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 an 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.
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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.