Market Size of NA Wearable Sensors Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 45.60 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Wearable Sensors Market Analysis
The North America Wearable sensor market is expected to register a CAGR of 45.6% during the forecast period 2021 - 2026. North America is the leader in the market for wearable sensors. The market in this region is estimated to increase in the coming years because of the increased usage in different sectors like healthcare, travel, military, sports, and fitness, etc.
- The market is driven by the rising awareness of health and fitness, where wearable sensors play a vital role. Moreover, due to investments in research and development, the reducing price of the components used to manufacture the wearable sensors is making the wearable devices affordable.
- Increasing demand across various application sectors such as wearable technology for fitness, healthcare, and security is driving the North American wearable sensors market to grow at a rapid rate.
- During the COVID-19 outbreak, the demand for wearable devices' sensors that offer real-time data to frontline healthcare workers and let them quickly screen individuals with a high temperature skyrocketed.
- However, the ongoing chip shortage is expected to result in a decline in chip availability. As fewer products become available to buy, and with increasing demands, prices of wearable sensors and wearable sensor-based devices are expected to increase.
