Global Body Area Network Market By Component (Displays, Application Processors and Memory Modules and Pulse Generators, Electromechanicals, Communication and Interface Components, Power Management Units, Sensors, Others), Technology (Bluetooth, Wi-Fi, ZigBee, Others), Device Type (Wearable Devices, Implantable Devices), End-Use (Healthcare, Sports, Security, Military, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Body Area Network Market
Global body area network market is expected to register a healthy CAGR of 12.2% during the forecast period of 2019-2026. The report contains data for historic year 2017 and the base year of calculation is 2018. This rise in market value can be attributed to the rapid technological developments in the communication and medical devices technologies.
Market Definition: Global Body Area Network Market
A body area network is a device placed in the body or surface which is mounted on human body in a specific position. The term body area networks refer to the wireless network technologies which are used in combination with the wearables. The main aim of these networks is of transmitting data that are produced by the wearable devices outside a WLAN or Internet. In certain cases, the wearables can exchange the data with each other directly. The body area network is used in several applications owing to its reliability and properties.
- Growing usage of the smart devices in tracking physical fitness is driving the market growth
- Supportive hospital and government initiatives for promoting digital healthcare is also expected to boost the growth of this market
- Easy availability of the lower cost fitness tracking gadgets will fuel the market in the forecast period
- Rising inclination towards the usage of e-health and wearables solutions is escalating the market growth
- Social refrain owing to the threat of the invasion of privacy is expected to restrain the market growth
- Increasing energy and security conservation problems in the wireless BAN will hinder the growth of the market
- Rising problems of safety and transmission overhead can restrain the market demand in the forecast period
Segmentation: Global Body Area Network Market
- Application Processors and Memory Modules and Pulse Generators
- Communication and Interface Components
- Power Management Units
By Device Type
- Wearable Devices
- Smart Bands
- Smart Earphones
- Implantable Devices
- North America
- South America
- Rest of South America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In March 2019, Fitbit Inc, launched four new products such as Fitbit Versa Lite Edition, Fitbit Inspire, Fitbit Inspire HR and Fitbit Ace 2. These products are designed for making fitness and health accessible to huge customers across the globe. This would help the company to enhance their product portfolio in the market
- In October 2018, CITIZEN Watch Co, Ltd. and Fossil Group announced a strategic technology licensing partnership for launching a line of the hybrid smartwatches. This partnership would help the company to accelerate and broaden the adoption and awareness of the hybrid smartwatches. This strategy would also help the company to offer a wide product portfolio to their customers
Global body area network market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of body area network market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in global body area network market are Abbott, Bluetooth SIG, Inc., Telefonaktiebolaget LM Ericsson, FUJITSU, GENERAL ELECTRIC, IBM Corporation, Intel Corporation, Time Inc., Renesas Electronics Corporation, STMicroelectronics, Apple Inc., Fitbit, Inc., SAMSUNG, Garmin Ltd., Huami Corporation, ASUSTeK Computer Inc., Withings, SUUNTO, HK SMARTMV LIMITED, Medtronic among others.
Research Methodology: Global Body Area Network Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Competitive analysis of key competitors involved in the market
- Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
- Market drivers and restraints analysis along with the analysis of the market structure