Published Date: 30-Sep-2019
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According to a new report Global Body Area Network Market, published by KBV Research, The Global Body Area Network Market size is expected to reach $17 billion by 2025, rising at a market growth of 11.6% CAGR during the forecast period. Few of the key drivers of the market are accelerated utilization of smart devices to monitor physical fitness and its supply at minimal cost, gradual advances in medical devices along with communication technologies, supporting government and hospital initiatives to promote digital healthcare.
In latest years, worldwide sales of wearables and implantable devices have grown tremendously. Wearable devices accounted for a major share in the revenue of the body area network market. The requirement for wearables attached through body area networks in the sports sector is projected to reach new levels in the years to come. Smart bands, smart watches, and smart earphones are the various technologies emerging in wearable devices.
The North America market dominated the Global Body Area Network Communication and Interface Components Market by Region 2018, growing at a CAGR of 10 % during the forecast period. The Europe market is expected to witness a CAGR of 10.1% during (2019 - 2025). Additionally, The Asia Pacific market is expected to witness a CAGR of 11.8% during (2019 - 2025).
The Medical, Fitness, and Sports Application market dominated the Global Body Area Network Market by Application 2018, growing at a CAGR of 10.8 % during the forecast period. The increasing knowledge among users of fitness surveillance is speeding up demand for smart bands. Due to the significance of tracking health parameters, smart watches have gained enormous market traction. The Security market is expected to witness a CAGR of 12.8% during (2019 - 2025). Additionally, The Military market is expected to witness highest CAGR of 13.4% during (2019 - 2025).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Apple, Inc., Samsung Electronics Co., Ltd., LG Corporation (LG Electronics), Medtronic PLC, Abbott Laboratories, Casio Computer Co., Ltd., Huawei Technologies Co., Ltd., Xiaomi Corporation, Fossil Group, Inc., Garmin Ltd. and Fitbit, Inc.
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