Wearable Sensor Industry Worth $2.5 bn in 2020

The wearable sensor industry will be worth $2.5 billion in 2020, having tripled in size since 2014. This comes despite the significant economic challenges presented by the COVID-19 pandemic, which has caused a reduction in the total revenue this year. However, the industry is expected to progress back to significant growth from 2021, reaching annual revenue of over $8bn per year by 2031.

These are the headline findings from the latest IDTechEx report "Wearable Sensors 2021-2031", which characterizes the entire industry landscape for wearable sensors.

The report looks at the sensor's place within the wearable devices, describing the technology and value chain behind each sensor, as well as the emerging landscape for each. For example, on the wrist, we have seen optical heart rate metrics be introduced and then expanded to include additional features such as heart rate variability (HRV) and blood oxygen (spO2) metrics (as seen in the Apple Watch 6 and other competitive products). However, there is additional potential for these functions to expand, adding more wavelengths on the optical chips and opening up new potential applications into the future.