Sensors & Actuators: key parts shaping the future of the smart wearables industry

An article written by Clyde Midelet, Ph.D., and Pierre Delbos, both Technology & Market Analysts, Sensing and Actuating, in the Photonics & Sensing division at Yole Intelligence, part of the Yole Group for Electronics Today Magazine.

The wearables industry is broad, diversified, and growing rapidly. Global consumer megatrends, new habits, and tools for medicine – including teleconsulting, remote patient monitoring, preventive medicine, and improvements in connectivity in Industry 4.0 by 5G, are boosting this market. Smart wearables are widely used in consumer, medical, and industrial markets. The applications are diverse, with healthcare, wellness, fitness, and true wireless stereo (TWS) being the main ones. The total number of smart wearables was 949 million units in 2022, and we forecast it will reach 1.2 billion units in 2028 with a 4% CAGR_22-28 (by volume). In terms of sensors and actuators, this represents a global market of almost US$3.58 billion in 2022, expected to grow to US$5.7 billion, with a ~8% CAGR_22-28. Nearly 80 % of the sensors & actuators market for smart wearables (by value) is held by 15 players. The top three sensor & actuator companies are Bosch, STMicroelectronics, and ams Osram.

It is worth noting that the increase in the number of smart wearables is not keeping pace with the growth of sensors and actuators, resulting in more advanced and functional products. Three main wearables systems are expected to boost the wearables industry in the coming five years…

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Source: https://electronics-today.co.uk/