The up-and-coming wearable market has been the fastest growing market in the electronic industry.
According to a report from International Data Corporation (IDC), it is estimated that by 2019 the worldwide wearable device shipments will reach 126.1 million, in which 74% will be smart wearables. As the essence of any wearables, the electronic component industry is also seeing major changes due to the popularity of wearables within the global market. Research and Market, a research firm, pointed out that the global wearable electronic component market is projected to grow at a CAGR of 37.82% from 2014 to 2024, to reach over $17.47 billion by 2024.
1. Growth in Sensors
The trend to connect everything such as, health monitoring through the wrist to the Web, creates a huge demand for more sophisticated products with more sensors. Within the wearable market, the sensor shipments are expected to increase approximately seven-fold between 2013 and 2019. These sensors are embedded into wearable devices, enabling them with various functions including, image sensing, pressure sensing, motion sensing, and temperature sensing, amongst others. Moreover, the advanced microelectromechanical systems (MEMS) now allows seamless integration of an array of sensors; thus, it is normal to see multiple sensors in one wearable device. To capture this growing market, many component suppliers, such as TE Connectivity, Plessey, and TDK Corp, have established research teams and laboratories to develop components that fit these needs.
2. Requirements for Low Power Components
The portable nature of wearable devices requires them to use low power consumption components, especially for the monitoring devices that are always on and connected. Meanwhile, these devices are often powered by batteries, which require engineers to take power efficiency into consideration when designing such devices. Some popular technologies that are currently used in the market are 32-bit ARM architecture, ANT+, and Bluetooth Low Energy (BLE). With the technology advancement, we are expected to see additional low power components become available in the market.
3. Challenge on Packaging
The small size of wearable devices puts many limitations on the size and packaging of components that go into the devices, which needs a design. In some cases, the size is so small that only wafer-level chip-scale integration can provide solution. Additionally, the space, power, and application requirements of wearables devices are asking for a new approach on system design, focusing on integration and packaging. With this trend, we will see an increase in compact, integrated and small components being developed and available in the market. At Advanced MP Technology, by focusing on following the most recent developments in the technology field and staying ahead of the product cycles, we are able to help our customers source electronic components for wearable devices under any market conditions.