The report "Body Area Network Market by Device Type (Wearable, Implantable), Component (Displays, Application Processors, Memory, Electromechanicals, Interfaces, Sensors), Application (Medical, Fitness & Sports, Security, Military), and Region - Global Forecast to 2024", is projected to grow from USD 9.1 billion in 2019 to USD 15.8 billion by 2024; it is expected to record a compound annual growth rate (CAGR) of 11.7%. Increased use of smart devices for tracking physical fitness and its availability at low-cost are major driving factors of the market. Utilization of advanced technologies to reduce the growing healthcare expenditure and adoption of IoT in healthcare applications provide an opportunity for the market.
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This research report categorizes the market, By Device Type, Component, Application, and Geography
Based on Device Type, the body area network market has been classified into the following segments:
- Wearable Devices
- Implantable Devices
Based on Components, the body area network market has been classified into the following segments:
- Displays
- Application Processors & Memory Modules, and Pulse Generators
- Electromechanicals
- Communication & Interface Components
- Power Management Units
- Sensors
- Others
Based on the Application, the body area network market has been classified into the following segments:
- Medical, Fitness, and Sports
- Military
- Security
Based on Regions, the body area network market has been classified into the following segments:
- North America
- Europe
- APAC
- RoW
North America to exhibit the largest market share for body area network through the course of the forecast period
Factors such as increasing penetration of smart devices such as smartwatches, fitness trackers, implantable devices; rising prevalence of chronic diseases and lifestyle-related disorders, growing healthcare costs, and escalating demand for better healthcare services drives the growth of body area network market in North America. Apple, Fitbit, Garmin, Fossil, and Medtronic are among the major players of the body area network market in North America.
Apple Inc. (US), Fitbit (US), Samsung Electronics Co., Ltd. (South Korea), Garmin Ltd. (US), Fossil Group, Inc. (US), Xiaomi Corporation (China), Huawei Technologies Co., Ltd. (China), Casio Computer Co., Ltd. (Japan), LG Electronics Inc. (South Korea), Medtronic plc (US), Bragi (Germany), Polar Electro Oy (Finland), Mobvoi Information Technology Company Limited (China), GOQii (US), Suunto Oy (Finland), Withings (France), AsusTek Computer Inc. (Taiwan), Abbott Laboratories (US), Huami Corporation (China), and Matrix Industries (US) are among a few major players in the body area network market.
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