Some of the key players operating in the global body area network market
are Fujitsu Limited, Intel Corporation, Renesas Electronics
Corporation, Abbott Laboratories, Ericsson Ab, Telefonica SA, IBM
Corporation, Jawbone Inc, Bluetooth SIG, General Electric Company (GE),
and ST Microelectronics.
A research study by Transparency Market
Research finds that the global market for body area network is in a
nascent stage and is primed to grow at a cracking pace in the next
couple of years. The report projects the market to attain a value of
US$62,120.9 mn by 2025 by rising at a phenomenal 24.7% CAGR over the
course of the forecast period from 2017 to 2025.
Depending upon the devices, the global
body area network market can be split into wearable devices and implant
devices. The wearable devices at present hold a greater share in the
market on the back of rising sales of smart watches and wrist watches
resulting from the increasing spending capacity of people worldwide.
During the forecast period between 2017 and 2025, the wearable devices
segment is expected to rise at a double digit CAGR.
From a geographical perspective, North
America takes the cake with maximum share in the market for body area
network. The market in the region, which is being mainly powered by
Canada, has been driven by tremendous thrust on product development,
which in turn has been facilitated by the enormous backing from
crowd-funding platforms. Going forward too, the market in North America
is likely to retain its dominant share. The TMR report projects the
market to attain a value of US$25.39 bn by 2025.
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Real Time Patient Data Provided by Body Area Networks Benefits their Demand
The growing number of applications of
body area networks are serving to fillip their market. One of them is
the real time data of patients that they produce, which is sought after
by doctors and medical institutes. Such data helps to bring about proper
diagnosis and eventually accurate treatment. It can also be leveraged
in military applications, sports, and entertainment.
For example, in the domain of sports,
body area networks can help to measure muscle oxygen and how much oxygen
an athlete consumes while training. “BSX Athletics wearable device
rolled out a calf compression sleeve for legs. The calf compression
sleeve is outfitted with a sensor having LED lights that is placed in
sleeve pocket. The LED records and reports real-time oxygen levels. Real
time data is helping sports coaches to monitor athlete’s performance in
real time,” elaborates the lead analyst of the TMR report with an
example.
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