Global Body Area Network Market is valued at approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2028. A body area network is also known as a body sensor network or wireless body area network or a medical body area network, which is a wireless network of wearable computing devices. This network deals with detecting and monitoring the overall system of the human body and uses a low-power wireless device, which is highly adopted for personalized medicine, personal safety, health & wellness monitoring, and sports training. The growing use of wireless networks, rising use of smart devices for tracking physical fitness, and increasing incidence of chronic diseases and other lifestyle-related disorders are the major driving factors for the global market growth. For instance, according to Statista, the total shipments of a fitness tracker in 2020 were estimated to account for 78 million units, which is likely to reach 127 million units by the year 2025. Thereby, the rising use of fitness trackers among the population is propelling the demand for Body Area Network, which is impelling the market growth around the world. However, rising security and privacy concerns and the imposition of stringent norms and regulations impede the growth of the market over the forecast period of 2022-2028. Also, the growing adoption of IoT in healthcare applications and the rising use of advanced technologies to reduce constantly increasing healthcare expenditure are anticipated to act as catalyzing factors for the market demand during the forecast period.
The key regions considered for the global Body Area Network Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the increasing healthcare expenditure and rising government initiatives to promote digital health records. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the growing prevalence of chronic diseases, and the rising penetration of 3G and 4G networks, would create lucrative growth prospects for the Body Area Network Market across the Asia-Pacific region.
Major market players included in this report are:
Apple Inc.
Fitbit
Samsung Electronics Co., Ltd.
Garmin Ltd.
Fossil Group, Inc.
Xiaomi Corporation
Huawei Technologies Co., Ltd.
Casio Computer Co., Ltd.
LG Electronics Inc.
Medtronic plc
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Device Type:
Wearable Devices
Implantable Devices
By Components:
Displays
Communication & Interface Components
Sensors
Others
By Application:
Medical
Military
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Body Area Network Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
