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.
Wide-ranging market information of the body area network report will surely grow business and improve return on investment (ROI). The body area network report has been prepared by taking into account several aspects of marketing research and analysis which includes market size estimations, market dynamics, company & market best practices, entry level marketing strategies, positioning and segmentations, competitive landscaping, opportunity analysis, economic forecasting, industry-specific technology solutions, roadmap analysis, targeting key buying criteria, and in-depth benchmarking of vendor offerings. The body area network report gives CAGR values along with its fluctuations for the specific forecast period.
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.
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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.
- 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
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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
- Middle East & Africa
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