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Technavio Expects the Global Motion Sensor Market for Wearables to Reach 279 Million Units by 2020According 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. Request sample report: http://goo.gl/knBOCm The report segments the global motion sensor market for wearables by application and can be divided into four broad categories:
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 suh as Fitbit, Xiaomi, Garmin (News - Alert), 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 (News - Alert) 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 (News - Alert) 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 (News - Alert), 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:
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