Smart Wearable Fitness Devices Sensors Market Growth Analysis

Market Insights

The Smart Wearable Fitness Devices Sensors Market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global market.

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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

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)
• Qualcomm (US)
• Robert Bosch GmbH (Germany)
• LifeScan, Inc. (US).

Market Dynamics

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.

Segment Analysis

Application Trends

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.

Regional Trends

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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Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories-

By Type

• Temperature Sensor
• Pressure Sensor
• Speed Sensor
• Gas Sensor
• Others

By Application Type

• Children
• Adult
• The Elderly

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: India, Japan, China, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

COVID-19 Impact

The covid-19 outbreak posed significant challenges to the smart wearable devices industry across geographies. It impacted the growth of the smart wearable fitness devices sensors market positively as the demand for wearable devices increased to continuously monitor the health of the patients. However, the imposition of complete lockdown and restrictions on trade affected the product supply for a short period.

Critical Questions Answered in the Report

• What are the key trends in the market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Target Audience

Here is the list of the group of customers that the smart wearable fitness devices sensors market hopes to have the greatest opportunity to convert-

• Distributors
• Suppliers
• Manufacturers
• Logistics organizations
• Government bodies

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

The following are the key features of the report:

• Overview, industry life cycle analysis, supply chain analysis.
• Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Trend and forecast analysis.
• Segment trends and forecast.
• Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data

We conducted more than 10 detailed primary interviews with companies across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.