Wearable Sensors Market size is poised to cross USD 16.5 Billion by the end of 2035, growing at a CAGR of 18% during the forecast period, i.e., 2023-2035. In the year 2023, the industry size of wearable sensors was over USD 2.5 Billion. The growth of the market can be attributed primarily to the increasing interest and awareness of fitness among individuals. In a survey, it was observed that, in the United States, 62% of people are interested in maintaining their health, and 53% are interested in doing physical exercise and eating nutritious foods and drinks. Moreover, the digitalization of products and services in the healthcare sector is anticipated to drive the global wearable sensors market during the forecast period. With different applications such as tracking air quality through the use of inhalers or monitoring breast cancer using bra inserts, healthcare wearable devices can be used for different treatments and therapies.
Furthermore, the rising prevalence of cardiovascular diseases (CVDs) worldwide is one of the key factors expected to propel the demand for wearable sensors. According to the World Health Organization, across the world, cardiovascular diseases (CVDs) account for the largest number of deaths. Globally, 17.9 million people died from CVDs in 2019, which accounted for 32% of all deaths. Among these deaths, 85% were caused by cardiac abnormalities, heart attacks, and strokes. In PPG sensor technology, oxygen saturation, blood pressure, and cardiac output are measured through waves and peak readings. Such sensors are used to diagnose and monitor cardiovascular diseases, such as strokes, heart valve diseases, and hypertension. Moreover, the rapid adoption of smartphones and wireless devices, miniaturization of sensors, advancements in sensors, the growing smart clothing market, and rising healthcare spending are some of the market trends expected to fuel market growth over the forecast period.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
18% |
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Base Year Market Size (2023) |
USD 2.5 Billion |
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Forecast Year Market Size (2035) |
USD 16.5 Billion |
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Regional Scope |
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Sensor Type (Accelerometers, Optical, Pressure& Force, Temperature, Touch, Motion, Medical Sensors)
The global wearable sensors market is segmented and analyzed for demand and supply by sensor type into accelerometers, optical, pressure & force, temperature, touch, motion, and medical sensors. Among these segments, the accelerometers segment is anticipated to capture the largest market size in the global wearable sensors market owing to the increasing demand for accelerometers in wearable sensors for measuring and assessing physician assistants in clinical and laboratory settings. Moreover, the advantages offered by accelerometer sensors, such as ease of installation, a strong performance at high frequencies, and low price along with advancing product launches are anticipated to augment segment growth. For instance, in 2021, STMicroelectronics introduced a next-generation MEMS accelerometer for high-performance automotive applications that offers navigation, tilt and inclination measurements, telematics, and anti-theft systems.
Our in-depth analysis of the global wearable sensors market includes the following segments:
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By Sensor Type |
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By Device |
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By End User |
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North America Market Forecast
The North America wearable sensors market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The rapid adoption of new developments and technologies, and a growing healthcare sector. Moreover, increasing spending on wearable sensor devices, as well as increasing demand in a large number of industry applications, such as wearable technology for fitness, security, and healthcare, is anticipated to drive lucrative growth of the wearable sensors market in the region. For instance, it was observed that wearable device spending reached USD 81 billion in 2021, up 18% from USD 67 billion the previous year. Wearable device usage in the United States has increased from 8.5% in 2017 to 32% in 2021. Moreover, the growing demand for home healthcare monitoring in addition to an aging population in the region is expected to drive the regional market over the forecast period. In a survey, it was noted that in the United States 75-80% of people prefer the accessibility of remote patient monitoring devices.
Author Credits: Abhishek Verma, Hetal Singh
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