Global Smart Bands Body Area Network Market – Industry Trends and Forecast to 2029

Smart Bands Body Area Network Market Analysis and Size

As the number of smartphone users has grown significantly over the last two decades, it is expected that awareness of body area network technology will grow and its market will expand in the coming decades. The upward trend in global chronic disease cases is expected to be the primary reason for the body area network market's impressive growth over the forecast years.

Data Bridge Market Research analyses that the smart bands body area network market which was growing at a value of 11.76 billion in 2021 and is expected to reach the value of USD 32.85 billion by 2029, at a CAGR of 13.70% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Smart Bands Body Area Network Market Scope and Segmentation

Market Definition

A body area network (BAN) is a network that monitors and detects all aspects of the human body. It employs a low-power wireless device that can be implanted or worn on the body. A smart band body area network (BAN) It is widely used in sports training, health and wellness monitoring, personal safety, and personalised treatment.

Global Smart Bands Body Area Network Market Dynamics

Drivers

• High prevalence of big data and deep learning technologies

Medical Big Data, along with other technologies like IoT and machine learning, is quickly becoming an essential component of the medical technology industry. The smart bands body area network market has emerged as an important component of various prediction systems used in medical applications, and the healthcare industry is gaining momentum. The integration of big data and deep learning in body area network applications is not only paving the way in the healthcare sector, but also in other industries such as sports, fitness, and wearables.

• Growing awareness about advanced electronic devices

Body area network providers are riding the health and fitness wave, raising consumer awareness about the availability of technologically advanced healthcare electronic devices. Furthermore, consumers' increasing reliance on health and fitness is creating enormous opportunity for next-generation MedTech applications such as body area networks. New companies are implementing cutting-edge deep learning and medical big data technologies in potential real-world applications of body area networks and biomedical sensor devices used to monitor patients' vital signs.

Opportunities

• Device miniaturization and wireless networks

The growing use of wireless networks and the ongoing miniaturisation of electrically intrusive devices are driving the body area network market demand. The rapid adoption of smartwatches and smart bands in sports and fitness applications across various regions is accelerating the growth of the wearable device market.

Restraints

• Privacy concerns

In the forecasted period, increasing privacy concerns, as well as the need to secure a large volume of sensitive data, will act as market restraints for smart bands body area networks.

This smart bands body area network market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the smart bands body area network market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on the Global Smart Bands Body Area Network Market

The global public health emergency, which began with the outbreak in the first quarter of 2020, had an uneven impact on the market. Initially, all major economic and healthcare resources were diverted toward pandemic mitigation, halting progress in the field of body area sensor networks technology. The production of body area network devices was reduced due to a lack of raw materials for electronic devices, and sales were also reduced due to a lack of adequate logistics facilities. However, with the realisation of the benefits of body area networks, some significant developments in the wider adoption of such devices were observed later in the period. This trend of using wearable electronics devices for better patient management by the healthcare sector is expected to continue in the post-pandemic period.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures

Recent Developments

• In February 2019 Telefonaktiebolaget LM Ericsson, a leading networking and telecommunications company, partnered with Telstra, Australia's largest telecom provider, to integrate its connectivity management services with Telstra's IoT solutions.
• in January 2019 Abbott Laboratories, a leading manufacturer and seller of healthcare products, announced that it would acquire Cephea Valve Technologies, Inc., a privately held medical device company with expertise in less-invasive heart valve replacement technology used to treat mitral valve disease.
• In April 2019, Fujitsu Limited, a leading IT component and service provider, announced that it had developed a technology to improve the speed of deep-learning software, resulting in a larger and more diverse customer base, allowing it to enter emerging markets for body area networks.

Global Smart Bands Body Area Network Market Scope

The smart bands body area network market is segmented on the basis of component, technology, and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Components

• Displays
• Application Processors and Memory Modules, and Pulse Generators
• Electro mechanicals
• Communication and Interface Components
• Power Management Units
• Sensors
• Others

Applications

• Medical
• Fitness and Sports Application
• Security
• Military

Technology

• Bluetooth Low Energy
• Zigbee
• Wi-Fi
• Others

Smart Bands Body Area Network Market Regional Analysis/Insights

The smart bands body area network market is analysed and market size insights and trends are provided by country, component, technology, and application as referenced above.

The countries covered in the smart bands body area network market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America is expected to hold a significant market share in the global market because of the early adoption of body area networks in this region, during the forecast period.

Asia-Pacific is set to grow at the highest rate due to the developing Asia Pacific countries that are modernising and adopting new technology-advanced medical devices are seeing an increase in demand for body area networks.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Smart Bands Body Area Network Market Share Analysis

The smart bands body area network market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to smart bands body area network market.

Some of the major players operating in the smart bands body area network market are:

• Honeywell International Inc. (U.S.)
• Siemens (Germany)
• Johnson Controls (Ireland)
• Axis Communications AB (Sweden)
• Schneider Electric (France)
• ASSA ABLOY (Sweden)
• Apple Inc., (U.S.)
• ADT (US)
• ABB (Switzerland)
• Robert Bosch GmbH (Germany)
• Sony Corporation (Japan)
• Samsung (South Korea)
• Ooma Inc., (U.S.)
• Delta Controls (Canada)
• Comcast (U.S.)
• Crestron Electronics Inc., (U.S.)
• SimpliSafe Inc., (U.S.)
• Armorax (U.S.)
• LG Electronics (South Korea)
• Lutron Electronics Co., Inc. (U.S.)
• Legrand (France)

SKU-56101