Body Area Network Market Trends, Key Players and Forecast 2024 (1)

1
MarketsandMarkets Presents
The Body Area Network Market is projected to grow
from USD 9.1 billion in 2019 to USD 15.8 billion
by 2024 it is expected to record a compound
annual growth rate (CAGR) of 11.7. Increased use
of smart devices for tracking physical fitness
and its availability at low-cost are major
driving factors of the market. Utilization of
advanced technologies to reduce the growing
healthcare expenditure and adoption of IoT in
healthcare applications provide an opportunity
for the market.
2
MarketsandMarkets Presents
Wearable devices to hold a major share of the
Body Area Network Market during the forecast
period Wearable devices are expected to lead the
Body Area Network Market. This is mainly because
of rapid growth in adoption of smartwatches and
smart bands in sports and fitness applications
across various countries. These devices help
users to keep a tab on their activities such
steps and calculate the distance covered by
walking and running every day. Based on the
information gathered through sensors, these
fitness tracking devices can calculate and report
accurate data on calories that users have burned
on each day and also monitors sleep and heart
rate. Hence, increasing preference for wearable
devices for fitness application drives the growth
for Body Area Network Market.
3
MarketsandMarkets Presents
Medical, Fitness, Sports Application to grow at
the highest CAGR during the forecast period for
Body Area Network Market Increasing demand for
wearable as well as implantable devices in
medical applications such as remote health
monitoring, telemedicine, and assisted living,
while the popularity of wearable devices for
fitness, sports applications are some of the
major factors affecting the growth of the market.
Also, the availability of a wide range of these
wearable devices at an affordable cost supports
market growth. Download PDF Sample _at_
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4
MarketsandMarkets Presents
North America to exhibit the largest market share
for Body Area Network through the course of the
forecast period Factors such as increasing
penetration of smart devices such as
smartwatches, fitness trackers, implantable
devices rising prevalence of chronic diseases
and lifestyle-related disorders, growing
healthcare costs, and escalating demand for
better healthcare services drives the growth of
body area network market in North America. Apple,
Fitbit, Garmin, Fossil, and Medtronic are among
the major players of the Body Area Network Market
in North America.
5
MarketsandMarkets Presents
Key Players Apple Inc. (US), Fitbit (US),
Samsung Electronics Co., Ltd. (South Korea),
Garmin Ltd. (US), Fossil Group, Inc. (US), Xiaomi
Corporation (China), Huawei Technologies Co.,
Ltd. (China), Casio Computer Co., Ltd. (Japan),
LG Electronics Inc. (South Korea), Medtronic plc
(US), Bragi (Germany), Polar Electro Oy
(Finland), Mobvoi Information Technology Company
Limited (China), GOQii (US), Suunto Oy (Finland),
Withings (France), AsusTek Computer Inc.
(Taiwan), Abbott Laboratories (US), Huami
Corporation (China), and Matrix Industries (US)
are among a few major players in the Body Area
Network Market. For More Details -
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ody-area-network-market-120804837.html
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MarketsandMarkets Presents
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7
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