Sports, Fitness, Healthcare, and Clothing are emerging as key industries for the early market success of wearable technology. Mind Commerce sees wearables in Sports and Fitness alone reaching $9.4 billion globally by 2020 with a CAGR of 103%. Wearable devices within these market segments typically represent an accessory that provides the user with information in support of various applications and/or personal services. For example, some wearables in healthcare help in monitoring blood pressure levels, heartbeat, body temperature and similar other evolving features. Wearables within these industries are also a key part of the Personal Internet of Things (PIoT) as they gather important data about personal habits, lifestyle, and physical attributes.
For a while now, the semiconductor market has benefitted from the growing medical electronics industry which has been one of the few steady markets long term in the economy. Aging populations, rising incomes in emerging markets, and the unfortunate rise in “lifestyle” diseases are some of the macro-factors driving revenue in medical technology markets. Near term growth is attributable to growing trends in health and wellness management with new applications hitting the market and gaining momentum, including wearables. This study provides forecasts for semiconductors by product family for the medical application market. Forecasts are provided by region, application, and product type. Market share is also provided for semiconductor suppliers and medical equipment manufacturers. Semiconductor spending is also estimated for those manufacturers.
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