Wearable Sensors Market by Type (Accelerometers, Pressure & force sensors, Gyroscopes, Medical based sensors), Application (Wristwear, Eye-wear, Footwear, Neckwear, Bodywear), Vertical and Region - Global Forecast to 2028
[253 Pages Report] The Wearable Sensors Market is valued at USD 1.6 Billion in 2023 and is projected to reach USD 4.2 Billion by 2028, growing at a CAGR of 21.1% from 2023 to 2028.
The increasing demand shift towards smaller, smarter, and cheaper sensors is an essential driver for the wearable sensors market. Due to this, the sensors can be seamlessly integrated into various smart devices, smartphones, or cloud services, making the interpretation more accessible and meaningful.
Wearable Sensors Market Forecast to 2028
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Wearable Sensor Market Dynamics
Drivers: The increasing trend toward smaller, smarter, and cheaper sensors
Led by rising demand for smart platforms such as IoT and M2M, the demand for sensors that are small, low prices, and incorporate smart technology is increasing. With such platforms and increasing inventions in smart mobile devices such as smartphones and tablets, there has been a decline in the cost of sensors, and the introduction of new simple, easy-to-use next-generation sensors has increased. Moreover, led by significant developments in technology, since the past decade, the size of sensors such as level, pressure, and image sensors has decreased appreciably; this is one of the major factors behind the overall market growth.
Restraint: Lack of common standards and interoperability issues
The lack of common standards for sensor communication also creates interoperability issues. Interoperability and easy exchange of information between connected devices are vital for the further growth of the wearable ecosystem. Presently, the technical and market scenarios for wearable technology are not very satisfactory in terms of architectural solutions or a universal standard to solve the issue of interoperability. To achieve this, efforts such as understanding the role of security and its importance will be required from enterprises, organizations, and developers for a considerable amount of time. Thus, the lack of common standards and interoperability issues restricts the growth of the overall wearable sensors market.
Opportunity: Increasing number of connected devices
In the past five years, Internet penetration worldwide has seen a remarkable change. Almost one-third of the world population is using the Internet now, at higher bandwidths. This has increased the number of Internet-enabled smart devices in developing countries. In 2014, worldwide smartphone usage grew at a rate of ~25%. Smartphones are among the widely used portable devices in the wearable ecosystem, and they are primarily used for gathering and tracking data related to health and fitness for the 0–9 and 60 and above age groups. In addition, wearable technology forms an important segment of platforms such as IoT and M2M, and these platforms are the key factors for increasing the number of connected devices worldwide.
Challenge: Device protection and thermal consideration
Wearable devices such as fitness bands and health monitors that are worn continuously are expected to function in rugged conditions involving dust and moisture. Materials used in packaging and assembly remain sensitive to external temperature and moisture. Thus, the operating temperature of the device is decided by reliability requirements in addition to a certain comfort level for the users. These thermal design challenges are significant enough since they are user-friendly and durable.
Wearable Sensors Market Ecosystem:
The market for Bodywear segment to grow at a significant CAGR during the forecast period.
Bodywear refers to textiles embedded with sensors, which is an emerging trend in the market. It works on fibertronics, which explains the electronics and computational functionality integrated into textile fabrics. They have attracted the emerging trend of techno-fashion clothing that brings electronics and sensors closer to our skin for measuring various health and fitness parameters. Bodywear mainly includes clothing and innerwear, arm wear and legwear, smart socks, and chest straps.
Magnetometers expected to hold the second highest CAGR of the wearable sensors market during the forecast period.
Magnetometers are designed to measure the strength and direction of magnetic fields. Magnetometers are compact in size and are surrounded by small electronic chips that help detect the magnetic field and measure the relative orientation of the device. These devices have a sensor that senses the magnetic field density. These are used to detect position and location in smartphones and devices. Magnetometers are a major component of wristwear and bodywear devices. They are efficient, and maintenance is cheap.
Wearable sensors market in North America holds the largest market share during the forecast period.
The wearable sensors market in North America has been studied in the US, Canada, and Mexico. North America is the fastest-growing wearable sensors market owing to the ongoing technological innovations and the presence of some of the leading sensor manufacturers in North America; growing demand for consumer electronics such as wearable devices and gaming consoles is also boosting the use of sensors in different end-user industries such as entertainment and healthcare.
