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Wearable Sun & Light Tracker Market Segmentation by Spectrum Range {UVA (315-400nm), UVB (280-315nm), and UVC (100-280nm)}; and by Wearable Type (Handheld, Band, Strap, Stickers, Clip-Ons, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • July 2021- Scientists from Nanyang Technological University have created a new type of light sensor, which is both flexible and highly sensitive. The aim of this study is to pave the way for UV-enabled flexible wear technology.

  • January 2018- L’Oréal developed a battery-free device which can be worn on the human nail, and monitors the amount of UV light a person is exposed to. This device marks the entrance of the company into the wearables market.

Global Wearable Sun & Light Tracker Market Highlights 2022 – 2030

The global wearable sun & light tracker market is estimated to garner a hefty amount of revenue and grow at a notable CAGR over the forecast period, i.e., 2022 – 2030. As concerns associated with human skin are gaining momentum, there is a surging demand for devices that provide accurate depiction of sunlight intake and UV exposure. This is considered to be a significant factor projected to leverage the sales of wearable sun & light trackers in the forthcoming years. Furthermore, extensive involvement of cosmetic and pharmaceutical in developing innovative products is expected to offer lucrative opportunities to the market in the near future. In addition, rising availability of products in-built with multiple functionalities, such as providing sun exposure along with vitamin D levels, skin age and overall progress, is also predicted to drive market growth in the nearing time.

Wearable Sun & Light Tracker Market

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Skin disorders (including skin cancer, sunburn, photoaging and malignant melanoma) are one of the most prevalent form of diseases around the world, especially in Scandinavian countries, and a significant portion of these conditions are caused by excessive sun exposure. According to the data provided by World Cancer Research Fund, skin cancer or melanoma is the 19th most common cancer worldwide, with nearly 300,000 new cases in the year 2018.

Top Countries

The market is segmented by wearable type into handheld, band, strap, stickers, clip-ons, and others, out of which, the band segment is anticipated to hold the largest share in the global wearable sun & light tracker market. This can be accounted to the high demand for bands resulting from their ease of use. Besides, bands are highly suited for travelling as these remains tied to wrists, which is another factor evaluated to boost the growth of this market segment in the coming years. Additionally, the clip-ons segment is assessed to witness robust growth over the forecast period owing to their ability to be attached to the body part with ample sun exposure for observing better results. Increasing incorporation of wireless features in these types of trackers, and growing advancements in smart wearable devices are also foreseen to boost this market segment’s growth by then end of 2030.  

Major Macro-Economic Indicators Impacting the Market Growth

Research Expenditure

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Wearable Sun & Light Tracker Market Regional Synopsis

On the basis of geographical analysis, the global wearable sun & light tracker market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of the increasing investments in pharmaceutical and wellness industries in countries, namely China and India, which has raised the demand for UV sensors in the region. in fiscal year 2018, India’s public health expenditure reached to approximately USD 6.5 billion, which rose up to about USD 8.3 billion in 2020. Growing usage of wearable sun and light trackers by dermatology community is also expected to fuel the region’s market growth in the near future. Moreover, North America is projected to emerge as the largest market during the forecast period ascribing to the early adoption of technology, largescale usage of wearable tracking devices, and strong presence of prominent market players in the region.

Wearable Sun & Light Tracker Market

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The global wearable sun & light tracker market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global wearable sun & light tracker market includes the following segments:

By Spectrum Range

  • UVA (315-400nm)
  • UVB (280-315nm)
  • UVC (100-280nm)

By Wearable Type

  • Handheld
  • Band
  • Strap
  • Stickers
  • Clip-Ons
  • Others

Growth Drivers

  • Increasing Prevalence of Skin Disorders Globally
  • Growing Development of Innovative Products by Cosmetic and Pharmaceutical Industries

Challenges

  • High Cost of Wearable Sun & Light Tracker

Top Featured Companies Dominating the Market

  • GoodLux Technology, LLC
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Comfable Inc.
  • L'Oréal S.A.
  • Biron Health Group
  • SunSense AS
  • Ultra, Inc.
  • Smartsun
  • SUNSAFE
  • SunFriend Corporation
  • Rooti Labs Limited

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