Artificial Intelligence
Worldwide Wearable Sensors Industry to 2026 – North America Expected to Occupy a Significant Market Share
Dublin, Feb. 08, 2021 (GLOBE NEWSWIRE) — The “Wearable Sensors Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The market for wearable sensors has registered a CAGR of 19.15% during the forecast period (2021 – 2026). Primarily, owing to digitalization, the electronic industry has prospered significantly. Thereby, driving the market for wearable technology devices, which are widely used for self-health monitoring applications.
Increasing spending on consumer electronic products, increasing urbanization, and the improving lifestyles of the growing population have raised the health and safety awareness among people, which, in turn, is also stimulating the growth of wearable devices. Also, the affordability and ergonomics offered by advances in miniaturized electronics, the proliferation of smartphones and connected devices, and the increasing need for low power, smaller, lighter sensors, and enhanced performance are some of the factors stimulating the growth of wearable devices, such as Fitbit, ear wears, and smartwatches.
For instance, smartwatch unit sales increased from 5 million in 2014 to 141 million in 2018, according to the Consumer Technology Association. This growth is mainly attributed to the growing awareness of personal health. Additionally, there has been a significant increase in the number of wearable devices sold over the past few years. This trend has contributed to the increasing adoption of sensors in these wearable devices. Besides, growth in connected wearable devices, from 325 million devices in 2016 to 593 million devices in 2018, according to the Cisco Systems, holds a great deal of promise, specifically in healthcare applications.
With various industries investing significantly in IoT devices, coupled with the declining usage of IoT sensors, a significant increase in the demand for wearable devices, across multiple sectors, is expected. This is expected to significantly boost the market growth for wearable sensors in the foreseeable future.
Key Market Trends
Healthcare and Fitness Sector Expected to Occupy the Highest Market Share
One of the most transformative shifts in the wearable sensor market can be observed in the healthcare sector. Digitization of products, services, and commerce models is democratizing the current healthcare systems, integrating them with the latest technologies. This trend is increasing the demand for connected health technologies, such as wearables, telehealth, artificial intelligence, virtual reality, and others, which support targeted health and well-being services.
- From tracking air quality through inhaler use to detecting breast cancer with bra inserts, healthcare wearable devices are used in different applications for personalized treatment or therapy. Lower regulatory hurdles, faster time to market, unmet needs of doctors to continuously obtain medical quality data from their patients, early diagnosis, and some more factors continue to be the primary drivers for the market.
- The current market is dominated by large consumer health wearable companies, such as Fitbit, Apple Watch, Samsung Galaxy Gear S, Misfit, Xiaomi, and several others. There is substantial competition in the market, among the major players. One example is the case of Microsoft, a pioneer in wearable space that has recently reported that it will discontinue its Band fitness tracker.
- There have been several advancements in the healthcare sector, such as introducing hearables or wireless computing earpieces, and brainwave-reading technology. For instance, continuous glucose monitors (CGMs) are becoming increasingly popular with diabetic patients, who can wear the device at all times to keep an eye on their glucose levels.
North America Expected to Occupy a Significant Market Share
North America has the highest penetration of wearable sensors, as the region is an early adopter of newer technology. Increasing demand across various application sectors, such as wearable technology for fitness, healthcare, and security, is driving the lucrative growth of the North American wearable sensors market.
- The region’s dominance is due to the push to maintain healthy lifestyles in countries, such as the United States and Canada. Also, the increasing demand for wearable devices in the region, in the consumer products sector, is due to the rising demand for wristwear and bodywear products in the market. The rapid increase in technological advancements in this region also contributes to the growth of the North American wearable sensors market.
- Also, the increasing developments and innovations by US-based companies have contributed significantly to the market in the region, and specifically in the United States, resulting in increasing usage of wearable devices. In the United States, wearables have proven to be popular among consumers and are steadily expanding into new industries, including healthcare. For instance, researchers at Northwestern University generated small, sticker-like wireless biosensors that monitor important vital signs, without the need for large equipment and wiring.
