This market research report was originally published at the Yole Group’s website. It is reprinted here with the permission of the Yole Group.
OUTLINE
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The total sensors and actuators for wearables market will reach about US$5.7 billion in 2028 with a CAGR22-28 of ~8%.
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On the technology side, sensor and module makers are trying to get out of the commoditization cycle and move up the value chain. Several challenges arise.
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Bosch, Knowles, STMicroelectronics… almost 80 % of the sensors & actuators market for wearables (in value) is held by 15 players.
Wearable end systems are widely used in consumer, medical, and industrial applications. The total number of wearable end systems was 949 million units in 2022, and we forecast it will reach 1.2 billion units in 2028 with a 4% CAGR22-28 (by volume). In terms of sensors and actuators, this represents a global market of almost 4.17 billion units (US$3.58 billion) in 2022, and the market is expected to grow to 6.77 billion units (US$5.7 billion), with a ~8% CAGR22-28 (volume and revenue growth).
“The wearables industry is broad, diversified, and growing rapidly. Global consumer megatrends, including teleconsulting, remote patient monitoring, preventive medicine, and the improvements in connectivity in Industry 4.0 by 5G, are boosting this market. As in pastry, there are many recipes, but only some give good results using a precise mixture of appearance, taste, and texture. Hearables, noninvasive glucose monitoring, and AR /VR : headsets should be the most dynamic systems for the three end markets in the coming five years.”
Clyde Midelet, Ph.D.
Technology and Market Analyst for Sensing and Actuating, Photonics and Sensing Division, Yole Intelligence (part of the Yole Group)
In this context, Yole Intelligence releases its brand-new Sensing & Actuating Report, Sensors & Actuators for Wearables 2023. With this report, the company, part of Yole Group, aims to provide a complete analysis of sensors & actuators for wearables markets and the underlying technologies.
“The difference between end systems for industrial, consumer, and medical applications tends to blur over time. One of the primary purposes is to inform the user of their overall healthcare, sleep quality, and wellness. Users then have the keys to manage their lifestyles.”
Pierre Delbos
Technology and Market Analyst for Sensing and Actuating, Photonics and Sensing Division, Yole Intelligence (part of the Yole Group)
Four main technology trends are expected. First, there are efforts to improve and combine signals from different sensors. For example, PPG signals are coupled with IMU s and ECG s to improve accuracy and the signal-to-noise ratio. Second, in order to integrate PPG modules in smaller systems, such as TWS or smart rings, improvements are being made to these modules to reduce the size and power consumption and increase the sensitivity. Third, noninvasive technologies able to monitor glucose levels are in development to integrate them into smartwatches, hearables, or smart patches. In addition, some technologies could extend to detecting other molecules, such as ketone, lactate, and alcohol concentrations. And finally, there is a growing penetration of MEMS technologies in consumer and medical hearables applications.
Sensors & actuators dedicated to wearables end systems face several challenges. They must have the lowest possible power consumption, a small footprint, high accuracy, and should integrate more and more intelligence at the sensor level, giving them extra functionalities.
Yole Intelligence’s Sensing & Actuating team invites you to follow the technologies, related devices, applications, and markets on www.yolegroup.com.
In this regard, do not miss IVAM Tech Summit 2023 from May 03 to May 04 in Bochum, Germany. Clyde Midelet will be part of the session Smart Wearables. More information.
Stay tuned!
Acronyms
- CAGR : Compound Annual Growth Rate
- AR : Augmented Reality
- VR : Virtual Reality
- PPG : Photoplethysmogram
- IMU : Inertial Measurement Units
- ECG : Electro CardioGram
- TWS : True Wireless Stereo
