Body Area Network Market Size is Expected to Reach $30.24 Billion by 2030 as High Investment in Fitness, & Sports Sector

January 14, 2022

Body Area Network Market

PORTLAND, OREGON, UNITED STATES, January 13, 2022 / -- Allied Market Research published latest report, titled, “Body Area Network Market by Device Type (Implantable Devices and Wearable Devices), Component (Processors, Memory Modules, Displays, Sensors, Electromechanicals, Communication & Interface Components, and Others), Connectivity (Bluetooth, Wi-Fi, ZigBee, and Others), and End User (Healthcare, Sports, Fitness, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030.” According to a report, the global body area network market size was valued at $10.29 billion in 2020, and is projected to reach $30.24 billion by 2030, registering a CAGR of 11.6%. Asia-Pacific is expected to be the leading contributor toward the market during the forecast period, followed by Europe and LAMEA.

The growth of the global body area network market is anticipated to be driven by factors such as increased use of smart devices for tracking physical fitness, and rapid developments in medical devices & communication technologies. In addition, increase in government support and rise in sales of smartwatches and smart bands boost the overall market growth. However, concerns in regards to security and privacy act as major restraints for the global body area network industry. On the contrary, high demand from the Asia-Pacific region, is expected to create lucrative opportunities for the body area network industry.

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Segmental Outlook

The global Body area network market share is segmented depending on product type, application, end user, key players and region.

Segmental analysis is offered (real time and forecast) in both quantitative and qualitative terms. This helps the clients to identify the most lucrative segment to consider for their further investments, based on the comprehensive backend analysis about the segmental performance, in addition to brief understanding of the operating companies and their development activities with respect to the Body area network market.

COVID-19 Impact Analysis

The rapid spread of the coronavirus has had an enormous impact on the lives of people and the overall community. The report provides a brief overview of evolution of the coronavirus. In addition, it includes a micro- and macro-economic impact analysis. The report further showcases the market size and share depending on the impact of the COVID-19. Furthermore, reduction in the count of COVID-affected patients in the coming days with safety majors taken by governments and availability of vaccines are expected to gradually lower the impact of COVID-19 on the global Body area network market. Additionally, the report highlights the key strategies adopted by players during the global health crisis. Hence, the report provides an overview of pre- as well as post-COVID-19 impact analyses.

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Market Opportunities

Body area network market players is witnessing remunerative opportunities for expansion in the near future.

Regional Outlook

The Body area network market trends is analyzed across four key regions, which include North America, Europe, Asia-Pacific, and LAMEA. The key countries contributing toward the growth of the market include:

• North America: U.S., Canada, and Mexico
• Europe: Germany, UK, Italy, Spain, France, and rest of Europe
• Asia-Pacific: India, China, South Korea, Japan, Australia, and rest of Asia-Pacific
• LAMEA: Brazil, Saudi Arabia, South Africa, and rest of LAMEA

Competitive Scenario

The major players profiled in the Body area network market report include, Apple Inc., Fitbit, Inc., Fossil Group, Inc., Garmin Ltd., Google LLC (Alphabet Inc.), Huawei Technologies Co., Ltd., Samsung Electronics Co., Ltd., Sensoria Inc., TomTom International B.V., and Xiaomi Corporation.

The report profiles the top players operating across the globe along with market share analysis, and an outlook on top player positioning. In addition, the study focuses on the developmental strategies such as product launch, mergers & acquisitions, and collaborations adopted by the key players to maintain a competitive edge in the market space.

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Report Coverage

• Historic Data considered: 2016 to 2021
• Growth Projections: 2022 to 2030
• Major Segments Covering product type, provider, application, end user
• Market Dynamics and Body area network market Trends
• Competitive Landscape Reporting

Research Methodology

AMR offers its clients with comprehensive research and analysis based on a wide variety of factual inputs that majorly include interviews with professionals in the industry, regional intelligence, and reliable statistics obtained from multiple resources. The in-house industry experts play an important role in designing analytic tools and models, tailored to the requirements of the client for a particular industry segment. These analytical tools and models distill the statistics & data and enhance the accuracy of our recommendations and advice.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

David Correa
Allied Analytics LLP
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