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Body Area Network Market

Body Area Network Market

Body Area Network Market Analysis By Technology (Bluetooth, Wi-Fi & Zigbee) By Devices (Wearable Devices & Implant Devices) By End use Industry and Region, Forecast 2022-2032.

Body Area Network Market
FACT7208MR
  • Apr-2022
  • List of Tables : 34
  • List of Figures : 80
  • 170 Pages
  • Technology

Global Body Area Network Market Outlook

The global body area network market is predicted to grow at a robust CAGR of 22.3%. It is estimated to be valued at about US$ 229.8 Bn by 2032, going up from US$ 24.6 Bn in 2021.

Attributes

Details

Body Area Network Market Size (2021)

US$ 24.6 Bn

Body Area Network Market Value (2022)

US$ 30.8 Bn

Body Area Network Market Value (2032)

US$ 229.8 Bn

Body Area Network Market Growth Rate (2022-2032)

22.3%

Market Share of Top 5 Countries

68.6%

Key Players

  • Fujitsu Linited
  • Intel Corporation
  • Abbott Laboratories
  • Renesas Electronics Corporation
  • Ericsson AB
  • IBM Corporation
  • Telefonica SA
  • Jawbone Inc.
  • Bluetooth SIG
  • General Electric Company (GE)
  • ST Microelectronics

“As the count of smartphone users has increased significantly in the past two decades, it is expected to raise the awareness about body area network technology and boost its market in coming decades.”

With the advancement in different types of physiological sensors and wireless communication technologies, a new generation of wireless body sensors has come into the market that can be attached to our bodies.

These devices help in continuous monitoring of the vital parameters of patients, particularly those several suffering from asthma, diabetes or even heart attacks. Such important applicability has created an impressive market of body area network devices in the healthcare domain.

The upward trajectory observed in the worldwide chronic disease cases is anticipated to be the foremost reason for the impressive growth of the body area network market during the forecast years.

Impact of COVID-19 on Body Area Network Market

The global public health emergency that started with the outbreak in the first quarter of the year 2020 had some mixed effects on the global body area network market.

In the initial days, all the major areas of economy and healthcare resources got diverted towards the mitigation of the pandemic halting the advancement in the field of body area sensor networks technology.

The production of body area network devices got reduced due to the unavailability of raw materials for electronic devices, and the sales also dipped down due to restrictions on sufficient logistics facilities.

However, in the later period, with the realization of body area network advantages, some major developments in the wider adoption of such devices were observed. This trend of using wearable electronics devices is anticipated to carry forward in the post-pandemic period for better management of patients by the healthcare sector.

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Sales Analysis of Body Area Network System from 2017 to 2021 Vs Market Outlook for 2022 to 2032

“Promotion of digital healthcare facilities at various public and private healthcare institutions is anticipated to boost the digital body area network market to a global scale.”

Rising awareness about the use of body area network devices for tracking physical fitness accurately has increased its adaptation promoting the global market. Acceptance of data from wireless body area network products by the healthcare sector as first-hand information has also increased the sale of such WBAN sensors in the recent past.

Initiatives are undertaken by private hospitals and government organizations to digitize the health care sector, bringing in huge opportunities for the expansion of medical body area network devices market players. Integration of modern data transfer technologies has also rendered several body area network applications a powerful tool for monitoring the health parameters of the patients present at any location.

Decreasing cost of the overall price of semiconductor gadgets has increased the sales of body area network devices in all categories. And the introduction of 5G and higher network spectrums that have increased the speed and reliability of online services is also expected to be a prominent factor in the growing global body area network market.

What are the Major Challenges faced by the Body Area Network Market Players?

“Improvement in telecom facilities to limit market growth.”

Availability of network coverage is a major hurdle for the wireless body sensor networks that can limit the growth potential of the global body area network market for some more years.

However, the rapid expansion of telecommunication facilities even in third world countries is expected to create a suitable environment for body area network devices manufacturers to penetrate the market very soon.

Data privacy issues in some countries have also emerged as a major reason for not accepting the WBAN sensors completely and reliably. It has had some negative impacts on the growth of the body area network market in higher potential areas of Europe and North America.

Other social restraints for wearing any electronic gadgets can also hamper the adoption of body area network devices in some parts of the world.

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Comparative View of Adjacent Body Area Network Market

Attributes

Body Area Network Market

Body Control Module Market

Wireless Connectivity Market

CAGR

(2022-2032)

22.3%

3%

15%

Market Value

(2027)

US$ 84.27 Bn

US$ 37.46 Bn

US$ 169.3 Bn

Growth Factor

Increase in awareness for physical fitness and record of body parameters.

High-end body control modules have increased in volume generating higher revenues.

R&D activities undertaken by the private players has increased the popularity of the services across the globe.

Opportunity

Decrease in prices of wearable electronic and communicable devices.

There are some major developments going on in the controller area network (CAN) bus segment.

Development of Bluetooth smart ready has boosted the market with some new products.

Key Trends

Growth of old age population in North America and adjacent areas has increased the demand.

The demand for body control modules in Asia Pacific is growing exponentially.

Low-power wide area network is the fastest growing segment.

The development of new software applications in the field of smart fitness data tracking, management and dissemination areas is anticipated to create a huge market for body area network architecture and other infrastructures.

