Body Area Network Market Size, Huge Revenue Growth by Key Players, Size, Scope, High Revenue Growth, Business Opportunities and Forecast to 2030
Body Area Network Market Synopsis
As per the reports by Market Research Future Reports (MRFR), the Global Body Area Network Market is estimated to expand from USD 9.09 Billion in 2018 to USD 21 Billion by 2025, at an expanding CAGR of 21% during the review period from 2019 to 2025. The unique selling point of the global body area network market is the development of wireless communication. An increase in the usage of smart devices for identifying physical fitness and its availability at a cheaper price, robust developments in medical equipment and communicative technology, supportive hospital and governments initiatives to educate people about digital healthcare are some of the most crucial factors affecting the global body area network market 2020.
Body area network is a short-range wireless network that consists of equipment stationed in, on, and around the body that can be communicated and connected. It is a kind of personal network that utilizes implanted and wearable electronic circuits. It deploys extremely useful functions and capabilities inconvenient and inconspicuous configurations that operate at very low power and deliver superior security. Body area network applications are in several fields like in the military where it is utilized to regulate the physical locations of field personnel. The important signs of solider’s can be traced similar to healthcare patients as part of regulating their physical well-being.
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Body Area Network Market Segmentation
The global body area network market can be segregated on the basis of application, device, and region.
On the basis of the device, the global body area network market has been divided into implantable and wearable devices. The wearable devices sector is further sub-divided into smartwatches, smart bands, and smart earphones.
On the basis of technology, the market has been segregated into Zigbee, Bluetooth low energy (BLE), Wi-Fi, and others.
On the basis of application, the market has been segregated into sports, medical and fitness, military, security, and others.
On the basis of region, the global body area network market has been divided into Europe, North America, Asia-Pacific, Central and South America, and the Middle East & Africa.
Body Area Network Market Regional Segmentation
The global body area network market is estimated to expand at a considerable rate during the review tenure from 2019 to 2025. The regional analysis of the global body area network market is performed for Europe, North America, Asia-Pacific, Central and South America, and the Middle East & Africa.
North America is leading the market due to an increase in the adoption of several smart equipment which includes smartwatches, fitness trackers, implantable equipment among others. Moreover, the rate of chronic ailments and increasing healthcare expenses are propelling the expansion of the body area network market in the North American region.
The Asia-Pacific region is estimated to be the fastest-expanding region during the review period due to expanding steps taken by the government to advocate cure in the form of digital health records. Moreover, the demand for efficient health-associated services is estimated to further propel the expansion of the market in the forthcoming period. The Middle East and African market are estimated to display considerable expansion during the review period.
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body area network market Key Players
The major competitors in the global Body Area Network Market are Fitbit (US), Apple Inc.(US), Samsung Electronics Co., Ltd (South Korea), Fossil Group, Inc. (the US), Garmin Ltd. (US), Xiaomi Corporation (China), Casio Computer Co., Ltd. (Japan), Huawei Technologies Co., Ltd. (China), LG Electronics Inc. (South Korea), Bragi (Germany), Medtronic plc (US), Polar Electro Oy (Finland), GOQii (US), Mobvoi Information Technology Company Limited (China), Suunto Oy (Finland), AsusTek Computer Inc. (Taiwan), Withings (France), Abbott Laboratories (US), Matrix Industries (US), Huami Corporation (China), and Sony Corporation (Japan).
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