Dublin, Feb. 17, 2021 (GLOBE NEWSWIRE) -- The "Wearable Motion Sensors Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The wearable motion sensors market was valued at USD 27.13 million in 2020 and is expected to reach USD 1252.12 billion by 2026, at a CAGR of 47.2% over the forecast period (2021 - 2026). The market is expected to witness significant growth with the advancements in wireless communication devices, sensor technology, power supply technology, and others.
Motion sensors, such as accelerometers, gyroscopes, MEMS, and the combination of these sensors are the most used type of sensors, incorporated in wearables. Furthermore, health tracking wearables may always integrate motion and MEMS sensors, but are not limited to and can also add health-specific sensors, like pulse monitors, heart rate monitors, and skin temperature sensors.
With the ongoing miniaturization of sensors and related components, rising growth toward the advanced function sensors in smart wearables, improvement in the battery sizes, and efficiency are the key drivers, which are boosting the wearable motion sensors market.
Sensors are an important component in wearable devices used by consumers, owing to the increased focus of consumers on tracking real-time motion sensing activities, such as step counting, walking distance covered, and this generated data analysis provides users with specific results that can be used to define health and fitness goals.
Key Market Trends
Consumer Electronics Segment to Witness High Growth
The consumer electronics segment is expected to witness a high growth rate, during the forecast period. The region is also witnessing increased demand for sensor-based devices, as the consumers are gaining awareness regarding the features that these devices provide, such as remote monitoring of wellness and fitness.
Also, a wide variety of factors are driving the demand of these devices in this region, such as the availability of various types of wearables, technological advancement in the field of sensors, and vendors' ability to provide differentiated products.
With the growing adoption of wearables, among users, the consumer electronics segment is expected to dominate the market, over the forecast period. The increase in demand for fitness trackers and wellness monitors is a key factor driving the growth of shipments of wearables, in this region.
Asia-Pacific to Witness the Highest Growth
The Asia-Pacific region is expected to witness the highest growth rate, during the forecast period, owing to the rapid urbanization and increased awareness of people for wearable devices. Furthermore, this region is home to some of the biggest manufacturers of semiconductors and sensors, which is expected to further drive the market.
Many big enterprises and various new players in countries, like China and Japan, are investing in sensor technology advancement, which is due to the growing popularity and adoption of various wearable fitness and health tracking devices, among people.
With the miniaturization of sensor technology and the development of precise sensing technologies, in wearables from original equipment manufacturers in the Asia-Pacific region, the market is anticipated to grow even further.
Also, OEMs are making a significant contribution in the development of inertial measurement units and MEMS technology, to provide greater accuracy, while keeping the price lower for these products, is one of the factors for the increased adoption of wearables, in this region.
The wearable motion sensors market is highly competitive, owing to the presence of many players in the market, in domestic as well as international locations. The market is moderately concentrated, and the key strategies adopted by the major players are product innovation, and mergers and acquisitions. Some of the major players in the market are Texas Instruments Incorporated, Honeywell International Inc., Analog Devices Inc., STMicroelectronics, among others.
January 2019 - At CES 2019, in Las Vegas, Nevada, Bosch Sensortec announced the BMI270, an ultra-low power smart inertial measurement unit (IMU), specifically targeted at wearable applications. It offered a strongly improved accelerometer offset and sensitivity performance, enabled by the newest Bosch MEMS process technology.
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The market estimate (ME) sheet in Excel format
3 months of analyst support
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
4.3.2 Growing Demand for Wearable Fitness Monitors
4.4 Market Restraints
4.4.1 High Cost of the Devices
4.5 Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Type
5.1.2 Inertial Gyroscopes
5.2 By Application
5.2.1 Smart Watches
5.2.2 Fitness Bands
5.2.3 Activity Monitors
5.2.4 Smart Clothing
5.2.5 Sports Gear
5.3 By End-user Vertical
5.3.3 Consumer Electronics
5.3.4 Entertainment and Media
5.3.5 Government and Public Utilities
5.4.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 Rest of Asia-Pacific
5.4.4 Latin America
184.108.40.206 Rest of Latin America
5.4.5 Middle East & Africa
220.127.116.11 United Arab Emirates
18.104.22.168 Saudi Arabia
22.214.171.124 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Texas Instruments Incorporated
6.1.2 Panasonic Corporation
6.1.3 Honeywell International Inc.
6.1.4 ABB Ltd
6.1.5 Analog Devices Inc.
6.1.6 General Electric
6.1.7 Samsung Electronics Co. Ltd
6.1.8 InvenSense Inc.
6.1.9 Emerson Electric Company
6.1.11 NXP Semiconductors NV
6.1.12 Robert Bosch GmbH
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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