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Allied Market Research

Body Area Network Market By Device Type (Wearable, Implantable), Technology (Bluetooth, Wi-Fi, ZigBee and Others), Application (Fitness & Sports, Medical, Security, Military), Global Opportunity Analysis and Industry Forecast, 2021–2030

A12210
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Sep 2021 | 70 Views
   
Author(s) : Vijay Poola
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COVID-19

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Body Area Network Market Outlook- 2030

A body area network (BAN) is a wireless network of wearable computer devices, also known as a wireless body area network (WBAN), a body sensor network (BSN), or a medical body area network (MBAN). BAN devices can be implanted into the body, surface-mounted on the body in a fixed place, or accompanying gadgets that individuals can carry in multiple positions such as in the pockets, on the hands, or in different bags.

The use of wearable devices, such as smartwatches and smart glasses, is also propelling the growth of the body area network market. The development of body area networks is aided by the growing usage of wireless networks and the continual shrinking of electrical intrusive devices. All these factors are creating lucrative opportunities for the body area network market globally.

The global body area network market is segmented on the basis of device type, technology, application, and region. Based on device type, the market is divided into wearable, implantable. In terms of technology, the market is categorized into bluetooth, wi-fi, zigbee and others. On the basis of application, the market is divided into fitness & sports, medical, security, military. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global body area network industry include Casio Computer Co., Ltd., AsusTek Computer Inc., LG Electronics Inc., Medtronic plc, GOQii, Bragi, Mobvoi Information Technology Company Limited, Polar Electro Oy, Suunto Oy, Withings. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global body area network market.

Market Scope and Structure Analysis

Report Metric

Details

 Market Size Available for Years

  2020–2030

 Base Year Considered

  2020

  Forecast Period

  2021–2030

  Forecast Unit

  Value (USD)

  Segments Covered

  Device Type, Technology, Application, and Region

  Regions Covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa)

  Companies Covered

Casio Computer Co., Ltd., AsusTek Computer Inc., LG Electronics Inc., Medtronic plc, GOQii, Bragi, Mobvoi Information Technology Company Limited, Polar Electro Oy, Suunto Oy, Withings

 

COVID-19 Impact Analysis

The disease has spread to almost every country in the world since the COVID-19 viral outbreak in December 2019, prompting the World Health Organization to declare it a public health emergency. The global effects of the coronavirus (COVID-19) are already being felt.

Body area networks are being used to monitor patients and provide adequate medical care during the COVID-19 pandemic as they aid in assessing vital signs and detecting stress and panic. BANs also offer healthcare providers with real-time information about the patients' ailments. All these factors are creating lucrative body area network market share opportunity globally.

Top Impacting Factors

Several wearable gadgets, such as activity monitors, smartwatches, and smart wristbands, employ application processors. The use of an application processor, which is one of the components of body area network, to combine input from numerous sensors, whether internal or external, and to process the information before taking remedial action.

The need for extra internal capacity in wearable devices, such as smartwatches, is increasing as multimedia features in wearable devices, such as smartwatches, to become more prevalent. As a result of these characteristics, application processors and memory modules have a larger body area network market.

However, the expensive cost of fitness trackers, smartwatches and the risk of data theft through tampered connections are limiting the body area network market, which is a restraining factor for the body area network industry. On the other hand, the fitness tracker industry is expected to develop as the IoT (Internet of Things) ecosystem grows in popularity and consumers become more health concerned.

New product Launches to Flourish the Market

Garmin, an American multinational technology company launched its, all-new Forerunner line of watches, which includes the Forerunner 45, Forerunner 45S, Forerunner 245, Forerunner 245 Music, and Forerunner 945 in April 2019.

Fitbit Inc., an American consumer electronics and fitness company, introduced four new devices in March 2019: the Fitbit Versa Lite Edition, Fitbit Inspire HR, Fitbit Inspire, and Fitbit Ace 2. Samsung Electronics Co., a South Korean multinational electronics company, introduced three new products, Galaxy Watch Active, Galaxy Fit, and Galaxy Buds in February 2019.

Surge in Usage in Smartwatches and Smart Bands in Sports and Fitness Industry

Smart bands, smartwatches, and smart earbuds are the most common wearable devices for body area networks. The body area network market is being accelerated by the growing use of smartwatches and smart bands in sports and fitness applications across various nations.

Smartwatches and smart bands are available from Apple, Fitbit, Samsung, Fossil, Garmin, Huawei, and Xiaomi while smart earbuds are available from Bragi and GN Group. Furthermore, due to the rise in healthy retiring trend, the elderly population's preference for these gadgets has risen. These gadgets also include high-end activity monitoring tools and interactive operating systems, which increase their demand.

Key Segments Covered

Segment

Sub-Segment

  Device Type

  • Wearable
  • Implantable

  Technology

  • Bluetooth
  • Wi-Fi
  • ZigBee
  • Others

  Application

  • Fitness & Sports
  • Medical
  • Security
  • Military


Key Benefits of the Report

  • This study presents the analytical depiction of the body area network market forecast along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the body area network market trends.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the body area network market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed body area network market analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions Answered in Body Area Network Market Report

  • Which are the leading players active in the body area network market size?
  • What are the detailed impacts of COVID-19 on the market?
  • What current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
 
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