The wearable sensors market had a value of $1,849.54 million in 2021. and it is projected to rise at the rate of around 17% in the future, to hit $7,455.35 million by 2030, this can be accounted to the growing requirement for wireless devices to monitor or track heart rate, blood pressure, temperature, and growing prevalence of health-related issues.
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| Wearable Sensors Market Size & Share Analysis Report, 2030 |
Accelerometer sensors had the biggest revenue share of 28%, and it is estimated to grow significantly in near future. The growth is because of the sensors in these devices mainly use to track sleep patterns and acceleration of a moving body.
Sensors has evolved from just being conservative sensor devices, with the incorporation of information and communication systems. Furthermore, due to the evolution of cloud services, the data is available in abundance for processing activities. The demand for the wearable sensing and monitoring of the physiological data of patients is estimated to rise in the near future
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The growing elderly population in West and increasing frequency of lifestyle-related illness, like diabetes, hypertension, along with increasing treatment costs, are the main reason behind the hike in sales of such devices.
As the number of people suffering from chronic diseases is rising, the expenditure on treatment is also increasing, therefore these wearable sensor devices are cost efficient, and helps in monitoring their health problems in early stages.
Insufficient sleep is the most common health problem in the U.S., as it can cause many health issues. As people are addressing this issue, this led to the innovation of devices like Fit bug and Fitbit to monitor sleep duration.in the near future, the increasing integration of sensors in consumer electronics for monitoring, and analysing vitals will help remote care with the support of home-based medical data monitoring.
The healthcare sector will show significant growth in the forecast period. This can be credited to the heavy usage of sensors in wearable devices to monitor, water levels of the body, heart rate, blood sugar levels, heart rate, BP and sleep.
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Furthermore, the development of healthcare sector, increasing R&D spending, and growing need of constant monitoring of patients’ such devices will fuel the wearable sensors market around the world.
APAC had the largest revenue share of more than 40% in 2021, this can be credited to the massive urbanization and improving living standards with growing income, acceptance of advanced technology, surging demand for home-based health monitoring, and growing healthcare industry.
As people are becoming more conscious about their health, the demand for wearable sensors will rise in the near future.
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