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STMicroelectronics N.V. and Analog Devices Inc. hold a significant share of over 20% in the wearable sensor industry. STMicroelectronics N.V. offers a comprehensive range of energy-efficient and miniaturized sensors including accelerometers, gyroscopes, and magnetometers. It focuses on integrating multiple sensor functionalities into compact modules to cater to the increasing demand for sophisticated yet user-friendly wearable devices.
Analog Devices Inc. holds a significant share in the market due to its extensive portfolio of high-precision, low-power sensors tailored for wearables. Its expertise in designing sensors for motion tracking, health monitoring, and environmental sensing, combined with a strong focus on innovation and reliability, meets the diverse needs of the rapidly growing wearable technology sector. This helps the company gain a competitive advantage in the market.
Major players operating in the wearable sensor industry are:
Industry size for wearable sensor was valued at over USD 1.5 billion in 2023 and is estimated to register more than 20% between 2024 and 2032 owing to the aging global population and the desire for the elderly to maintain independence.
Asia Pacific market is expected to observe over 20% CAGR from 2024 to 2032 due to the strong emphasis on R&D and the presence of major electronics manufacturers in the region.
The wristwear segment held over 30% share of the wearable sensor market in 2023 and is anticipated to record strong demand through 2032 with an increasing consumer focus on health & wellness, with individuals seeking convenient ways to monitor their physical activity, heart rate, sleep patterns, and other health metrics.
STMicroelectronics N.V., Analog Devices Inc., Texas Instruments Incorporated, NXP Semiconductors NV, Broadcom Inc., Knowles Electronics, LLC., and Infineon Technologies AG.