Dublin, Nov. 03, 2020 (GLOBE NEWSWIRE) -- The "United Kingdom Wearable Sensors Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The UK wearable sensors market is estimated to register a CAGR of about 39.50% during the forecast period (2020 - 2025). The major trend driving the UK wearable sensor market is miniaturization and improved communication capabilities, which enable their integration into various devices and machines without compromising other functionalities. The market is also stimulated due to the rising awareness of health and fitness, where wearable sensors play a vital role. Innovations in fields as diverse as connectivity, sensor technology, material and data sciences, robotics, and e-textiles, are driving rapid advances in wearables sensors in a broad range of consumer and commercial sectors in the United Kingdom. With the increasing expectation of being connected anytime and anywhere, wearable sensor technology has grown to be one of the biggest growing industries in the United Kingdom. New opportunities in the market, such as the internet of things (IoT) and smart mobile devices, have accelerated the development of wearables since they provide many benefits to users.
Key Market Trends
Healthcare Sector Expected to Occupy the Highest Market Share
The demand for wearables with health applications is firmly on the surge in the United Kingdom. As patients are increasingly utilizing wearable technology and mobile apps in health monitoring and management, healthcare service administration is changing. The digitization of healthcare is being realized, with many providers and patients already utilizing AI-powered healthcare services, including home-based diagnostics, and virtual health assistants.
Increasing Adoption of Wearable Devices for Continuous Monitoring of Vital Signs
Wearable devices have emerged as rapidly developing technologies that have the potential to change people's lifestyles and improve their wellbeing, decisions, and behaviors as well as enhance core business processes.
- Owing to the growing penetration rates of urbanization, the need for aesthetically appealing advanced featured products with the capacity to better serve consumers' daily necessities, such as time schedules, have propelled the market for smartwatches, globally.
- Beating the 2019 list is the Apple series four that comes amongst the few watches with an inbuilt electrocardiogram to alert in case one is receiving a heart complication. Additionally, the watch automatically recognizes panic, for instance, in case of a fall, which will trigger it to send help notifications to the physician and close family members.
- Wearable Devices from other popular models like Fitbit, Huawei, Garmin, and Samsung, can keep track of day's activities such as the distance covered and stay in track of health goals more so when one wants to reduce calorie intake and burn fats.
- Moreover, the vast millennial population has been embracing smartwatches, owing to enhanced spending for their regular work hours tracking as well as luxury standards. For instance, European millennials are predicted to witness an average expenditure growth by 18%, to above USD 53,000, by 2022.
- Additionally, various efforts are being taken by the players in the market to get a competitive edge in this fast-growing market, mainly catering to the need of the millennial generation population. In 2018, Fossil Group launched seven next-generation smartwatches, magnifying the technological innovations on the wrist, while keeping the aesthetically fashioned designs for Indian millennials.
- With growing cases of health issues that are primarily attributed to the sedentary lifestyle, the use of fitness trackers is now becoming even more popular. Xiaomi Mi Band 2S can keep track of health even when you are asleep, which makes it easier for the doctor to make an accurate diagnosis.
- There is an accelerating demand in the use of medical wearables owing to its affordability and comfort as opposed to regular checkups that not only comes at a cost but also expensive. Google smart lenses, and Cloud DX vitality, health patch MD are competent in detecting body changes and analyzes the data and cautions individuals of contracting diseases.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.3 Market Drivers
4.4 Market Restraints
4.5 PESTLE Analysis
4.6 Impact of COVID-19 on the Wearables industry in the United Kingdom
4.7 Wearable Sensor Landscape Analysis - List of emerging startups and Investor Activity
4.8 Market Opportunities
5 MARKET SEGMENTATION
5.1 By Type
5.2 By Application Type (Wearable Sensors)
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Infineon Technologies UK Ltd
6.1.2 STMicroelectronics Ltd
6.1.3 Panasonic UK Ltd.
6.1.4 NXP Semiconductors UK Ltd
6.1.5 TE Connectivity Ltd
6.1.6 Siemens PLC
6.1.7 Texas Instruments UK
6.1.8 Analog Devices International
6.1.9 ABB Ltd.
6.1.10 Ilika PLC
6.1.11 Knowles Precision Devices
6.1.12 dorsaVi Ltd
6.1.13 Maxim Integrated Products UK Ltd
6.1.14 DFRobot (RobotShop)
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/t7s2k0
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