Wearable Sensors Market by Region
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Key Market Players
Major vendors in the wearable sensor companies include STMicroelectronics (Switzerland); Infineon Technologies (Germany); Knowles Electronics (US); NXP Semiconductors (Netherlands); Texas Instruments (US); TE Connectivity (Switzerland); Broadcom (Switzerland); Analog Devices (US); Panasonic (Japan); Asahi Kasei (Japan).
Wearable Sensors Market Report Scope:
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Report Metric |
Details |
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Growth Rate |
21.1% |
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Estimated Market Size in 2023 |
USD 1.6 Billion |
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Projected Market Size in 2028 |
USD 4.2 Billion |
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Market size available for years |
2019—2028 |
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Base year |
2022 |
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Forecast period |
2023—2028 |
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Forecast Units |
USD Millions/USD Billions and Million Units |
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Segments Covered |
Type, Application, Verticals, and Region |
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Geographic regions covered |
North America, Europe, Asia Pacific, and RoW |
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Companies covered |
STMicroelectronics (Switzerland); Infineon Technologies (Germany); Knowles Electronics (US); Nxp Semiconductors (Netherlands); Texas Instruments (US); TE Connectivity (Switzerland); Broadcom (Switzerland); Analog Devices(US); Panasonic (Japan); and Asahi Kasei (Japan) among others |
Wearable Sensors Market Highlights
This research report categorizes the wearable sensors market based on type, application, vertical, and region.
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Segment |
Subsegment |
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Based on Type: |
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Based on Application: |
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Based on Vertical: |
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Based on Region: |
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Recent Developments
- In May 2023, the engineers at the University of California (San Diego) developed the first fully integrated wearable ultrasound system for deep tissue monitoring. It facilitates potentially life-saving cardiovascular monitoring and marks a major breakthrough for one of the world's leading wearable ultrasound labs.
- In May 2023, STMicroelectronics (Switzerland) launched their first MEMS pressure sensors with high accuracy and superior environmental robustness suitable for gas and water-metering equipment, weather monitoring, air conditioning, and home appliances.
- In April 2023, Knowles Electronics (US) introduced the Trio of Sisonic MEMS microphones for ear and wearable solutions. The new SiSonic microphones help raise the standard of audio for today’s on-the-go lifestyle.
Frequently Asked Questions (FAQ):
What are the key strategies adopted by key companies in the wearable sensor market?
Product launches, acquisitions, and collaborations have been and continue to be some of the major strategies adopted by the key players to grow in the wearable sensor market.
What region dominates the wearable sensor market?
The North American region will dominate the wearable sensor market.
What vertical dominates the wearable sensor market?
The consumer sector is expected to dominate the wearable sensor market.
Which type dominates the wearable sensor market?
Pressure & force sensor is expected to have the largest market size during the forecast period.
Who are the major companies in the wearable sensor market?
STMicroelectronics (Switzerland); Infineon Technologies (Germany); Knowles Electronics (US); NXP Semiconductors (Netherlands); Texas Instruments (US).
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The study involved four major activities in estimating the size of the wearable sensors market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chains through primary research. The bottom-up approach was employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various sources were used to identify and collect information important for this study. These include annual reports, press releases & investor presentations of companies, white papers, technology journals, certified publications, articles by recognized authors, directories, and databases.
Secondary research was mainly used to obtain key information about the supply chain of the industry, the total pool of market players, the classification of the market according to industry trends to the bottom-most level, regional markets, and key developments from the market and technology-oriented perspectives.
Primary research was also conducted to identify the segmentation types, key players, competitive landscape, and key market dynamics, such as drivers, restraints, opportunities, challenges, and industry trends, along with key strategies adopted by players operating in the wearable sensors market. Extensive qualitative and quantitative analyses were performed on the complete market engineering process to list key information and insights throughout the report.
