Smart Wearable Fitness Devices Sensors Market is Expected to Register a Considerable Growth by 2026
The Smart Wearable Fitness Devices Sensors Market is segmented by Type (Temperature Sensor, Pressure Sensor, Speed Sensor, Gas Sensor, Other), Application (Children, Adults, The Elderly), and Region (North America, Europe, Asia-Pacific, and the Rest of the World). The historic years considered for the study are 2016-2019, the base year is 2020, and the forecast period is 2021-2026.
What is a wearable sensor?
Wearable sensors can be defined as sensors that are integrated into wearable objects or directly with the body to monitor the health of the patients and provide relevant data for care. These smart wearable fitness device sensors can be categorized as temperature sensors, pressure sensors, speed sensors, gas sensors, and others.
Key players operating in the Smart Wearable Fitness Devices Sensors market are-
Honeywell International Inc. (US)
Abbott Laboratories (US)
Medtronic plc (Ireland)
Omron Corporation (Japan)
Acute Technologies & Solutions (India)
F. Hoffmann-La Roche AG (Switzerland)
Johnson & Johnson (US)
GE Healthcare (US)
Adidas AG (Germany)
Analog Devices, Inc. (US)
Bayer AG (Germany)
Fujitsu Limited (Japan)
Koninklijke Philips N.V. (Netherlands)
Robert Bosch GmbH (Germany)
LifeScan, Inc. (US).
The growth of the smart wearable fitness devices sensors market is primarily driven by the increasing demand for wearable sensors to continuously monitor the health of the wearer. Rising fitness consciousness among consumers particularly millennials is likely to drive the growth of the smart wearable fitness devices sensors market at a significant rate during the review period. In addition to this, increasing investment in R&D activities to develop new products is likely to create lucrative opportunities for the players operating in the global market in the coming years.
The smart wearable fitness devices sensors market has been bifurcated into children, adults, the elderly. Under these, the adults' segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to the high product adoption rate among adults.
The market in North America accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth can be attributed to the high adoption rate of advanced products among consumers coupled with the presence of key market players such as Honeywell International Inc. (US) and Abbott Laboratories (US). The market growth in the Asia-Pacific region is expected to be driven by increasing demand for wearable devices in developing countries, particularly China and India.
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