Optical Pulse Sensor Market by Application and Geography - Forecast and Analysis 2020-2024

“The Optical Pulse Sensor Market study is a comprehensive report with in-depth qualitative and quantitative research evaluating the current scenario and analyzing the growth of USD 1.36 billion and CAGR of 14% by segment Application and Geography during the forecast period 2019 to 2024” 

Furthermore, this report extensively covers market segmentation by application (smart bands, smartwatch, chest straps, and smart clothing) and geography (North America, APAC, Europe, South America, and MEA) The market report also offers information on several market vendors, including Maxime Integrated Products Inc., Microchip Technology Inc., NXP Semiconductors NV, ON Semiconductor Corp., OSRAM GmbH, ROHM Co. Ltd., Silicon Laboratories Inc., STMicroelectronics NV, Texas Instruments Inc., and Vishay Intertechnology Inc.

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Parent Market Analysis

Technavio categorizes the Optical Pulse Sensor Market as a part of the Information technology industry within the Electronic Equipment, Instruments & Components industry. Our Technavio research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the forecast year. 

Optical Pulse Sensor Market: Key Drivers, Trends, and Challenges

Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the smart room heater industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge. 

Key Optical Pulse Sensor Market Driver

One of the key factors driving growth in the market is the rising adoption of wearable devices. The smart bands market in APAC is expanding due to the proliferation of low-cost smart bands in this region and a decline in their ASPs. Increasing disposable income and internet penetration are encouraging smart band vendors to tap the growth potential of the market in the region. Vendors are focusing on developing countries to expand their revenue and market base. The ASP of these devices is expected to decline during the forecast period, making them attractive for price-sensitive consumers. Multiple vendors have adopted online and offline channels to enter APAC. Consumers use smartwatches, smart bands, and chest straps to monitor daily fitness and health activities, listen to music, check virtual/3D videos, play virtual games, and access social networking websites such as Facebook, LinkedIn, and Twitter. In the US, the popularity of these devices is the highest among the young population. In 2016, 27% of the population under the age of 25-34 years used activity monitoring devices in the US.

Key Optical Pulse Sensor Market Trend

The increasing popularity of diagnostic wearable devices will be a major challenge for the market during the forecast period. Diagnostic wearable medical devices play an important role in monitoring a range of medical conditions such as hypertension, blood glucose levels, heart rate, body temperature, daily activities, and sleep patterns. Advances in some diagnostic wearable medical devices have led to an increased number of individuals using these devices. The integration of information technology in most diagnostic wearable medical devices is increasing, and the automated generation of medical records in digital format (electronic health record) has driven the demand for advanced devices. The rise in the use of diagnostic wearable medical devices for regular personal health monitoring is expected to boost the global market. Moreover, with many potential players entering this industry, the competition is gradually increasing. The decline in the prices of smart wearable devices will decline the price of heart rate monitoring devices, which will increase their demand in developing countries such as India and China, where the awareness about these products is high, but the affordability is low. 

Optical Pulse Sensor Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain, and parent market of the market which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.

Who are the Major Optical Pulse Sensor Market Vendors?

Maxim Integrated Products Inc. - The company offers a wide range of optical pulse sensors such as MAX86141, MAX30100, and MAX30102 this is an optical pulse oximeter and a heart-rate sensor for wearable health. Under the unified segment, the company designs develop, manufactures, and markets a broad range of linear and mixed-signal integrated circuits.

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

• Maxim Integrated Products Inc.
• Microchip Technology Inc.
• NXP Semiconductors NV
• ON Semiconductor Corp.
• OSRAM GmbH
• ROHM Co. Ltd.
• Silicon Laboratories Inc.
• STMicroelectronics NV
• Texas Instruments Inc.
• Vishay Intertechnology Inc.

 

This statistical study of the market encompasses successful business strategies deployed by key vendors. The market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market. The market report contains comprehensive market knowledge and an in-depth vendor landscape add-on to an analysis of the key vendors.

Which are the Key Regions for Optical Pulse Sensor Market?

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37% of the market’s growth will originate from North America during the forecast period. The US is the key market for optical pulse sensors in North America. Market growth in this region will be slower than the growth of the market in other regions.

The US was the major contributor in North America due to the high affordability and availability of wearable devices. Also, the presence of major end-users such as Fitbit and Apple contributes to the dominant market share of the Americas. This growth is likely to be fueled during the forecast period due to the increased prevalence of heart diseases. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Application Segments in the Optical Pulse Sensor Market?

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The market share growth by the smart bands segment will be significant during the forecast period. The smart bands segment is dominating because of the significant number of global shipments of smart bands due to their health monitoring capabilities, and they are inexpensive. However, the revenue share from this segment will decline by the end of the forecast period. As smart clothing offers similar and accurate functions when compared with smartwatches, the growth of the smart clothing segment will result in the cannibalization of the smart bands segment. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.

Optical Pulse Sensor Market Scope
Report Coverage	Details
Page number	120
Base year	2019
Forecast period	2020-2024
Growth momentum & CAGR	Accelerate at a CAGR of 14%
Market growth 2020-2024	$ 1.36 billion
Market structure	Concentrated
YoY growth (%)	11.20
Regional analysis	North America, APAC, Europe, South America, and MEA
Performing market contribution	North America at 37%
Key consumer countries	US, South Korea (Republic of Korea), China, Germany, and Japan
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	Maxim Integrated Products Inc., Microchip Technology Inc., NXP Semiconductors NV, ON Semiconductor Corp., OSRAM GmbH, ROHM Co. Ltd., Silicon Laboratories Inc., STMicroelectronics NV, Texas Instruments Inc., and Vishay Intertechnology Inc.
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Optical Pulse Sensor Market Report?

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive market growth during the next five years
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the optical pulse sensor industry across North America, APAC, Europe, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of market vendors

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