“Wearable Sensors Market Size, Share – Growth, Trends, And Forecast (2018 – 2023)”: Is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.
The wearable sensors market was valued at USD 7.44 billion in 2017 and is expected to reach a value of USD 24.62 billion by 2023 at a CAGR of 22.07% during the forecast period of 2018-2023.
Major Companies Include are: Stmicroelectronics, Infineon Technologies Ag, Texas Instruments Incorporated, Analog Devices Inc., Invensense Inc., Freescale Semiconductor Inc, Panasonic Corporation, And Nxp Semiconductors N.V., Amongst Other.
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Wearable sensors are highly significant, especially among smart wearable manufacturers, due to the rising health awareness amongst the current generation. In the current scenario, wearable sensors are integrated into garments and fashion accessories, such as hats, wristbands, socks, shoes, eyeglasses, and headphones to suit the user needs. Many gadget and technology providers allocate a wide range of customization to the products in order to attract the younger population.
Increasing Usage in Consumer Electronics to Drive the Market
Wearable sensors are trending in consumer electronics sector extensively. The emergence of cheap wearable fitness trackers has increased the consumption of wearable sensors immensely. In some cases, multiple wearable sensors are embedded into a single gadget. The strong demand for multipurpose gadgets that can monitor more than one vitals has boosted the sales of fitness trackers and wearable sensors all over the globe in the past four years.
With the entrance of key players, such as Apple, Samsung, and Microsoft into the wearables technology, the demand for wearable sensors in the consumer electronics sector have multiplied rapidly dedicated to the strong demand from young customers. Fitbit, one of the major players for wearable technology in the market, stands to be an excellent example of the trend of increasing demand for fitness trackers. In the past four years, the number of units sold by the company grew by more than 40%. This trend is expected to prevail over the forecast period increasing the scope of wearable sensors market.
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Pressure Sensors are Increasingly Becoming Popular
In the wearables industry, pressure sensors are gaining traction, due to its miniaturization factor. Sensing muscle activity helps sportsmen train specific muscles and further, gives feedback about the performance quality of exercises, for rehabilitation. Also, pressure sensing shoes are being used in motion capture technologies, which has transformed computer animation, during the past decade. Direct transfer of data is possible using detailed motion data and editing algorithms. Further, leading to an expressive performance of a real person to a virtual character, composing simple motion clips to create a repertoire of motor skills, or interpolating existing data to produce new sequences.
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Key Developments in the Wearable Sensors Market: –
February 2018 – Texas Instruments has introduced the smallest operational amplifier (op amp) and low-power comparators at 0.64 mm2. As the first amplifiers in the compact X2SON package, the TLV9061 op amp and TLV7011 family of comparators are expected to help, the wearable tech designers to reduce their system size and cost while maintaining high performance.
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