New York, US, Aug. 12, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Body Area Network Market information by Device, Technology, Application and Region – forecast to 2027” the market is expected to grow from USD 9.09 Billion in 2018 to USD 21 Billion by 2025, at a CAGR of 13%.
Body Area Network Market Scope:
Body area network or BAN, also popularly known as wireless body area network (WBAN), or body sensor network (BSN), is a network which connects the wearable computing devices wirelessly. These devices are embedded as implants inside the body and can be surface mounted as well on the body.
Dominant Key Players on Body Area Network Market Covered Are:
- Sony Corporation (Japan)
- Matrix Industries (US)
- Huami Corporation (China)
- Abbott Laboratories (US)
- AsusTek Computer Inc. (Taiwan)
- Withings (France)
- Suunto Oy (Finland)
- GOQii (US)
- Mobvoi Information Technology Company Limited (China)
- Polar Electro Oy (Finland)
- Bragi (Germany)
- Medtronic plc (US)
- LG Electronics Inc. (South Korea)
- Casio Computer Co., Ltd. (Japan)
- Huawei Technologies Co., Ltd. (China)
- Xiaomi Corporation (China)
- Fossil Group, Inc. (US)
- Garmin Ltd. (US)
- Samsung Electronics Co., Ltd (South Korea)
- Fitbit (US)
- Apple Inc.(US)
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Market Drivers:
Alluring Features that Boost Market Growth
According to the MRFR report, there are numerous factors that are propelling the global body area network market share. Some of these entail the growing use of smart devices for tracking physical fitness, availability at low-cost, supportive government and hospital initiatives for promoting digital healthcare, rapid advances in communication technologies and medical devices, decreasing cost of smart devices such as smartwatch, fitness tracker, and others, easy availability of fitness tracking gadgets, growing demand from the healthcare sector, and growing inclination towards the use of wearable solutions and e-health.
On the contrary, rising data security concerns, strict rules and regulations, noise-interference issues, and lack of infrastructure may limit the global body area network market growth over the forecast period.
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Segmentation of Market Covered in the Research:
The MRFR report highlights an inclusive analysis of the global body area network market based on application, technology, and device.
By device, the global body area network market is segmented into implantable and wearable devices. Wearable devices are again segmented into smart earphones, smartwatches, and smart bands. Of these, the wearable devices segment will lead the market over the forecast period for the constant advances in the field of wearable technologies.
By technology, the global body area network market is segmented into Wi-Fi, Zigbee, Bluetooth low energy (BLE), and others. Of these, the BLE segment will dominate the market over the forecast period as it introduces more suitable choice for BAN applications where less power consumption is possible using low duty cycle operation.
By application, the global body area network market is segmented into military, security, sports, medical and fitness, and others. Of these, the medical and fitness segment will spearhead the market over the forecast period as BAN entails several medical applications for improving the quality of life of people and satisfying many requirements of senior citizens by allowing them to live securely, safely, and independently.
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Regional Analysis
North America to Steer Body Area Network Market
Geographically, the global body area network market is bifurcated into Europe, North America, South America, the Asia Pacific, as well as the Middle East and Africa (MEA). Among these, North America will steer the market over the forecast period. Increasing adoption of smart wearable devices such as smartwatches, smart bands, implantable devices, and fitness trackers, growing prevalence of lifestyle-related disorders and chronic diseases, rising healthcare costs, surging need for better healthcare services, rising government initiatives for promoting digital health records, rising penetration of 4G and 3G networks, growing awareness about self-health management, and early penetration of BANs are adding to the global body area network market growth in the region.
Europe to Hold Second-Largest Share in Body Area Network Market
In Europe, the global body area network market is predicted to hold the second-largest share over the forecast period. Rising elderly population coupled with the need for wearable devices for health issue monitoring are adding to the global body area network market growth in the region.
APAC to Have Promising Growth in Body Area Network Market
In the APAC region, the global body area network market is predicted to have promising growth over the forecast period. Development of wireless technologies in the region, undergoing modernization, adoption of new technology-advanced medical devices, the presence of leading wearable device manufacturers, rising healthcare costs, rising error occurrence, increasing need for better healthcare services that have made it imperative for healthcare organizations in integrating medical diagnosis apps and medical devices, growing government initiatives in promoting curation in the likes of digital health records, the demand for better health-related services, significant increase in the healthcare expenditure in China, rising rate of aging population, and collaborative initiatives by industry players and Chinese government are adding to the global body area network market growth in the region. South Korea and Japan have the utmost market share.
In the MEA and South America, the global body area network market is predicted to have sound growth over the forecast period.
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COVID-19 Impact on the Global Body Area Network Market
At the time of the COVID-19 crisis, body area networks are used for monitoring patients and delivering proper medical services because these help to measure the vital signs of the patient and also detect fear, stress, and other conditions. They also offer information about the real-time conditions of the patient to healthcare professionals. All this is adding market growth. Also the rise in the adoption of wearable devices like smartwatches, fitness trackers, and smart glasses are also fuelling market growth. On the contrary, the halt in the new wearable devices’ production owing to temporary closure of manufacturing plants is impeding market growth. Companies are focused to reduce operational costs in order to survive in the market. The manufacturing of new wearable devices during the post-lockdown period will fuel market growth.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
