Technavio Expects the Global Motion Sensor Market for Wearables to Reach 279 Million Units by 2020

LONDON--()--According to the latest market research study released by Technavio, the global motion sensor market for wearables is expected to reach 279 million units by 2020, growing at a CAGR of over 26% during the forecast period.

This research report titled ‘Global Motion Sensor Market for Wearables 2016-2020’, provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecast for various market segments and all geographical regions.

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The report segments the global motion sensor market for wearables by application and can be divided into four broad categories:

  • Smart watches
  • Smart bands
  • Smart clothing
  • Smart glasses

Smart watches

The smart watches segment was the largest contributor to the market, accounting for around 58% of global motion sensor shipments.

The introduction of low-cost smart watches, such as Asus ZenWatch 2, along with an increase in the production yield will lead to a decline in the price of smart watches during the forecast period. The declining average selling price (ASP) of smart watches is likely be the major growth driver for the global smart watches market.

“As all smart watches are integrated with motion sensors such as accelerometers and gyroscopes, increasing popularity of smart watches augurs well for the global motion sensors market,” says Sunil Kumar Singh, lead analyst at Technavio for embedded systems research.

Smart bands

In 2015, the unit shipment of motion sensors for smart bands exceeded 34 million units, and is expected to grow at a CAGR of over 13% during 2015-2020.

Technavio expects that smart bands will create huge opportunities for motion sensor vendors in the wearables market during the forecast period. Many companies such as Fitbit, Xiaomi, Garmin, Jawbone, and Samsung have ventured into the smart bands market because of its high growth potential.

Smart clothing

Technavio expects the market for smart clothing to witness steady growth because vendors have started focusing on developing smart clothing for the mass market. This will accelerate the unit shipments of motion sensors embedded in smart clothing. The unit shipment of motion sensors for smart clothing is expected to exceed 23 million units by 2020, growing at a CAGR of over 90% during 2015-2020.

Smart clothing is gaining traction, particularly in the fashion and lifestyle, military, and sports sectors. Vendors in smart clothing are continuously working on smart clothing technology for physiological monitoring. For instance, in 2013, Heapsylon launched the Sensoria Smart Sock for sports applications. This wearable is integrated with accelerometers, can measure limb movement to calculate the step count. In 2014, Adidas and Numetrex developed the adidas miCoach sports bra with a sensor woven into the fabric of the garment for heart rate monitoring.

Smart glasses

Smart glasses are fitted with a small display that exhibits images. Motion sensors play a crucial role in smart glasses, accelerometers for measuring acceleration and gyroscopes for orientation.

The market for smart glasses did not take off as expected because of factors such as low awareness among consumers, high ASP of smart glasses, and limited application areas. “However, smart glasses will witness a high growth rate during the forecast period because of the hype created by Google Glass. This will result in increasing demand for smart glasses among both enterprise users and consumers,” says Sunil.

Companies such as Atheer Labs, Epson, and Vuzix are experiencing high demand for smart glasses among enterprise users. Vendors such as Sony, Samsung, and LG, with huge financial power and market reach, are on the verge of releasing their first developer-version products. Technavio expects that smart glasses will surpass smart watches in terms of the unit shipment of motion sensors by 2020.

Technavio hardware and semiconductor research analysts highlight the following six vendors as the top contributors to the global motion sensor market for wearables:

  • Bosch Sensortec
  • Freescale Semiconductor (acquired by NXP in December 2015)
  • InvenSense
  • Kionix
  • MEMSIC
  • STMicroelectronics

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market research study released by Technavio, the global motion sensor market for wearables is expected to reach 279 million units by 2020, growing at a CAGR of over 26%.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com