Internet penetration has increased notably in the last 5 years, and one-third of the APAC population uses the Internet at higher bandwidths. This has increased the number of Internet-enabled smart devices in developing countries. Smartphones are among the most used portable devices. In the wearable ecosystem, they are primarily used to gather and track health and fitness data for the 0–9 and 60 and above age groups. According to Cisco, ~6.3 billion people and ~500 million devices were connected to the Internet in 2003, and with increasing customers' focus on smart devices, the number reached ~6.58 billion devices in 2020. The increasing number of connected devices eventually fuels the demand for wearable sensors.
According to Cisco Systems, the growth in connected wearable devices from 325 million in 2016 to 529 million in 2018, particularly in healthcare applications. These applications are expected to continue to fuel the demand for connected wearable devices in the upcoming years. With growing investments by various industries in IoT and IoT sensors, the demand for wearable devices across multiple sectors is expected to rise and create a massive opportunity for the APAC wearable sensor market players in the near future. This APAC market is projected to rise at a good CAGR during the forecast period.
Asia Pacific Wearable Sensor Market Segmentation
The APAC wearable sensor market is analyzed on the basis of sensor type, application, vertical, and country. Based on sensor type, the market is segmented into accelerometer, gyroscope, position sensor, motion sensor, image sensor, pressure and force sensor, touch sensor, and others. The accelerometer segment dominated the market in 2020.
Based on application, the market is segmented into smart wristwear, smart glass, smart bodywear, and smart footwear. The smart wristwear segment led the market in 2020.
Based on vertical, the market is segmented into consumer electronics, healthcare, and industrial and enterprise. The consumer electronics segment dominated the market in 2020.
Based on country, The APAC wearable sensor market is segmented into China, India, Japan, South Korea, and the Rest of APAC. China dominated the market in 2020.
Texas Instruments Incorporated, NXP Semiconductor, Analog Devices Inc, STMicroelectronics, Infineon Technology, Sensirion AG, Robert Bosch GmbH, Panasonic Corporation, TE Connectivity Corporation, and TDK corporation are the leading companies in the APAC wearable sensor market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 825.45 Million |
| Market Size by 2028 | US$ 3,247.28 Million |
| CAGR (2021 - 2028) | 21.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Sensor Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Wearable Sensor Market is valued at US$ 825.45 Million in 2021, it is projected to reach US$ 3,247.28 Million by 2028.
As per our report Asia Pacific Wearable Sensor Market, the market size is valued at US$ 825.45 Million in 2021, projecting it to reach US$ 3,247.28 Million by 2028. This translates to a CAGR of approximately 21.6% during the forecast period.
The Asia Pacific Wearable Sensor Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Wearable Sensor Market report:
The Asia Pacific Wearable Sensor Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Wearable Sensor Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Wearable Sensor Market value chain can benefit from the information contained in a comprehensive market report.
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