The global frictionless remote monitoring device market is segmented into product type such glucose monitoring device, heart rate monitoring devices, fitness tracking devices and blood pressure monitoring devices. These segments are expected to witness significant growth during the forecast period. A number of factors such as rising number of diabetic patients and rising adoption of smart healthcare technologies are driving the growth of frictionless remote monitoring device market.
Global frictionless remote monitoring device market is expected to register a robust CAGR over the forecast period. Moreover, the global frictionless remote monitoring device market is envisioned to reach at notable revenue by the end of 2024. The market is anticipated to flourish during the forecast period owing to a number of factors such as increasing acceptance of smart health wearable devices and growing concern amongst the consumers regarding wellness and fitness.
The fitness segment by application is likely to grow at remarkable pace during the forecast period. Rapid introduction of advanced wearable technologies as sleep tracking device, heart rate monitoring device and fitness bands coupled with growing adoption of these wearable fitness tracker devices by consumers is a key factor which is anticipated to drive the growth of this segment during the forecast period.
Increasing number of sick patients across the globe
Rising prevalence of chronic disease across the globe and growing need for continuous track of patient’s health are major factors which have led patients to adopt smart health tracking technologies. Further, rising adoption of health tracking devices by patients is expected to drive the growth of frictionless remote monitoring device market during the forecast period.
Increasing geriatric population
Increasing prevalence of chronic diseases in old population is escalating the consumption of smart health wearable, health tracking devices and other smart health technologies. Further, rising prevalence of cardiovascular disease is a major growing concern in the U.S. Rising number of patients suffering from cardiovascular diseases is projected to fuel the growth of frictionless remote monitoring devices market in U.S.
However, lack of technological maturity and high initial cost are some major challenges to the growth of global market. Additionally, usage restriction of wearable technology in commercial places is also a major factor which is likely to hamper the growth of frictionless remote monitoring devices market in near future.
The report titled “Frictionless Remote Monitoring Device Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global frictionless remote monitoring device market in terms of market segmentation by product, by application, by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global frictionless remote monitoring device market which includes company profiling of Fitbit Inc., Apple Inc., Xiamoi Inc., Biotricity Inc., Alphabet Inc., Abbott Laboratories, LG Electronics Inc., iHealth Lab Inc., Dexcom Inc., Koninklijke Philips N.V. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
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