Market Size of NA Wearable Sensors Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 45.60 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Wearable Sensors Market Analysis
The North America Wearable sensor market is expected to register a CAGR of 45.6% during the forecast period 2021 - 2026. North America is the leader in the market for wearable sensors. The market in this region is estimated to increase in the coming years because of the increased usage in different sectors like healthcare, travel, military, sports, and fitness, etc.
- The market is driven by the rising awareness of health and fitness, where wearable sensors play a vital role. Moreover, due to investments in research and development, the reducing price of the components used to manufacture the wearable sensors is making the wearable devices affordable.
- Increasing demand across various application sectors such as wearable technology for fitness, healthcare, and security is driving the North American wearable sensors market to grow at a rapid rate.
- During the COVID-19 outbreak, the demand for wearable devices' sensors that offer real-time data to frontline healthcare workers and let them quickly screen individuals with a high temperature skyrocketed.
- However, the ongoing chip shortage is expected to result in a decline in chip availability. As fewer products become available to buy, and with increasing demands, prices of wearable sensors and wearable sensor-based devices are expected to increase.
North America Wearable Sensors Industry Segmentation
Report on North America wearable sensors market gives comprehensive coverage of the market with analysis and segmentation with individual market share, size, and trends. The report also includes growth prospects, trends, and forecasts for the future.
| By Type | |
| Health Sensors | |
| Environmental Sensors | |
| MEMS Sensors | |
| Motion Sensors | |
| Others |
| By Device | |
| Wristwear | |
| Bodywear & Footwear | |
| Others |
| By Application | |
| Health & Wellness | |
| Safety Monitoring | |
| Home Rehabilitation | |
| Others |
| By Country | |
| United States | |
| Canada |
NA Wearable Sensors Market Size Summary
The North America wearable sensors market is experiencing significant growth, driven by increased adoption across various sectors such as healthcare, travel, military, sports, and fitness. The region's leadership in this market is attributed to the rising awareness of health and fitness, which has made wearable sensors an integral part of personal health management. The affordability of these devices, due to reduced component costs and ongoing research and development investments, is further propelling market expansion. The COVID-19 pandemic highlighted the importance of wearable sensors, as they provided real-time data to healthcare workers, enhancing their ability to screen individuals effectively. However, challenges such as the ongoing chip shortage may impact the availability and pricing of these devices.
The sports and fitness sector is a major contributor to the market's growth, with products like Nike Fuelband, Jawbone UP, Microsoft Band, and Fitbit gaining popularity for their ability to track fitness metrics. These devices are particularly appealing in North America, where obesity rates are a concern, as they encourage healthier lifestyles. Consumer attitudes towards wearable technology are evolving, with increasing interest in features that enhance interaction with the environment. This trend is supported by the growing integration of IoT, which allows wearables to exchange information with other devices. The market is moderately fragmented, with major players like Apple, Huawei, and Samsung continuously innovating to maintain their competitive edge. Partnerships with healthcare institutions and advancements in sensor technology are further enhancing the capabilities of wearable devices, offering manufacturers opportunities to expand their product offerings.
NA Wearable Sensors Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Force Analysis
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1.2.1 Threat of New Entrants
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1.2.2 Bargaining Power of Buyers/Consumers
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1.2.3 Bargaining Power of Suppliers
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1.2.4 Threat of Substitute Products
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1.2.5 Intensity of Competitive Rivalry
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1.3 Market Drivers
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1.3.1 Rapid technological developments and miniaturization of sensors
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1.3.2 Increasing applications in the industrial sector
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1.4 Market Restraints
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1.4.1 High initial costs for large scale implementation in industries
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1.5 Industry Value Chain Analysis
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1.6 Impact of COVID-19 on the Market
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1.7 Technology Snapshot
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1.7.1 Key technology overview (MEMS, CMOS, etc)
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Health Sensors
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2.1.2 Environmental Sensors
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2.1.3 MEMS Sensors
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2.1.4 Motion Sensors
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2.1.5 Others
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2.2 By Device
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2.2.1 Wristwear
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2.2.2 Bodywear & Footwear
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2.2.3 Others
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2.3 By Application
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2.3.1 Health & Wellness
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2.3.2 Safety Monitoring
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2.3.3 Home Rehabilitation
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2.3.4 Others
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2.4 By Country
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2.4.1 United States
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2.4.2 Canada
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NA Wearable Sensors Market Size FAQs
What is the current NA Wearable Sensors Market size?
The NA Wearable Sensors Market is projected to register a CAGR of 45.60% during the forecast period (2024-2029)
Who are the key players in NA Wearable Sensors Market?
STMicroelectronics, Infineon Technologies AG, Texas Instruments Incorporated, Analog Devices, Inc. and Panasonic Corporation are the major companies operating in the NA Wearable Sensors Market.
