Global Wearable Sensors Market Size and Share Analysis 2023-2028

Market Overview

The Wearable Sensors Market is projected to reach a size of USD 6,001 million by 2028, growing at a compound annual growth rate (CAGR) of 12.41% during the forecast period of 2023-2028, with an estimated value of USD 3,343 million in 2023.

Wearable sensors are portable sensors that can be used independently or integrated into 3D sensing units to measure various functions. They have gained popularity in the healthcare and diagnosis industry, where parameters like blood pressure, heart rate, and body temperature are crucial. A wide range of wearable sensors are available today, including sleep sensors, smartwatches, wearable patches, hand-worn terminals, and smart clothing.

Product Type

Market Report

No. of Pages


Release Date

April 2023

Base Year


Forecast Period


Market Size

USD 3.5 billion in 2021

Market Segments

Type, Application, and Geography



No. of Companies Mentioned


The electronics industry has experienced significant growth, primarily driven by digitalization, which has led to increased demand for wearable technology devices used for self-health monitoring applications.

Wearable sensors play a crucial role in wearable devices as consumers show a growing interest in real-time motion-sensing activities such as step counting and tracking walking distance. By analyzing the generated data, users can set fitness and health goals and make informed decisions. With advancing sensor technology, wearables are becoming smarter and gaining popularity among consumers.

Increasing spending on consumer electronic products has also contributed to the growth of wearable devices. Additionally, the growing urban population and changing lifestyles have raised awareness about health and safety, further fueling the demand for wearable devices like fitness trackers, ear-worn gadgets, and smartwatches.

The miniaturization of sensors and related components, along with advancements in smart wearables’ advanced function sensors and improvements in battery size and efficiency, are key drivers boosting the market for wearable motion sensors.

However, the rising costs of components and devices have resulted in higher prices, limiting adoption in the market. While low-cost segments like smartwatches and fitness trackers attract significant attention from consumers, other devices such as smart footwear, eyewear, and body wear products have higher price points and lower adoption rates. The current high pricing of most wearable technologies negatively impacts their overall market adoption.

The COVID-19 pandemic has had a favorable impact on the market for wearable sensors, highlighting the importance of utilizing digital infrastructure for remote patient monitoring. Wearable sensors can aid in disease detection and tracking individual and population health, especially during situations when developing viral tests and vaccines takes time.

Market Segmentation

The market is segmented based on various factors, including type, application, and geography.

Segmentation by Type
Chemical and Gas
Other Types of Sensors

Segmentation by Application
Health and Wellness
Safety Monitoring
Sports and Fitness
Other Applications

Segmentation by Geography
North America – United States, Canada
Europe – United Kingdom, Germany, France, and Rest of Europe
Asia-Pacific – China, Japan, India, and Rest of Asia-Pacific
Latin America
Middle East and Africa

The Chemical and Gas segment held the largest market share of 27.33% in 2022, and it is projected to experience a compound annual growth rate (CAGR) of 14.66% over the forecast period. Wearable chemical sensors have proven to be valuable tools for studying new biomarkers in different body fluids like sweat, saliva, tears, and interstitial fluid. These sensors offer a real-time and non-invasive alternative to traditional laboratory blood analysis. They have the potential to enable remote at-home individualized health monitoring, which could significantly reduce healthcare costs.

In June 2022, researchers developed a sensor made of a gold microfiber matrix that can be utilized for analyzing biological signals on the skin using Raman spectroscopy. This biosensor consists of inert gold, ensuring that it can be worn without causing irritation or discomfort. The research was conducted by a team from the Department of Chemistry at the University of Tokyo. The sensor operates based on Raman spectroscopy, a process in which laser light focused at the sensor undergoes slight alterations depending on the chemicals present on the skin. The sensor demonstrates high sensitivity and can be finely tuned for various biomarkers, while also being robust enough for practical application.

The Sports & Fitness segment held the largest market share of 48.27% in 2022, and it is projected to experience a compound annual growth rate (CAGR) of 12.19% over the forecast period. The increasing demand for wellness monitors and fitness trackers is a significant driver behind the growth in shipments of wearable sensors worldwide. Consumers are becoming more aware of the features provided by sensor-based devices, such as remote monitoring of wellness and fitness. According to Cisco Systems, North America recorded the highest number of 5G connections made using wearable devices in 2022. Together, North America and Asia accounted for approximately 70% of the global wearable 5G connections in the same year.

Wearable performance devices have become increasingly accessible to both the general population and athletic teams. Technological advancements have allowed individual endurance athletes, sports teams, and physicians to monitor functional movements, workloads, and biometric markers to enhance performance. This increased growth is driving the market forward.

Technology companies are making significant progress in developing and promoting wearable gadgets for athletic teams. Companies like Zephyr Technology, Viperpod, Smartlife, miCoach, and Catapult are reshaping how athletic coaches make decisions, transforming the way sports activities are played, and improving the performance, health, and safety of professional sports players. These technologies are also rapidly expanding their presence from the professional sports arena into the consumer market.

In June 2022, Garmin Ltd introduced the Forerunner 955 Solar, the company’s first dedicated running smartwatch featuring solar charging. The Forerunner 955 Solar incorporates a Power Glass solar charging lens, providing athletes with up to 20 days of battery life in smartwatch mode and up to 49 hours in GPS mode. The smartwatch boasts an always-on, full-color display that remains readable even in direct sunlight. Its responsive touchscreen and traditional 5-button design offer fast access to standard health features, map control, and more.

