Global Wearable Sensors Market Size to worth USD 13.25 Billion by 2033: Market Statistics Report

Global Wearable Sensors Market Size to worth USD 13.25 Billion by 2033

According to a research report published by Spherical Insights & Consulting, the Global Wearable Sensors Market Size is Expected to Grow from USD 3.75 Billion in 2023 to USD 13.25 Billion by 2033, at a CAGR of 13.45% during the forecast period 2023-2033.  

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Wearable Sensors Market Size, Share, and COVID-19 Impact Analysis, By Sensor Type (Accelerometer, Gyroscope, Optical, Force & Pressure, Inertial Sensor, Temperature, Magnetometers, Medical Based Sensors, and Others), By Device (Smartwatch, Fitness Band, Smart Glasses, Smart Fabric, Smart Footwear, and Other Wearables), By End-use (Consumer, Defense, Healthcare, Industrial, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.           

Wearable sensors refer to the hardware component that captures activity, physiological, and environmental signals. They are embedded in daily devices like smartphones, smart watches, head-worn, etc. They are often worn on the surface of the skin and used for detecting, analyzing, and transmitting measures of physiological function including heart rate, heart rate variability, skin temperature, physical movement, and activity. The introduction of several internet-enabled smart devices is providing lucrative market growth opportunities for wearable sensors. The market is being driven by the increased use of wearable sensors for children improvements in sensor technology, and the expansion of remote and at-home patient monitoring. On the contrary, the challenges related to the technical complexity of the hardware and software system of wearable devices can hamper the market growth.

The accelerometer segment dominated the market with the largest market share in 2023.

Based on the sensor type, the global wearable sensors market is divided into accelerometers, gyroscopes, optical, force & pressure, inertial sensors, temperature, magnetometers, medical based sensors, and others. Among these, the accelerometer segment dominated the market with the largest market share in 2023. Accelerometers are used in wearable devices to count steps and recognize gestures with the growing technological advancements.  

The smartwatch segment is anticipated to register the fastest CAGR growth during the forecast period.

Based on the device, the global wearable sensors market is divided into smartwatch, fitness band, smart glasses, smart fabric, smart footwear, and other wearables. Among these, the smartwatch segment is anticipated to register the fastest CAGR growth during the forecast period. Comprehensive health and fitness tracking functions are improved by the use of advanced sensors such as GPS, accelerometers, and heart rate monitors which is driving the market in the smartwatch segment.

The consumer segment dominated the global wearable sensors market in 2023.

Based on the end-use, the global wearable sensors market is divided into consumer, defense, healthcare, industrial, and others. Among these, the consumer segment dominated the global wearable sensors market in 2023. Consumer wearables can provide patients with tailored health data, which could help with self-diagnosis and behaviour-change interventions.

North America is projected to hold the largest share of the global wearable sensors market over the forecast period.

North America is projected to hold the largest share of the global wearable sensors market over the forecast period. The increased usage of wearable sensors in different sectors such as healthcare, travel, military, and sports & fitness is driving the market. The rapid technological development and miniaturization of sensors along with the growing application in the industrial sectors are driving the regional market growth.

Asia Pacific is predicted to grow at the fastest CAGR in the wearable sensors market over the forecast period. The growing adoption of wearable electronic devices for sports and fitness activities is augmenting the market growth. The increased utilization of technologically advanced software and hardware components in the fitness, healthcare, and defense sectors contributes to market expansion.

Competitive Analysis

Major key players in the wearable sensors market include STMicroelectronics NV, Texas Instruments Incorporated, Infineon Technologies AG, Analog Devices Inc., InvenSense Inc. (TDK Corporation), AMS OSRAM AG, Panasonic Corporation, NXP Semiconductors NV, TE Connectivity Ltd., Bosch Sensortec GmbH (Robert Bosch GmbH), and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In May 2023, A team of engineers at the University of California San Diego developed the first fully integrated wearable ultrasound system for deep-tissue monitoring, including for subjects on the go. It facilitates potentially life-saving cardiovascular monitoring and marks a breakthrough for one of the world’s leading wearable ultrasound labs.

• In May 2023, STMicroelectronics, a global semiconductor leader serving customers across the spectrum of electronics applications, introduced the market’s first MEMS water/liquid-proof absolute pressure sensor with a declared 10-year longevity program for the industrial market.

• In February 2023, 221e srl, an innovator in embedded AI software, leader in intelligent precision sensing, and ST Authorized Partner, announced it has extended its collaboration with STMicroelectronics, a global semiconductor leader serving customers across the spectrum of electronics applications, to include the latest offerings of both companies.

• In January 2023, Knowles Corporation, a market leader and global provider of advanced micro-acoustic microphones and speakers, audio solutions, and high-performance capacitors and RF products, introduced its latest series of SiSonic MEMS microphones: Titan (Digital), Falcon (Differential Analog), and Robin (Single Ended Analog).

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global wearable sensors market based on the below-mentioned segments:

Global Wearable Sensors Market, By Sensor Type

• Accelerometer
• Gyroscope
• Optical
• Force & Pressure
• Inertial Sensor
• Temperature
• Magnetometers
• Medical Based Sensors
• Others

Global Wearable Sensors Market, By Device   

• Smartwatch
• Fitness Band
• Smart Glasses
• Smart Fabric
• Smart Footwear
• Other Wearables

Global Wearable Sensors Market, By End-use

• Consumer
• Defense
• Healthcare
• Industrial
• Others

Global Wearable Sensors Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa