Body Area Network Market

The global body area network market size was valued at $10.29 billion in 2020, and is projected to reach $30.24 billion by 2030, registering a CAGR of 11.6% from 2021 to 2030.

The healthcare segment impacted positively due to COVID-19 outbreak.

Body area network is a network that deals with monitoring and detecting the complete system of the human body. It uses a low power wireless device that can be implanted inside or carried on the body. It is widely used for sports training, health & wellness monitoring, personal safety, and personalized medicine.  

The growth of the global body area network market share is anticipated to be driven by factors such as increased use of smart devices for tracking physical fitness, rapid developments in medical devices & communication technologies, surge in government support, and rise in sales of smartwatches and smart bands. However, concerns in regards to security and privacy restraint the growth of the global body area network industry. On the contrary, high demand from Asia-Pacific, is expected to create lucrative opportunities for the body area network market.

The body area network market share is segmented into device type, component, connectivity, end user, and region. By device type, the market is bifurcated into implantable devices and wearable devices. By component, it is categorized into processors, memory modules, displays, sensors, electromechanicals, communication & interface components, and others. The connectivity covered in the study includes Bluetooth, Wi-Fi, ZigBee, and others. On the basis of end user, the market is fragmented into healthcare, sports, fitness, and others. Region-wise, the body area network market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and the rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). North America dominated the body area network market in 2020, and is projected to register significant growth rate during the forecast period, owing to growth of the healthcare sector. However, Asia-Pacific is expected to witness significant growth rate by the end of the forecast period, followed by Europe.

Leading body area network market manufacturers, such as Apple Inc., Fossil Group, Inc., and Samsung Electronics Co., Ltd., are focusing on their investment on technologically advanced, cost-effective, and more secure products & solutions for various applications.  

Top Impacting Factors

The prominent factors that impact the body area network market growth include surge in health awareness among the consumers, and increase in penetration of AI in healthcare industry. In addition, advancement of IoT and integration of wireless technology drive the body area network market growth. However, high initial cost of wearable fitness devices restricts the market growth. On the contrary, rise in investment on building connected ecosystem are expected to create lucrative opportunities for the market.     

Competition Analysis

Competitive analysis and profiles of the major body area network market players, such as Apple Inc., Fitbit, Inc., Fossil Group, Inc., Garmin Ltd., Google LLC (Alphabet Inc.), Huawei Technologies Co., Ltd., Samsung Electronics Co., Ltd., Sensoria Inc., TomTom International B.V., and Xiaomi Corporation, have been covered in the report.

Covid-19 Impact Analysis

The outbreak of COVID-19 has significantly affected the electronics and semiconductor sector. Business and manufacturing units across various countries were closed, owing to increase in number of COVID-19 cases, and are expected to remain closed in 2021. Furthermore, partial or complete lockdown has disrupted the global supply chain posing challenges for manufacturers to reach customers.

The COVID-19 pandemic is impacting the society and overall economy across the globe. The impact of this outbreak is growing day-by-day as well as affecting the overall business globally. The crisis is creating uncertainty in the stock market and is resulting in decrease of business confidence, decline of supply chain, and increase in panic among the customer segments.

Asian and European countries under lockdowns have suffered major loss of business and revenue due to shutdown of manufacturing units. The operations of the production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease, which further impacted the growth of the body area network market revenue.

In addition, the COVID-19 pandemic has impacted the electronics sector, as production facilities have stalled, which, in turn, boosts the demand for electronics and semiconductor products in the industries. Its major impact includes large manufacturing interruption across Europe and interruption in Chinese parts exports, which is projected to hinder the growth of the body area network market.

Key Benefits For Stakeholders

• This study comprises analytical depiction of the global body area network market along with the current trends and future estimations to depict the imminent investment pockets.
• The overall body area network market analysis is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The current body area network market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
• Porter’s five forces analysis illustrates the potency of the buyers and the body area network market share of key vendors.
• The report includes the market trends and the market share of key vendors.

Key Market Segments

By Device Type

• Implantable Devices
• Wearable Devices
• Smartwatches
• Fitness Bands
• Others

By Components

• Processors
• Memory Modules
• Displays
• Sensors
• Electromechanicals
• Communication & Interface Components
• Others

By Connectivity

• Bluetooth
• Wi-Fi
• ZigBee
• Others

By End User

• Healthcare
• Sports
• Fitness
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• LAMEA
  • Latin America
  • Middle East
  • Africa

Key Players

• Apple Inc.
• Fitbit, Inc.
• Fossil Group, Inc.
• Garmin Ltd.
• Google LLC (Alphabet Inc.)
• Huawei Technologies Co., Ltd.
• Samsung Electronics Co., Ltd.
• Sensoria Inc.
• TomTom International B.V.
• Xiaomi Corporation

 Body Area Network Market Report Highlights