Furthermore, in September 2021, Whoop raised USD 200 million in funding for athlete-focused fitness wearables. The Series F round brings Whoop’s total investment to nearly USD 405 million. Led by SoftBank’s Vision Fund 2, the round values Whoop at USD 3.6 billion. Other investors include IVP, Cavu Venture Partners, GP Bullhound, Accomplice, NextView Ventures, and Animal Capital. They join a long list of previous backers, including the National Football League Players Association, Jack Dorsey, and several professional athletes.

The Asia Pacific region held the largest market share of 37.78% in 2022, and it is expected to experience a compound annual growth rate (CAGR) of 13.99% over the forecast period. China, in particular, has been a significant player in the chip industry for many years and is now emerging as a leader in chip miniaturization. The development of advanced manufacturing techniques, such as nanotechnology, has played a crucial role in driving chip miniaturization in China. These techniques enable the production of smaller and more efficient chips, which are essential for the development of wearable sensors. The Chinese government has also launched various initiatives to promote digital healthcare and medical technologies, including wearable sensors.

Japan is expected to witness significant growth in the wearable sensors market due to increasing digitization efforts in recent years. Government initiatives aimed at promoting the adoption of digital technologies, a growing population of digital-native consumers, and the need to improve productivity and efficiency across industries have all contributed to this trend.

In India, the market for wearable sensors is rapidly expanding. Factors such as the increasing adoption of digital technologies, a growing focus on health and fitness, and rising awareness of the benefits of wearable devices have driven this growth.

The Rest of Asia-Pacific region has also experienced a steady increase in demand for wearable sensors. Factors contributing to this include a growing interest in fitness and wellness, a rising aging population, and advancements in technology and healthcare.

According to the ASEAN Post, the existing nursing homes are insufficient to meet the needs of the growing elderly population. Moreover, the services provided at these homes may be inadequate, impacting the quality of life and leading to isolation among residents. Property developers are recognizing the challenges posed by an aging society and considering them when creating housing for urban dwellers. This presents an untapped potential market for wearable sensors, as they can contribute to improving the well-being and safety of elderly individuals in these settings.

Competitive Landscape

The wearable sensors market is characterized by strong competition, featuring major players such as STMicroelectronics NV, Texas Instruments Incorporated, Infineon Technologies AG, Analog Devices Inc., and InvenSense Inc. (TDK Corporation). These key players in the market are actively implementing strategies such as partnerships, collaborations, innovations, and acquisitions to enhance their product offerings and establish sustainable competitive advantages.

In December 2022, Analog Devices Inc. announced a collaboration with Oregon Health & Science University (OHSU) to develop a smartwatch capable of detecting key mental health indicators. This collaboration aims to address the increasing mental health crisis among teenagers. Through this unique project, OHSU will leverage Analog Devices’ innovative technology and products to contribute to the preservation, improvement, and enrichment of human lives affected by this global mental health challenge.

Similarly, in December 2022, Panasonic Industries introduced a new addition to its renowned Grid-Eye sensor family. The latest member features a 90° lens, enabling a wider field of vision (FoV) and reducing the number of sensors required to cover a specific area. This advancement allows for improved tracking and counting applications, particularly in monitoring individuals’ movements. The Grid-Eye 90° sensor enhances systems designed for privacy-conscious applications, thanks to its high-resolution capabilities with 64 pixels.

Key companies profiled in this report include STMicroelectronics NV, Texas Instruments Incorporated, Infineon Technologies AG, Analog Devices Inc., InvenSense Inc. (TDK Corporation), AMS OSRAM AG, Panasonic Corporation, NXP Semiconductors NV, TE Connectivity Ltd, Bosch Sensortec GmbH (Robert Bosch GmbH).

Recent Industry Developments

In March 2023, 221e SRL and STMicroelectronics announced a collaboration aimed at integrating 221e’s sensing AI software with STMicroelectronics’ microcontrollers and intelligent sensors. This partnership seeks to enhance artificial intelligence solutions for wearable IoT devices and the automotive industry. By leveraging the capabilities of 221e’s sensing AI software and STMicroelectronics’ microcontrollers and intelligent sensors, advancements in AI technology can be achieved.

In September 2022, Analog Devices Inc. and BraveHeartWireless Inc. entered into a strategic agreement to collaborate on a comprehensive remote patient monitoring (RPM) system. The objective of this collaboration is to incorporate BraveHeart’s 510(k) cleared Bravo1 remote patient monitoring (RPM) platform as a component of Analog Devices’ vital sign monitoring infrastructure. This strategic partnership will provide healthcare partners with exceptional access to a suite of healthcare sensing technologies that are built upon a robust medical-grade RPM platform.

Key Questions Answered

How significant is the Wearable Sensors Market in terms of size?

The Wearable Sensors Market is expected to reach a size of USD 3,343 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 12.41% to reach USD 6,001 million by 2028.

What is the current size of the Wearable Sensors Market?

In 2023, the Wearable Sensors Market is expected to reach a size of USD 3,343 million.

Who are the key players in the Wearable Sensors Market?

STMicroelectronics N.V., Texas Instruments Incorporated, Infineon Technologies AG, Analog Devices Inc., and InvenSense Inc. (TDK Corporation) are among the major companies operating in the Wearable Sensors Market.

Which region demonstrates the fastest growth in the Wearable Sensors Market?

Asia Pacific is estimated to exhibit the highest compound annual growth rate (CAGR) over the forecast period (2023-2028) in the Wearable Sensors Market.

Which region holds the largest market share in the Wearable Sensors Market?

In 2023, Asia-Pacific accounts for the largest market share in the Wearable Sensors Market.

USD 2,850

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