Wearable Sensors Market Size Worth USD 11.05 Billion in 2032 | Emergen Research

Vancouver, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The global wearable sensors market size was USD 3.41 Billion in 2022 and is expected to register a revenue CAGR of 12.5% during the forecast period. Increasing health and fitness awareness among people, advancements in microelectronics & sensor manufacturing adopted by leading organizations in this industry, miniaturization trend in sensor manufacturing, and mounting benefits of wearable devices in the healthcare sector are some of the major factors driving the market revenue growth.

A wearable sensor is a device worn by individuals to monitor and track health and fitness information. These sensors can be incorporated into clothing or accessories and use wired or wireless technology to measure vital signs such as heart rate, blood pressure, and other metabolic activities. The wearable sensors market revenue growth is driven by factors such as increasing health and fitness awareness, growing acceptance of wearable devices, and rising demand for smart wearables in developing countries. The rise in chronic diseases, particularly among elderly population, is leading to development of remote patient management systems, driven by need for cost-effective healthcare solutions.

The healthcare sector has witnessed the acceptance of various wearable devices, contributing to market revenue growth. In addition, factors such as constant surveillance, government funding, and increasing healthcare research and spending is further driving revenue growth of the market. For instance, in June 2023, a team of researchers at the University of Hawaii showcased a novel sweat collector created using 3D printing techniques, which could contribute to the development of affordable body-sensing solutions. The field of wearable biosensors is rapidly advancing and holds potential to transform healthcare and wellness.

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However, lack of common standards and interoperability issues can act as a major restraining factor to the market revenue growth. The absence of common standards for sensor communication can result in interoperability challenges. Interoperability and smooth information exchange among connected devices are crucial for continued expansion of the wearable ecosystem. By implementing standardized communication protocols, wearable devices can effectively communicate with each other and integrate with other systems, enabling seamless data exchange and interoperability.

Segment Insights

Type Insights:

On the basis of type, the global wearable sensors market is segmented into accelerometers, magnetometers, gyroscopes, inertial sensors, motion sensors, pressure sensors, force sensors, temperature sensors, humidity sensors, microphones & micro speakers, medical-based sensors, image sensors, touch sensors, and others. The accelerometer segment accounted for a significantly large revenue share in 2022 and is expected to register a rapid revenue CAGR over the forecast period. Accelerometers have been widely accepted as useful and practical sensors for wearable devices to measure and assess physical activity.

Technology Insights:

On the basis of technology, the global wearable sensors market is segmented into Micro-Electromechanical Systems (MEMS), Complementary Metal-Oxide Semiconductor (CMOS), and others. The MEMS segment accounted for largest revenue share in 2022. Small size, higher accuracy, and reliability make this sensor a good fit for wearable devices. Major market players are investing heavily in this technology which is expected to drive revenue growth of the market. For instance, in November 2020, STMicroelectronics strengthened its position as a frontrunner in sensor technology by creating inventive software solutions in collaboration with Qualcomm through the Qualcomm Platform Solutions Ecosystem program.

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Regional Insights:

Based on regional analysis, the market in North America accounted for largest revenue share in the global wearable sensors market in 2022 owing to the presence of major market players, technological advancements, high disposable incomes, and advanced healthcare industry among other factors. For instance, in June 2023, researchers from U.S.-based Penn State University devised an inexpensive wearable sensor using pencil-on-paper technology. By depositing graphite on paper treated with sodium chloride, they have created a sensor with ability to measure diverse health information, including gas molecules, temperature, and electrical signals.

The market in Europe accounted for a significantly large revenue share in 2022 owing to advanced healthcare sector, higher disposable incomes, advancements in sensor manufacturing, awareness among consumers, and presence of major market players. Major market players are investing heavily in Research and Development (R&D) and sensor manufacturing. Significant collaboration and launch of more advanced products are expected to create a high demand for wearable sensors in this region. For instance, in August 2022, Fitbit introduced irregular heart rate notifications in Europe.

Scope of Research

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Major Companies and Competitive Landscape

The global wearable sensors market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective products. Some of the major companies included in the global wearable sensors market report are:

• Asahi Kasei Microdevices Corporation.
• Analog Devices, Inc.
• Broadcom
• NXP Semiconductors
• Infineon Technologies AG
• InvenSense
• Knowles Electronics, LLC.
• Sensorion AG
• Murata Manufacturing Co., Ltd.
• Panasonic Corporation
• VMC Technologies Pvt Ltd
• Robert Bosch GmbH
• STMicroelectronics
• Texas Instruments Incorporated.
• Intel Corporation
• ams-OSRAM AG
• Samsung
• Rockley Photonics
• Google
• Hon Hai Precision Industry Co., Ltd. (Foxconn)
• Garmin Ltd.

