Wearable Sensors Market worth $4.2 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, Aug. 1, 2023 /PRNewswire/ -- The wearable sensors market is projected to grow from USD 1.6 billion in 2023 and is projected to reach USD 4.2 billion by 2028; it is expected to grow at a CAGR of 21.1% from 2023 to 2028 according to a new report by MarketsandMarkets™. The increasing demand shift towards smaller, smarter, and cheaper sensors is an essential driver for the wearable sensors market.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=158101489

Browse in-depth TOC on "Wearable Sensors Market"

121 – Tables
61 – Figures
230 – Pages

Wearable Sensors Market Report Scope:

Cheaper sensors evolve the cost of manufacturing by making it more affordable for manufacturers to integrate them into wearable devices, reducing the overall cost for consumers. Similarly, due to the development of smarter and smaller sensors, they are now capable of collecting more accurate and comprehensive data, and the miniaturization techniques and nanotechnology allow wearable devices to be more discreet, comfortable, and convenient to use.

Consumer vertical to hold the largest share of the wearable sensors market during the forecast period.

The consumer vertical held the largest share of the wearable sensor market in 2022, and a similar trend is expected to be witnessed during the forecast period. The miniaturization of sensor technology is propelling demand for wearable sensors in consumer goods vertically and an increase in consumer demand, coupled with proliferation and enhanced communication protocol. The sensors integrated into wearable devices can provide insight into a user's dynamic behaviour, which comes in handy to both users and service providers alike.

Market for Gyroscopes is expected to witness the fastest growth during the forecast period.

The market for gyroscopes is expected to grow at the highest CAGR during the forecast period. Gyroscopes are used to measure angular velocity, angle, and control mechanisms. A gyroscope consists of a freely rotating disk called a rotor that helps determine the Earth's orientation. They are used mainly in-car navigation, mobile games, digital cameras, and motion sensing. Generally, gyroscopes are helpful in navigation in aerial vehicles and large boats. Growing demand for gyroscopes from the bodywear application is one of the key driving factors for this market. Gyroscopes are embedded in bodywear devices such as headwear displays and smart gloves.

Market for Wrist wear to have largest market size during the forecast period.

The wristwear function is to monitor a customer's health. The benefit of this device is it can be used at home or the workplace to track a person's health. Wristwear is mostly used for fitness, lifestyle, and medical purposes. Wearable devices such as smart bands and smartwatches are sophisticated and fashionable accessories. They can be connected to mobile phones through a variety of apps to display data over the phones.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=158101489

North America to have the largest share of wearable sensors industry during the forecast period.

North America is a major hub for technological innovations and an early adopter of new technologies. Factors such as the presence of major companies in the region, increasing demand for wearable devices (fitness bands and activity trackers), and the growing popularity of devices based on augmented reality (AR) and virtual reality (VR) technologies are driving market growth in the region. In North America, the US is the key market for wearable sensors. With an increasing demand for wristwear/fitness wear and health and wellness monitoring applications has increased the use of wearable sensors in the US.

Key players in the wearable sensors companies include STMicroelectronics (Switzerland); Infineon Technologies (Germany); Knowles Electronics (US); NXP Semiconductors (Netherlands); Texas Instruments (US); TE Connectivity (Switzerland); Broadcom (Switzerland); Analog Devices (US); Panasonic (Japan); and Asahi Kasei (Japan) among others.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=158101489

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Wearable Technology Market Size, Share & Industry Growth Analysis Report by Product (Wristwear, Headwear, Footwear, Fashion & Jewelry, Bodywear), Type (Smart Textile, Non-Textile), Application (Consumer Electronics, Healthcare, Enterprise & Industrial), and Geography - Global Growth Driver and Industry Forecast to 2026

IoT Sensors Market by Sensor Type, Network Technology, Vertical, Application, and Geography - Global Forecast – 2026

Temperature Sensor Market by Product Type (Thermocouples, RTDS, Thermistors, Temperature Sensor ICS, Infrared, and Fiber Optic Temperature Sensors), Output, Connectivity, End-User Industry, & Region - Global Forecast to 2028

Wearable Fitness Technology Market by Product (Smartwatch, Wristband (Bracelet), Shoe, Shirt, Headband), Category (Handwear, Torsowear, Legwear, Headwear), Component (Display, Processor, Memory, Power, Networking, Interface, Sensor) - Global Forecast to 2022

Augmented Reality Market by Device Type (Head-mounted Display, Head-up Display), Offering (Hardware, Software), Application (Consumer, Commercial, Healthcare), Technology, and Geography - Global Forecast to 2026

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/wearable-sensor-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/wearable-sensor.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg 

 

View original content:https://www.prnewswire.co.uk/news-releases/wearable-sensors-market-worth-4-2-billion-by-2028---exclusive-report-by-marketsandmarkets-301890127.html