Global Body Area Network Market: Snapshot
The global market for body area network is primed for dramatic growth in the next couple of years on the back of their rising applications in various fields. Currently, they are seeing swift uptake in the domain of healthcare where the real time data on patients they churn out provide useful tools for doctors to accurately diagnose patients. Sports and military are other domains where they are finding new breakthrough uses for monitoring the performance of sportspersons or tracking the position and physical condition of military personnel.
According to market research firm Transparency Market Research, the global market for body area network will likely clock a robust CAGR of 24.7% from 2017 to 2025. Expanding at this pace, the market is expected to become worth US$62,120.9 mn by 2025.
Wearable Body Area Network Account for Maximum Share Due to Swift Sales of Smart Watches
Some of the key technologies leveraged in body area network are Bluetooth, ZigBee, Wi-Fi, and other communication technologies such as IEEE 802.15.6, mobile networks, Ultra Wideband (UWB), Zarlink technology, ANT protocol, Rubee active wireless protocol, Bluetooth Low Energy, etc. Of them, the technology of ZigBee is expected to see maximum uptake, particularly in North America and Europe.
There are two types of devices in the global body area network market – wearable devices and implant devices. Of the two, the segment of wearable devices accounts for a greater share in the market. Over the course of the forecast period, the segment is expected register a double digit CAGR. This is because of the soaring popularity and subsequent sales of smart watches and wrist watches, which are wearable devices used in body area networks. This, is turn, is because of the increasing disposable incomes of people. Main components of wearable devices used in body area network are sensors and microcontrollers. The sensors gauge the different parameters of the functioning of the human body such as heart beats, temperature, etc.
Crowd-funding for Product Development Majorly Promotes North America Market
Geographically, the prominent segments of the global market for body area network are South America, North America, Europe, Asia Pacific, and the Middle East and Africa. Of them, North America is a dominant market which currently accounts for maximum wearable body area network devices in the entire world. Canada is at the forefront of driving the North America market. The market in the region has been primarily bolstered by crowd-funding channeled into development of such cutting-edge devices. Some of the notable platforms for crowd-funding in the region are Kickstarter, Indiegogo, etc. The market in North America is expected to become worth US$25.39 bn by 2025.
Asia Pacific is another key market for body area network powered primarily by China. South Korea, Japan, and India are other countries that play a pivotal role in driving the growth in the region. The large population of millennial in rapidly developing economies of Asia Pacific are primarily serving to boost demand. Japan, with a massive elderly population, is also generating demand for body area network on account of their use in remote patient monitoring and self-monitoring. The overall Asia Pacific market is expected to surpass all other regions in terms of growth rate by registering a CAGR of 26.2%.
Some of the prominent participants in the global market for body area network are Fujitsu Limited, Intel Corporation, Renesas Electronics Corporation, Abbott Laboratories, Ericsson Ab, Telefonica SA, IBM Corporation, Jawbone Inc, Bluetooth SIG, General Electric Company (GE), and ST Microelectronics.
Global Body Area Network Market: Overview
Body area network market report provide analysis for the period of 2015 – 2025, where in 2016 represents base year and the period from 2017 to 2025 is the forecasted period. Data for 2015 have been included as historical information. The report covers the global body area network market including growth drivers, market restraints and major market opportunities which are anticipated to influence in the market during the said period. Global and regional factors and trends playing a significant role in the global body area network market has also been covered in the study. The study provides a comprehensive and exhaustive analysis of the market growth throughout the forecasted period in terms of revenue estimates (in US$ Mn), across various geographies.
The report also covers the global body area network market attractiveness analysis by technology, by devices, by end use industry and by region. Additionally market attractiveness of each of the regions: North America, Europe, Asia-Pacific, MEA and South America are also covered by technology, by devices, by end use industry and by country. Market attractiveness compare a segment’s attractiveness in the market on the basis of CAGR (Compounded Annual Growth Rate) and market share index.
Global Body Area Network Market: Trends
Due to continuous improvement in healthcare services across the world, life expectancy of people have increased. This is leading to rise in elderly population across the globe. Providing healthcare service to citizens is leading to huge government outlay. Body area network devices and systems helps in continuous monitoring of individuals outside home, hospital, care homes, ambulances, etc. They help in monitoring pulse rate, blood oxygen level, blood pressure level, glucose level, prevention of blockage in arteries which supply oxygen to heart, long lasting diseases such as asthma, diabetes and many other healthcare needs. As a whole body area network devices helps in remote monitoring of patients which reduces work pressure on hospitals and nursing homes reducing healthcare cost. Thus body area network adoption is gaining popularity in healthcare sector.
Global Body Area Network Market: Segmentation
Body area network market is segmented based on the technology adoption, devices used, end-use industry and geography. On the basis of communication technologies adopted, the body area network is classified into Bluetooth, Wi-Fi, ZigBee and other communication technologies. Other communication technologies includes mobile networks, IEEE 802.15.6, Ultra Wideband (UWB), ANT protocol, Zarlink technology, Rubee active wireless protocol and Bluetooth Low Energy among others. On the basis of type, the global market is segmented into wearable devices and implant devices.
On the basis of end-use industry where body area network is mostly used the market is segmented into healthcare industry, sports industry and others. Other end-use industries includes military, automotive, electronic bill payment, user authentication among others. As body area network technology is still in the process of maturity its full range of applications are yet to be invented.
Geographically the report classifies the global body area network market into North America, Europe, Asia-Pacific, Middle East and Africa (MEA) and South America. We haveanalysed the regions in terms of revenue. Region wise prominent countries covered in the report include the following – the U.S., Canada, Mexico, Germany, the U.K., France, Italy, Spain, China, Japan, South Korea, India, GCC (six middle east countries: Saudi Arabia, Kuwait, UAE, Qatar, Bahrain and Oman), South Africa, Brazil and Argentina.
Global Body Area Network Market: Competitive Landscape
The report also includes competition landscape which includes market share analysis of major players in the global body area network market based on their 2016 revenues and profile of major players. Company profiles include company overview, significant strategies adopted, SWOT analysis and market revenue from 2014 till 2016/ 2017 (public companies). The major players profiled in the global body area network market includes Fujitsu Limited, Intel Corporation, Abbott Laboratories, Renesas Electronics Corporation, Ericsson Ab, IBM Corporation, Telefonica SA, Jawbone Inc, Bluetooth SIG, General Electric Company (GE) and ST Microelectronics among others.
The global body area network market is segmented as below:
Global Body Area Network Market, By Technology
Global Body Area Network Market, By Devices
- Wearable Devices
- Implant Devices
Global Body Area Network Market, By End-use Industry
Global Body Area Network Market, By Geography
- North America
- The U.S.
- The U.K.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa (MEA)
- South Africa
- Rest of MEA
- South America
- Rest of South America