Also, the growing space of hardware manufacturing companies, particularly in South-East Asian countries that have flooded the market with wireless body network products at affordable prices, is expected to further boost its global market in other segments as well.

Providing proper information about all the body area network advantages and disadvantages by the service providers and public organizations can play a crucial role in the development of its market. In lower-income countries, government support during the early phase of adopting wireless body area network technology can boost the popularity of the market in the long run.

During the forecast years, the global body area network market is projected to increase exponentially owing to the rise in the geriatric population in North America and Europe geographical region as this category of the population suffers from a higher rate of health degradation requiring constant monitoring so the wireless body sensors can serve as a suitable alternative against a regular visit to healthcare institutions or hospitals.

What is the Growth Outlook for the Body Area Network Market According to Different Segments?

“The growing trend among citizens for upgrading the lifestyle by adopting smart devices and digital technologies has created a huge market for every type of wireless body area network for health monitoring devices.”

Integration of different types of smart technologies with wearable WBAN sensors has made it a more efficient devices for achieving the end result of monitoring healthcare or other parameters.

Bluetooth is the highly preferred Technology in wearable smart devices, which makes it the highest-grossing segment in the global market. The Bluetooth segment is expected to record a CAGR of 24.3% during the forecast years.

Some of the other technologies that are also integrated with such devices are Wi-Fi and Zigbee, which have resulted in their own body area network advantages and disadvantages influencing the market growth.

What are the Different Types of Devices provided by the Body Area Network Market?

The growing use of smart bands, smartwatches and smart earphones as a fashion statement in urban areas has positioned wearable devices as the most attractive segment for the wireless body area network market player. This segment of wireless body area network for health monitoring is estimated to grow at a CAGR of 22.4% during the forecast years 2022 to 2032.

In the recent past, some major developments have been observed in the implants segment of the body area network devices category. However, the safety and privacy concerns over the use of such devices will remain the major challenge for this segment for its actual market growth.

Which are the Prominent End-Use Industries for the Global Body Area Network Market?

The surge in disease burden across the world has rendered the use of body area sensor networks a suitable option for its proper management. The healthcare sector is rapidly adopting the body area network architecture and has become the highest growing segment for the global market.

The sports sector is also an attractive segment for the global body area network market that is likely to emerge as a major revenue-generating segment in the coming years.

What is the Performance of Body Area Network Market in Different Geographical Regions?

Region

CAGR (2022 to 2032)

United States (US)

23.3%

United Kingdom (UK)

20.8%

China

24.7%

Japan

22.3%

South Korea

23.3%

The use of every type of smart product is highest in North America, which makes it the leading market for wireless body area network technologies. Due to higher living standards and general consciousness for physical health, it has remained the major attractive region for manufacturers producing body area network devices.

The USA, in particular, is the most lucrative region for the sale of wireless network devices, which is estimated to turn into the US$ 88 Bn market by the end of this forecast period.

Degrading Lifestyle and a higher proportion of the population coming under the old age category are anticipated to escalate the demand for WBAN accessories in this region in coming years.

The Asia Pacific is an impressively growing market owing to the highest population count and presence of a large network of electronics manufacturing companies.

As per the market analysis report, China is expected to witness the highest growth rate in medical body area network devices at nearly 24.7% during the forecast timeframe. Japan and South Korea are also the other two prominent regions that are likely to experience significant growth in the body are network devices market.

How Strong is the Competitive Landscape for the Body Area Network Market?

The global body area network market is getting highly competitive by the entrance of all major hardware manufacturing companies into this field. Some of the giant service based companies have also entered the market with more smart wireless body network devices that has further escalated the competitive landscape for the market players.

Investment in R&D by private players for integrating new end technologies such as artificial intelligence (AI) and more body parameter recognizing features is the major strategy adopted by key players to remain competitive in the market. This scenario will lead to development of some more powerful wireless body sensors that is expected to further increase the global market volume.

What are the Recent Developments in the Field of Body Area Network Market?

  • Samsung Electronics Corporation of South Korea launched Galaxy Watch Active, Galaxy Fit and Galaxy Buds in February 2019. These 3 new products are anticipated to expand the market reach of the company in body area network technology devices and devices.
  • Likewise, Fitbit launched 4 new products in its body area network devices domain in March 2019. These products namely – Fitbit Versa Lite Edition, Fitbit Inspire, and Fitbit Ace 2 will be added to the company profile making it more popular among the masses.
  • The Garmin Co. added 4 new watches in its Forerunner series in April 2019. It includes the models 45, 45S, 245, 245 Music and 945.

Key Segments

  • By Technology :

    • Bluetooth
    • Wi-Fi
    • Zigbee
    • Others
  • By Devices :

    • Wearable Devices
    • Implant Devices
  • By End Use Industry :

    • Healthcare
    • Sports
    • Others
  • By Region :

    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East and Africa (MEA)

- FAQs -

The global body area network market is estimated to record a CAGR of 22.3% during the forecast period.
The global body area network market is predicted to be valued at US$ 229.8 Bn by 2032.
The global body area network market was valued at US$ 24.6 Bn in 2021.
North America accounts for the largest revenue share in the body area network market with US dominating the global market.
Asia Pacific region is predicted to witness the highest CAGR in the body area network market.

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