Primary Research
Extensive primary research has been conducted after acquiring knowledge about the wearable sensors market scenario through secondary research. Several primary interviews have been conducted with experts from both the demand (end users) and supply side (wearable sensors providers) across 4 major geographic regions: North America, Europe, Asia Pacific, and RoW. Approximately 80% and 20% of the primary interviews have been conducted from the supply and demand side, respectively. These primary data have been collected through questionnaires, emails, and telephonic interviews.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
In the complete market engineering process, both top-down and bottom-up approaches were implemented, along with several data triangulation methods, to estimate and validate the size of the wearable sensors market and various other dependent submarkets. Key players in the market were identified through secondary research, and their market share in the respective regions was determined through primary and secondary research. This entire research methodology included the study of annual and financial reports of the top players, as well as interviews with experts (such as CEOs, VPs, directors, and marketing executives) for key insights (quantitative and qualitative).
All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the markets covered in this research study were accounted for, viewed in detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data was consolidated and supplemented with detailed inputs and analysis from MarketsandMarkets and presented in this report.
Wearable Sensors Market: Top-Down Approach
Wearable Sensors Market: Bottom-Up Approach
Data Triangulation
After arriving at the overall market size from the market size estimation process, as explained above, the total market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, market breakdown and data triangulation procedures have been employed, wherever applicable. The data have been triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market has been validated using top-down and bottom-up approaches.
Market Definition
Wearable computing or wearable technology refers to electronic devices or equipment that can be worn on a user’s body. They include smart watches, glasses, clothing, and shoes. They operate with the help of sensors such as accelerometers, magnetometers, gyroscopes, motion sensors, temperature and humidity sensors, pressure and force sensors, image sensors, and other medical-based sensors. Sensors in wearable devices offer a wide range of functionalities, from basic features such as monitoring heart rate and calories burned to advanced smart features such as providing data about smell, taste, hearing, and sight. Individuals use these devices to track fitness and health, and in infotainment and fashion, sportspersons can monitor their performance in various sports, such as golf, football, and basketball, among others.
Key Stakeholders
- Electronic design automation (EDA) and design tool vendors
- Players are involved in machine-to-machine (M2M) and Internet of Things (IoT) platforms.
- Consumer wearable manufacturers
- Healthcare-related product manufacturers
- Textile, cloth, and yarn manufacturers and suppliers
- Luxury clothing and accessory manufacturers
- Consumer electronics manufacturers
- Integrated device manufacturers (IDMs)
- Sensor, actuator, and transducer players
- Wearable electronics intellectual property players
- Wearable electronics technology platform developers
- Original equipment manufacturers (OEMs) (wireless equipment manufacturers or electronic product manufacturers)
- Research organizations
Report Objectives
- To describe, segment, and forecast the wearable sensors market based on type, verticals, and application in terms of value.
- To describe and forecast the wearable sensors market, by type, in terms of value and volume.
- To describe and forecast the market for four key regions: North America, Europe, Asia Pacific, and the Rest of the World (RoW), in terms of value.
- To provide detailed information regarding drivers, restraints, opportunities, and challenges influencing the growth of the wearable sensors market
- To provide a detailed overview of the supply chain and ecosystem pertaining to wearable sensors and the average selling prices of wearable sensors.
- To strategically analyze the ecosystem, tariffs and regulations, patent landscape, trade landscape, and case studies pertaining to the market under study
- To strategically analyze micro markets with regard to individual growth trends, prospects, and contributions to the overall market
- To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market
- To analyze competitive developments such as product launches and developments, expansions, partnerships, collaborations, contracts, and mergers and acquisitions in the wearable sensors market.
- To strategically profile the key players in the wearable sensors market and comprehensively analyze their market ranking and core competencies
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
Growth opportunities and latent adjacency in Wearable Sensors Market
Market (current and forecast) information on military wearable for vital sign monitoring during training, for various regions worldwide. Is the military application covered? If yes up to what extent?
We are a startup and have invented a new type of optical stretch sensors. Have you included this in your research? If yes in which application? Also I would like to understand the use of Smart Devices and its impact on Wearable sensor market.
What are the major applications and the future trends in the market for wearable sensors? Have you considered IoT or smart sensors in the scope of the report?
How wearable sensors can be used for medical applications? How would the use of AR, IoT and M2M impact the use of wearable sensors in medical applications?