Competitive Landscape
The wearable sensors market comprises several sensor providers, with most of them based in North America, followed by Europe, holding a majority share.
With the entrance of key players, such as Samsung, Apple, and Microsoft, in the wearable device technology market, the demand for wearable sensors in the consumer electronics sector has multiplied rapidly. This growing demand is a result of the strong demand from young customers, increasing the competition among the existing players. Hence, many companies are continuously evolving and innovating to match demand. For instance, Fitbit, one of the major players in wearable device technology, in the market, is an excellent example of increasing demand for fitness trackers.
- Also, Texas Instruments is significantly focussed on developing a new sensor technology, which finds applications in wearables and other smart devices. Its HDC2010 low power humidity and digital temperature sensors, innovated in 2017, have complemented its product offerings.
- Recently, Kinexon developed a wearable technology that enables the seamless detection of motion data with a microsensor, which is attached to the athlete’s back. The further increased emphasis on sports analytics is expected to drive the market growth.
- Also, in January 2018, Infineon Technologies introduced the 3D image sensor chip based on Time-of-flight (ToF) technology. It enables the world’s smallest camera module for integration in smartphones, with a footprint of less than 12 mm x 8 mm, including the receiving optics and VCSEL (Vertical-Cavity Surface-Emitting Laser) illumination.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain / Supply Chain Analysis
4.3 Industry Attractiveness – Porter’s Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET DYNAMICS
5.1 Introduction to Market Dynamics
5.2 Market Drivers
5.2.1 Increasing Awareness about Health and Fitness
5.2.2 Increasing Trend of Smart Wearable Devices
5.3 Market Restraints
5.3.1 High Costs Associated with Gadgets
5.4 Market Opportunities
6 MARKET SEGMENTATION
6.1 Type
6.1.1 Temperature
6.1.2 Pressure
6.1.3 Image/Optical
6.1.4 Motion
6.1.5 Other Types of Sensors
6.2 Application
6.2.1 Health and Wellness
6.2.2 Safety Monitoring
6.2.3 Sports and Fitness
6.2.4 Other Applications
6.3 Geography
6.3.1 North America
6.3.1.1 United States
6.3.1.2 Canada
6.3.2 Europe
6.3.2.1 Germany
6.3.2.2 United Kingdom
6.3.2.3 France
6.3.2.4 Rest of Europe
6.3.3 Asia-Pacific
6.3.3.1 Japan
6.3.3.2 China
6.3.3.3 India
6.3.3.4 Rest of Asia-Pacific
6.3.4 Latin America
6.3.5 Middle East & Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 STMicroelectronics
7.1.2 Infineon Technologies AG
7.1.3 Texas Instruments Incorporated
7.1.4 Analog Devices Inc.
7.1.5 InvenSense Inc.
7.1.6 Freescale Semiconductor Inc
7.1.7 Panasonic Corporation
7.1.8 NXP Semiconductors NV
7.1.9 TE Connectivity Ltd
7.1.10 Bosch Sensortec GmbH (Robert Bosch GmbH)
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
8.1 Investment Analysis
8.2 Future Outlook
For more information about this report visit https://www.researchandmarkets.com/r/hn3363
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Artificial Intelligence
Red light therapy for repairing spinal cord injury passes milestone
BIRMINGHAM, England, May 6, 2024 /PRNewswire/ — Patients with spinal cord injury (SCI) could benefit from future treatment to repair nerve connections using red and near-infrared light.
The method, invented by University of Birmingham scientists and patented by University of Birmingham Enterprise, delivers light directly to the site of the injury.
Their latest research, published in Bioengineering and Translational Medicine, determined an optimal ‘dose’ for this novel approach, and showed it can deliver therapeutic improvements including significant restoration of sensation and movement, and regeneration of damaged nerve cells.
Researchers led by Professor Zubair Ahmed used cell models of SCI to determine the frequency and duration of light required to achieve maximum restoration of function and stimulate nerve cell regrowth.