Strategic Development

• On January 06, 2023, ams OSRAM, a prominent global provider of optical solutions, expanded its Mira family of pipelined, high-sensitivity, global shutter CMOS image sensors with the introduction of the Mira050. With dimensions of 2.3mm x 2.8mm and a resolution of 0.5Mpixel, the Mira050 offers exceptional sensitivity to both visible and Near-Infrared (NIR) light. This feature allows design engineers to optimize space and power efficiency in wearable and mobile devices. By incorporating the Mira050 image sensor, engineers can enhance the performance and capabilities of their devices in these applications.
• On February 06, 2023, 221e srl announced the expansion of its partnership with STMicroelectronics. The collaboration now encompasses the latest product offerings from both companies. Through this extended cooperation, 221e's AI-based sensing software can be integrated with ST's cutting-edge microcontrollers and intelligent sensors. This integration aims to enhance artificial intelligence solutions for industries such as wearables, IoT, and automotive.

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For the purpose of this report, Emergen Research has segmented the global wearable sensors market on the basis of type, technology, applications, end-use, and region:

• Type Outlook (Revenue, USD Billion; 2019-2032)
  • Accelerometers
    1. Mems Accelerometer
    2. Piezoelectric Accelerometer
    3. Piezoresistive Accelerometer
    4. Others
  • Magnetometers
    1. Mems
    2. Magneto Resistive
    3. Magneto Inductive
    4. Others
  • Gyroscopes
    1. Mems Gyroscope
    2. Ring Laser Gyroscope (RLG)
    3. Fibre-Optic Gyroscope (FOG)
    4. Others
  • Inertial Sensors
  • Motion Sensors
  • Pressure Sensors
    1. Piezoresistive
    2. Capacitive
    3. Resonant Solid-State
    4. Electromagnetic
    5. Others
  • Force Sensors
    1. Piezoelectric
    2. Strain Gauge
    3. Load Cell
    4. Capacitive
    5. Others
  • Temperature Sensor
    1. Contact-Type Temperature Sensor
    2. Noncontact-Type Temperature Sensor
  • Humidity Sensors
    1. Capacitive
    2. Resistive
    3. Thermal
  • Microphones & Micro speakers
  • Medical-Based Sensors
  • Blood Oxygen Sensors
    1. Blood Glucose Sensors
    2. Blood Flow Sensors
    3. ECG Sensors
    4. Heart Rate Sensors
    5. Hall Effect Sensors
  • Image Sensors
    1. Complementary Metal-Oxide-Semiconductor (CMOS)
    2. Charge-Coupled Device (CCD)
    3. Others
  • Touch Sensor
    1. Resistive
    2. Capacitive
    3. Infrared
    4. Surface Acoustic Wave
    5. Optical
  • Others
    1. Position Sensors
    2. CO2 Sensors (Gas Sensors & Chemical Sensors)
    3. Light Sensors
• Technology Outlook (Revenue, USD Billion; 2019-2032)
  • MEMS
    1. Role of Very Large-Scale Integration technology (VLSI)
    2. Relevance of Nanoelectromechanical System (NEMS)
  • CMOS
  • Others
    1. Microsystems Technology (MST)
    2. Optical Spectroscopy
    3. Application-Specific Integrated Circuit (ASIC)
• Applications Outlook (Revenue, USD Billion; 2019-2032)
  • Smart Wristwear
    1. Smart Wrist-Wearable Brands/Watches
    2. Smart Wrist-Wearable Bracelets
  • Eyewear
  • Smart Footwear
  • Smart Neckwear
    1. Ties & Collars
    2. Ornaments & Jewellery
    3. Bodywear
    4. Smart Clothing & Inner-Wear
    5. Arm & Legwear
    6. Smart Shocks
    7. Body-Worn Cameras
    8. Chest Straps
  • Others
    1. Ring Scanner/Wear
    2. Smart Headsets/Head Bands
    3. Earwear
• End-Use Outlook (Revenue, USD Billion; 2019-2032)
  • Consumer
    1. Fitness & Sports
       • Infotainment and Multimedia
    2. Garments and Fashion
  • Healthcare
    1. Clinical Applications
    2. Non-Clinical Applications
  • Industrial
    1. Logistics Applications
    2. Packaging & Wearhouse Applications
    3. Chemical
    4. Petroleum
    5. Others
  • Others
• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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