1.08 billion by 2025. Grand View Research attributes the growth of the segment to capabilities in monitoring and rendering a comprehensive analysis of user activities.
Not surprisingly, the consumer wearable segment is expected to remain dominant, accounting for over $1.2 billion in revenue by 2025. Fitness tracking will continue to be a key driver in consumer wearables.
Regionally, Asia Pacific is expected to be the fastest-growing region over the forecast period. Numerous enterprises and several new players within China and Japan have been investing in advanced sensor manufacturing. The regional market is expected to exhibit a CAGR of 41.0% over the forecast period
According to the report, key players in the wearable sensors market include Robert Bosh GmbH, STMicroelectronics N.V., NXP Semiconductors N.V., Texas Instruments and Knowles Electronics, LLC.