They found delivery at a wavelength of 660nm for one minute a day increased cell viability (the number of live cells) by 45% over five days’ treatment.
Professor Ahmed said: “The effect of 660nm light was both neuroprotective, meaning it improved survival of nerve cells, and neuroregenerative, meaning it stimulated nerve cell growth.”
The researchers also investigated the effect of light therapy in preclinical models of SCI, using an implantable device and transcutaneous delivery with the light source placed against the skin. They showed comparable results for both methods, with a one-minute dose of 660nm light, delivered daily for seven days resulting in reduced tissue scarring, increased levels of proteins associated with nerve cell regeneration, improvements in the connections between cells and significant functional recovery.
This is the first time transcutaneous and direct light delivery have been compared in SCI. Professor Ahmed said: “To make light therapy viable for treating SCI in humans an implantable device will be required, to provide line of sight to damaged tissue and the opportunity for greater accuracy and standardise dosing without impedance due to the thickness of the skin and other tissues surrounding the spinal cord.”
The researchers are planning to develop an implantable device for use in humans with traumatic SCI. They have already received further funding and are seeking commercial partners or investors to develop a prototype device to take into first-in-man clinical trials.
Full release here.
University of Birmingham Enterprise helps researchers turn ideas into products and services that meet real-world needs. Follow us on LinkedIn and X.
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Media enquiries: Ruth Ashton
Commercial enquiries: Veemal Bhowruth
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Artificial Intelligence
TerraPay Continues to Attract Top Industry Talent, Names Hassan Chatila as Vice President and Global Head of Network
LONDON, May 6, 2024 /PRNewswire/ — TerraPay, a leading global money movement company, is excited to announce the appointment of Hassan Chatila as Vice President – Global Head of Network.
This key addition to TerraPay’s global network leadership also marks a critical step in the company’s ongoing strategy to simplify and streamline global money movement for businesses and individuals alike, underscoring its commitment to enhancing its network capabilities.
With over 20 years of experience in the cross-border payments, Hassan brings with him a rich legacy of leadership and innovation. Before joining TerraPay, he served as the Global Head of Western Union’s Account Payout Network, where he played a pivotal role in expanding and optimizing the network to support seamless global transactions. His impressive career portfolio also includes key leadership roles at Earthport and Temenos, where he led significant payments transformation initiatives and drove substantial growth.
In this new role at TerraPay, Hassan will lead the expansion and optimization of TerraPay’s global payout network. He will work closely with internal and external stakeholders to enhance the network’s capabilities, ensuring that TerraPay continues to offer its partners transparent and efficient payment solutions.
Welcoming Hassan to the team, TerraPay Founder and CEO, Ambar Sur, said, “It gives me great pleasure to welcome Hassan on board. As an industry expert, he comes with a highly reputable cross-border payment expertise and deep leadership experience. On TerraPay’s journey of growth, Hassan’s appointment is a critical step in furthering our network expansion goals. I look forward to working together and further deepen TerraPay’s position as a global money movement leader.”
Hassan Chatila, VP – Global Head of Network, TerraPay, commented on his new role, saying, “I am thrilled to join TerraPay at this pivotal time. Over the years, TerraPay has built an expansive global money movement network driven by the mission to build a borderless world of payments. I look forward to leveraging my experience to further develop our network capabilities, create new opportunities across markets and help TerraPay achieve its ambitious goals.”
