Xiaomi Announced the Release of Smart Shoes in Association with Amazfit
In May 20219, Xiaomi and Amazfit announced the release of smart shoes. One of the factors that will probably open up opportunities for market players in the upcoming years is the focus on China by businesses around the world.
Increased Demand for Consumer Electronics to Drive Market Growth
Consumer good end users include smart watches, bands, clothing, and patches with embedded sensors, small portable devices, and mobile applications. Consumer applications for wearable sensors have increased due to rising consumer electronics spending, growing urbanization, and consumers' improving lifestyles, which have increased public awareness of health and safety. For instance, Nike, one of the market leaders in the fitness tracker industry, incorporates the most recent innovations into its manufacturing procedures and products.
Hardware and Software-Related Technical Problems to Limit the Market Growth
Like many new technologies integrated into one system, wearable gadgets have hardware and software performance issues that may limit their general adoption. Users frequently struggle with waterproofing since moisture from sweat or laundry can damage wearable gadgets. Due to their diminutive size, the devices' screens and displays might be modest, and their power supplies might be limited. Thus, the technological complexity of the hardware and software in wearable devices is a substantial barrier to the market expansion for wearable sensors.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the wearable sensors market plan acquisitions to improve their brand recognition globally. For instance, in January 2021, the Libre 3 System, a glucose monitoring device that can be used for up to 14 days, was on display by Abbott Laboratories. In 2021, the U.S. Food and Drug Administration approved Ava AG's wearable fertility tracker for women.
Notable Industry Development
- December 2021: With Harmony OS, Huawei has introduced smart glasses with ultra-thin, high-amplitude stereo speakers on the temples for music streaming and hands-free calling.
List of Key Players Profiled in the Report
- ANALOG DEVICES
- INFINEON TECHNOLOGIES AG
- INVENSENSE INC.
- PANASONIC CORPORATION
- TEXAS INSTRUMENTS
- ZOLL MEDICAL CORPORATION
Further Report Findings
- The market in North America is expected to gain a huge portion of the global wearable sensors market share in the coming years, rising demand for wearable technology in various application areas, including security, healthcare, and fitness.
- Due to the vast consumer base for sports and fitness equipment, the abundance of tech firms, and the rising incidence of chronic diseases, the U.S. generates the lion's share of the region's income.
- In Asia Pacific, the growth in this region is primarily driven by favorable reimbursement procedures and sophisticated, inexpensive sensor systems
|Unit||Revenue (USD Million) and Volume (Kilo Tons)|
|Segmentation||By Type, By Technology, By Application, By Vertical, and By Geography|