Body Area Network Market Report: Trends, Forecast and Competitive Analysis to 2030

Body Area Network Trends and Forecast

The future of the global body area network market looks promising with opportunities in the display, application processor & memory module, and pulse generator, electromechanical, communication & interface component, power management unit, and sensor markets. The global body area network market is expected to reach an estimated $24.2 billion by 2030 with a CAGR of 11.0% from 2024 to 2030. The major drivers for this market are growing use of smart devices for tracking physical fitness and on-going advancements in medical devices and communication technologies.

A more than 150-page report is developed to help in your business decisions.

Body Area Network by Segment

The study includes a forecast for the global body area network by device type, component, application, and region.

Body Area Network Market by Device Type [Shipment Analysis by Value from 2018 to 2030]:

• Wearable Devices
• Implantable Devices

Body Area Network Market by Component [Shipment Analysis by Value from 2018 to 2030]:

• Displays
• Application Processors & Memory Modules, And Pulse Generators
• Electromechanicals
• Communication & Interface Components
• Power Management Units
• Sensors
• Others

Body Area Network Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Medical, Fitness, and Sports
• Military
• Security

Body Area Network Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Body Area Network Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies body area network companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the body area network companies profiled in this report include-

• Apple
• Fitbit
• Samsung
• Garmin
• Fossil

Body Area Network Market Insights

Lucintel forecasts that wearable device is expected to witness the higher growth over the forecast period due to rapid adoption and widespread acceptance of smartwatches.

Within this market, application processor and memory module will remain the largest segment due to proliferation of multimedia features in wearable devices is on the rise.

North America will remain the largest segment over the forecast period due to growing penetration of smart devices and rising government initiatives to promote digital health records in the region.

Features of the Global Body Area Network Market

Market Size Estimates: Body area network market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Body area network market size by device type, component, application, and region in terms of value ($B).

Regional Analysis: Body area network market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different device types, components, applications, and regions for the body area network market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the body area network market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the body area network market size?

Answer: The global body area network market is expected to reach an estimated $24.2 billion by 2030.

Q2. What is the growth forecast for body area network market?

Answer: The global body area network market is expected to grow with a CAGR of 11.0% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the body area network market?

Answer: The major drivers for this market are growing use of smart devices for tracking physical fitness and on-going advancements in medical devices and communication technologies.

Q4. What are the major segments for body area network market?

Answer: The future of the body area network market looks promising with opportunities in the display, application processor & memory module, and pulse generator, electromechanical, communication & interface component, power management unit, and sensor markets.

Q5. Who are the key body area network market companies?

Answer: Some of the key body area network companies are as follows.

• Apple
• Fitbit
• Samsung
• Garmin
• Fossil

Q6. Which body area network market segment will be the largest in future?

Answer: Lucintel forecasts that wearable device is expected to witness the higher growth over the forecast period due to rapid adoption and widespread acceptance of smartwatches.

Q7. In body area network market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest segment over the forecast period due to growing penetration of smart devices and rising government initiatives to promote digital health records in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the body area network market by device type (wearable devices and implantable devices), component (displays, application processors & memory modules, and pulse generators, electromechanicals, communication & interface components, power management units, sensors, and others), application (medical, fitness, and sports, military, and security), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?