For media inquiries, please contact [email protected]
About TerraPay
TerraPay simplifies global money movement – by providing a single connection to the most expansive cross-border payments network regulated in 31 global markets and enabling payments to 144 receive countries, 210+ send countries, 7.5Bn+ bank accounts and 2.1Bn+ mobile wallets. TerraPay is on a mission to connect a borderless financial world, making moving money everywhere instant, reliable, transparent and fully compliant. TerraPay pushes the boundaries for global businesses – ranging from banks, fintechs and money-transfer operators to travel businesses, creator economy platforms and e-commerce marketplaces – while driving financial inclusion in even the most inaccessible markets. Founded in 2014, TerraPay is headquartered in London, with global offices in Bangalore, Dubai, Miami, Bogota, Dar es Salaam, Kampala, Hague, Dakar, Joburg, Nairobi, Milan, Singapore and is expanding rapidly, having received funding from leading investors, including the IFC (the World Bank), Prime Ventures, Partech Africa and Visa.
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Artificial Intelligence
Aareon invests up to €100m in AI-powered proptech Stonal
PARIS, May 6, 2024 /PRNewswire/ — Stonal, the leading data management platform for real estate owners and investors in Europe, has announced a strategic investment by Aareon, Europe’s trusted provider of SaaS solutions for the property industry, to accelerate its European expansion.
Founded in 2017 by Michel Tolila, the current executive chairman, and Jean-Maurice Oudot, Stonal’s mission is to deliver data quality at scale for asset owners and investors. Its collaborative AI-powered platform extracts information from documents and blueprints, creating an accurate and up-to-date database on buildings open to stakeholders such as property managers, surveyors, and insurers. Its decision-making modules offer ESG reporting and CapEx planning to increase returns, improve productivity and preserve value.
Since its inception, the company has quickly expanded into residential and commercial real estate. In early 2024, Stonal launched its proprietary StonalGPT, the first generative artificial intelligence solution designed for real estate owners and investors, establishing itself as one of the pioneers in this field.
Robin Rivaton, CEO of Stonal: “The real estate industry, both residential and commercial, is at a crossroads. AI is a massive opportunity to reshape the sector in a remarkable way, but it still requires a significant amount of data on which to train these systems. Thanks to the strategic partnership with Aareon we will reach such a scale and accelerate our European expansion.”
Aareon is the trusted provider of SaaS solutions for the European property industry. With locations across France, Germany, the Netherlands, Spain, Sweden, and the United Kingdom, Aareon serves 13,000 customers totalling 18 million units.
Harry Thomsen, CEO of Aareon: “Investing in Stonal is a strategic step to strengthen our “Aareon Sustain” product portfolio and amplify our proficiency in AI technology across the Aareon Group. With an expected uptick in the need for robust data management solutions, this collaboration not only reinforces the existing partnership between Stonal and Aareon in France but also equips us to meet our customers’ needs and deliver unrivalled innovation and operational excellence.”
Aareon’s investment in Stonal reflects the growing appetite of the real estate sector for technological solutions that enable it to address the major challenges it faces, applying to both larger companies and smaller ones. Expanding ESG expectations, increased CapEx for greener properties, stringent building safety regulations, higher vacancy due to remote work for offices, all converge in the context of high interest rates. The capacity to evaluate risks and make well-informed decisions promptly is now more crucial than ever.
Stonal was advised on this deal by Lazard, Aareon by Vulcain.
About StonalFounded in 2017, Stonal is the leading data management platform for real estate owners and investors in Europe. It helps more than 130 clients, REITs, insurers, housing organisations, asset managers, family offices, to manage a combined portfolio of more than 200 million sqm (including 1.6 million housing units) across all Europe. With 150 employees, Stonal is present in France and the UK.
Contact: Perrine ABRARD, Stonal CMO [email protected]
About AareonAareon is Europe’s trusted provider of SaaS solutions for the property industry, leading the charge towards a digital future. Passionately committed to connecting people, process, and property, Aareon brings the ecosystem closer together. Our Property Management System, powered by smart software solutions, promotes efficient property management and maintenance, enabling superior digital experiences for everyone involved. In our continuous pursuit of innovation, Aareon remains the industry’s reliable partner, inspiring positive change for sustainable spaces for all.
With a dedicated team of around 2,000 professionals, Aareon achieved pro forma revenues of €410 million and a pro forma Adjusted EBITDA of €137 million in 2023.
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