According to a new report published by UnivDatos Markets Insights, the Body Worn Temperature Sensor Market was valued at more than USD xx million in 2021 and is expected to grow at a CAGR of around 25% from 2022-2028. The analysis has been segmented into Type (Smart Watch, Biosensors, Wearable Patches, Hand Worn Terminals, and Others); End User (Healthcare and medical, Military, Infotainment, and others); Region/Country.
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The body worn temperature sensor market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the body worn temperature sensor market. The body worn temperature sensor market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the body worn temperature sensor market at the global and regional levels.
Market Overview
The growing demand for body worn temperature sensors can be attributed to the increased technological advancements and expanding need for portable medical equipment. For instance, the market for temperature sensors is expanding mostly due to the rising popularity of portable and wearable healthcare devices integrated into normal consumer products. Additionally, the global body worn temperature sensor can be attributed to the increased surge in disorders such as cardiovascular, neurological, and pulmonary illnesses which rising the adoption of inorganic growth strategies among key industry players across the globe. For instance, in December 2022, German chipmaker Infineon Technologies AG will amplify its push to tap into the opportunities of low carbon and digitalization in China. To ensure that the availability of medical services in digitized form is in line with saving time and lives. Furthermore, the rise in the aging population and declining lifestyle are projected to increase the demand for portable medical equipment, therefore, expected to drive the market for body worn temperature sensor market in the coming years.
Some of the major players operating in the market are Panasonic Holdings Corp, Texas Instruments Incorporated, Infineon Technologies AG, Siemens AG, Sensirion AG, Heimann Sensor GmbH, AMSYS GmbH Co. KG, Analog Devices, Inc, Allegro MicroSystems, Inc, and STMicroelectronics, among others.
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. Body worn temperature sensor products demand changed positively during the COVID-19 pandemic. The rapid growth in smartphone and smart wearable devices supported the growth of the temperature sensors market. The healthcare industry also witnessed significant demand for thermometers, MRI machines, and imaging diagnostics equipment which have temperature sensors installed in them. The pandemic has increased the importance of self-care and mental health, as well as raised awareness of personal wellness.
The global body worn temperature sensor market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on type, the market is segmented into Smart Watch, Biosensors, Wearable Patches, Hand worn Terminals, and Others. The smartwatch segment accounted for a significant market share and is estimated to grow rapidly during the projected timeframe. Globally, a sizable portion of the young population uses a smartwatch for various functions such as fitness tracking which help monitor health. For instance, a variety of sensors such as accelerometers can track activity levels and offer insights based on health goals. It tells more about the movements of the body and provides a measure of step counts and activity levels by detecting resistance to small streams of electrical currents transmitted by the watch.
· Based on end user, the market is fragmented into Healthcare and Medical, Military, Infotainment, and others. The healthcare and medical segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. Growing concern regarding chronic diseases coupled with the increasing market penetration in the healthcare segment is also expected to favorably impact the body worn temperature sensors market growth. Technology and services in the healthcare industry are advancing quickly due to modern technological innovations. A recent advancement in this field is remote patient monitoring, which has several benefits in an increasing world population with rising health issues.
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Body worn temperature sensor Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific)
· Rest of the World
North America constitutes a major market for the body worn temperature sensor industry owing to increasing adoption of smartwatches, fitness bands, and wearable medical monitoring devices. The market is anticipated to increase as a result of rising demand for wearable technology across a variety of application sectors. Due to the more portable and compact nature of these temperature sensors, the market is anticipated to grow over the forthcoming years. Additionally, Asia-Pacific is expected to witness significant growth during the forecast period because of the rapid urbanization and digitization in the region.
The major players targeting the market include
· Panasonic Holdings Corp
· Texas Instruments Incorporated
· Infineon Technologies AG
· Siemens AG
· Sensirion AG
· Heimann Sensor GmbH
· AMSYS GmbH Co. KG
· Analog Devices, Inc
· Allegro MicroSystems, Inc
· STMicroelectronics
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the body worn temperature sensor market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the body worn temperature sensor market?
• Which factors are influencing the body worn temperature sensor market over the forecast period?
• What are the global challenges, threats, and risks in the body worn temperature sensor market?
• Which factors are propelling and restraining the body worn temperature sensor market?
• What are the demanding global regions of the body worn temperature sensor market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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