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Wearable Temperature Sensors Markets, 2024 - Market is Expected to Register a CAGR of 8.30%
DUBLIN, June 21, 2019 /PRNewswire/ -- The "Wearable Temperature Sensors Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The wearable temperature sensors market is expected to register a CAGR of 8.30%, during the forecast period 2019 - 2024
The increasing trend of smart living and rising number of connected devices is expected to enhance the wearable temperature sensors market.
- Wearable temperature sensors can continuously monitor various health aspects namely the heart rate, body temperature, and pulse rate. Enhanced awareness regarding fitness and health in the people of all the age groups is driving the growth for body-worn temperature sensors.
- Further, the advent of new and advanced wearable devices such as smarter, smaller, and low-cost sensors and the rising adoption of artificial intelligence along with the Internet of Things is further estimated to ensure the growth of the global wearable sensor market which in return will create a positive outlook for wearable temperature sensors market throughout the forecast period.
- However, the high cost of wearable sensors coupled with privacy concerns, and data integrity are some of the factors which might hamper the wearable sensors market growth during the forecast period.
Scope of the Report
Wearable sensors have gained healthy popularity in the healthcare and diagnosis industry where several parameters are of vital importance namely blood pressure, heart rate, and body temperature. In the current scenario, there is the availability of different types of wearable sensors such as sleep sensors, smart watches, wearable patches, hand worn terminals and smart clothing and among others. The increasing geriatric population and the rising number of advantages of wearable devices, especially in the healthcare segment are projected to accelerate the development of the market throughout the forecast period.
Key Market Trends
Smart Watches Have Significant Growth
- Wearable temperature sensor products vary from in-the-ear to bio-stickers that can be worn on the skin for people of all age groups. With the onset of technologies such as advanced patient monitoring systems and portable health monitoring systems, demand for temperature sensors is on the rise.
- Smart watches have taken the world of wearable technology by storm due to owing features such as human comfort, convenience, security and for monitoring health conditions. As a result, smartwatches are receiving greater attention because of their facile interaction with the human body, such as monitoring heart rate, wrist pulse, motion, blood pressure, intraocular pressure, and other health-related conditions.
- In addition, real-time monitoring of body temperature is crucial for recognizing sudden adverse occurrences, such as heart attacks. Furthermore, temperature monitoring is important where physical activity is directly concerned with their accomplishment. And thus, smartwatches fulfill all these requirements which help in creating a market for smartwatches.
- For instance, in September 2018, Apple announced a new series of Apple Watch 4 Series which helped women track their ovulation cycle by reading their basal body temperature, which is an indicator of fertility. The integration of these sensors to a smartphone app gives the user a better understanding of the probability of conceiving and speeding-up the chances of getting pregnant.
- Moreover, Apple Inc is a pioneer in consumer electronic segments and owns the largest market share, therefore, the above factors are expected to boost the Apples' smartwatch industry which in return will help in booming the wearable temperature sensors market.
Asia-Pacific to Witness the Fastest Growth
- Asia-Pacific is expected to witness the fastest growth because of the presence of two highly populated countries i.e. China and India. In these two countries, the increase in disposable income will act as a supplement for the growth of the wearable temperature sensors market.
- With the increasing smartphone sales in Asia-Pacific, it is evident that cellphones have become an integral part of life for many peoples residing here. Moreover, advancements in technologies have been encouraging the wearable manufacturers to come up with innovative ideas to embed the sensors into smartwatches and monitor the changes using Android and iOS apps. Thus, the rising trend of the smart wearable and is expected to make these countries key revenue pockets for this market.
- Moreover, cheap products launched in China and India coupled with the rising pool of chronic diseases like obesity and diabetes are also the major factors in the development of this market.
The competitive landscape of the wearable temperature sensors market shows the market fragmentation. Some of the global key players in this market are Infineon Technologies AG, Panasonic Corporation, Texas Instruments Inc., STMicroelectronics N.V. Product launch, acquisition, and partnership are some of the key strategies adopted by market players operating in the wearable sensors industry. Some of the recent developments are:
- September 2018 - Maxim Integrated Products, Inc. unveiled its Health Sensor Platform 2.0 (HSP 2.0) to create wearable solutions that enabled the monitoring of various health parameters including electrocardiogram (ECG), heart rate, and temperature monitoring. The data collected by the HSP 2.0 can be owned by the wearer, alleviating data privacy concerns and allowing users to conduct their own data analysis. Data is stored on the platform for patient evaluation or streamed to a PC for analysis.
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increasing Health Awareness Among all Age Groups
4.3.2 Rising Growth Towards Advanced Functions Sensors in Smart Gadgets
4.4 Market Restraints
4.4.1 High Product Cost
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Application
5.1.1 Body Wear
5.1.2 Eye Wear
5.1.3 Foot Wear
5.1.4 Wrist Wear
5.1.5 Others Application
5.2 By End-user Vertical
5.2.2 Consumer Applications
5.2.5 Entertainment & Media
5.2.6 Public Utilities
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Panasonic Corporation
6.1.2 Maxim Integrated
6.1.4 Texas Instruments Inc
6.1.5 Infineon Technologies AG
6.1.6 Freescale Semiconductor Inc
6.1.7 Measurement Specialties Inc
6.1.8 General Dynamics Corporation
6.1.9 Analog Devices Inc
6.1.10 ABB Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 INVESTMENT OUTLOOK
For more information about this report visit https://www.researchandmarkets.com/r/6xffqn
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