PUBLISHER: Grand View Research | PRODUCT CODE: 1575259
PUBLISHER: Grand View Research | PRODUCT CODE: 1575259
The global wearable sensors market size is anticipated to reach USD 9.26 billion by 2030, according to a new report by Grand View Research, Inc., progressing at a phenomenal CAGR of 13.5% during the forecast period. Wearable sensors are a vital aspect of wearable devices owing to the growing focus on health and fitness monitoring activities. Wearable sensors are emerging as a revolution in monitoring healthcare and fitness parameters and reducing overall hospital costs for patients.
Wearable sensors are expected to gain traction over the forecast period. The smartwatch segment dominated the market and is expected to grow at the fastest CAGR over the forecast period. The growth of the segment is accredited to its capabilities in monitoring and rendering a comprehensive analysis of user activities. As technology advances, end users, such as Apple, Samsung, and Fossil, are focusing on providing game-changing products, which is a key determinant driving the popularity of wearable sensors.
The consumer segment is expected to remain dominant with fitness tracking emerging as a key trend among users in the recent past. An increase in demand for wearable sensors for remote monitoring of health and fitness through motion sensing technologies and data analysis techniques is anticipated to be a major factor driving segment growth. The healthcare vertical is anticipated to grow at a healthy CAGR over the forecast period, fueled by technological developments in remote monitoring.