Big Boom in Body Area Network Market 2020: Future Prediction Report 2020-2030
Body Area Network Market: Connecting the Human Body through Next-gen Telecommunication Technologies
As the healthcare industry is entering a digital age, telehealth and body sensor network technology are no longer concepts from the future. The spike in the adoption of cutting-edge technologies has been boosting the demand for telemedicine, and implementing telehealth solutions is shifting from being an option to a necessity, in the healthcare industry. As a mounting number of healthcare businesses are modifying their business models to offer value-based services, the role of sensors; miniaturized, low-power integrated circuits; and wireless networks is being upgraded in healthcare services.
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The body area network market space is too pivotal to overlook, since these body area networks are becoming a nexus of innovation in the healthcare industry, and their enormous potential with the advent of advanced technologies such as Internet of Things (IoT). Considering the body area network market, Transparency Market Research (TMR) offers its detailed viewpoint on the adoption of IoT, telemedicine, and telehealth technologies through body area networks in important areas of applications. Readers can get a 360-degree assessment of the potential for wireless body area networks with the changing demand for healthcare devices in several end-use industries, through the information featured in TMR’s study.
Harnessing Deep Learning and Big Data for Next-gen Body Area Networks
Medical Big Data, along with other technologies such as IoT and machine learning, is on the verge of becoming an indispensable part of the medical technology (MedTech) industry. The body area network market has emerged as an eminent part of various prediction systems used in medical applications, and the healthcare sector is getting its second wind.
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The integration Big Data and deep learning in body area network applications is not limited to the healthcare sector, but paving its way in other sectors too, such as the sports, fitness, and wearable industries. New businesses are implementing modern-day deep learning and medical Big Data technologies in potential real-world applications of body area networks and biomedical sensor devices that are used for monitoring the vital signs of patients.
Providers in the body area network market are riding the coattails of the health & fitness wave, and increasing consumer awareness about the availability of technologically-advanced healthcare electronic devices. In addition, the increasing reliance of consumers in maintaining health and fitness is creating immense potential for next-generation MedTech applications, such as body area networks.
In 2018, the body area network market exceeded a valuation of US$ 12 billion, and recent advancements in Big Data and machine learning technologies are expected to boost the market, to witness nearly 18% year-over-year growth in 2019. The body area network landscape is expected to grow by leaps and bounds in the future, as the technology and healthcare industry are likely to witness unparalleled growth in the coming years.
Wearables Capture 85% Revenue Share; Bluetooth to Remain the Most Trusted Technology
The influence of technologies on the recent developments in the healthcare sector has paved way for stakeholders in the body area network market. However, it has also incurred threats from cyberattacks and unethical hacking. Leading providers are on the constant hunt for protecting wearable devices connected through body area networks from hackers gaining access to the biological information of patients.
The global sales of wearables and implantable devices have increased tremendously in recent years. Wearable devices accounted for nearly 85% revenue share of the body area network market in 2018. The demand for wearables connected through body area networks in the sports industry is expected to reach new heights in the coming years, and this further aggravates the problem of hacked wearables and implantable devices, creating the need for implementing a strong security system for body area networks.
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The body area network market is evolving with advancements in technologies, while security and privacy remain paramount, as there is ample room for hackers to infiltrate with the current designs of wearables and implantable devices used in body area networks. In addition, getting higher bandwidth of data transmission and reducing battery consumption of these devices remain critical challenges for providers in the body area network market space.
Bluetooth is currently the most trusted technology implemented in body area networks, among other technologies such as Wi-Fi and ZigBee, as it accounts for over half the revenue share of the body area network market. While this trend is likely to prevail in the coming decade, the emergence of electro-quasistatic or magnetoquasistatic signals can provide body area network providers a means for much faster, more efficient, and safer transmission. Constant advancements in telecommunication technologies are expected to have a significant impact on the trends in the body area network market in the coming future.
Analysis on the Competitive Landscape of the Body Area Network Market
In case of the highly fragmented body area network market, the slew of mergers, acquisitions, and collaborations among network providers and telecommunication companies is expected to influence its competitive landscape. Leading players in the body area network market are joining forces with global leaders in the technology landscape to move ahead of the competition with highly efficient connectivity solutions.
In February 2019, Telefonaktiebolaget LM Ericsson, a leading player in the networking & telecommunications industry, partnered with Telstra, Australia’s largest telecom provider, to integrate its connectivity management services with Telstra’s IoT solutions. In January 2019, Abbott Laboratories, a leading manufacturer and seller of healthcare products, announced that it would acquire Cephea Valve Technologies, Inc., a privately-held medical device company that has expertise in less-invasive heart valve replacement technology used in the treatment of mitral valve disease.
Leading providers in the body area network market are also increasing their focus on innovation by developing next-gen technologies to stay ahead of the curve in the competitive landscape. For instance, in April 2019, Fujitsu Limited, a leading IT component & service provider, announced that it had developed a technology to improve the speed of deep-learning software, and ultimately create a newer and wider customer base, helping it penetrate emerging markets for body area networks.
Body Area Network: Definition/Overview
- A body area network (BAN) is a wireless wearable computing device. These devices can be placed in the human body or on a surface mounted on the human body in a particular position.
- The introduction of body area networks is likely to revolutionize health monitoring in the near future. The growing usage of a wide range of new technologies related to wireless networks, and the objective of improving the quality of life, have led to the development of body area networks (BANs).
- In recent years, substantial progress has been made in the field of healthcare. The integration of information & communication technology, especially wireless body area networks (WBANs) in healthcare systems for remote monitoring has become possible. In addition, by using body area networks, healthcare service providers across the globe have gained access to the resource to monitor the state of an object at any time from a remote location.
Global Body Area Network Market: Regional Overview
- North America is expected to hold a prominent market share in the global body area network market during the forecast period, due to the early penetration of body area networks in this region. South America and MEA hold minor market shares each. However, these regions are projected to provide growth opportunities to the body area network market during the forecast period.
- On the other hand, developing countries in Asia Pacific that are undergoing modernization and adopting new technology-advanced medical devices are also witnessing increase in the demand for body area networks. This, in turn, is driving the global body area network market.
Global Body Area Network Market: Market Trends
- Body area networks consist of wearable and implantable devices. Popular wearables used in body area networks, such as smart watches, are likely to be replaced by smart clothing in the near future. Smart clothing is more comfortable than wearables, and the rise in the popularity of smart clothing is expected to increase the adoption of body area network devices in the next few years.
- Moreover, rising elderly population and requirement of wearable devices for health issue monitoring are prime factors expected to boost the body area network market in Europe in the coming years.
Global Body Area Network Market: Market Driver, Opportunities, and Restraints
- The use of the body area network technology helps in reducing the cost of medical applications, and enables healthcare service providers to monitor objects remotely. The increasing need for real-time data monitoring of patients’ health from a remote location is expected to boost the global body area network market during the forecast period.
- Body area network technologies are increasingly being used for remote patient monitoring, such as blood pressure monitoring, glucose level monitoring, and monitoring of diabetes, cardiovascular diseases, and other chronic diseases. This, in turn, is expected to augment the demand for the body area network technology in the global healthcare industry in the next few years.
- However, the body area network market faces some challenges, such as lack of infrastructure, noise-interference issues, and strict rules and regulations, among others.
Global Body Area Network Market: Key Market Segments
The global body area network market has been segmented based on technology, device, end- use industry, and region
- In terms of technology, the global body area network market has been segregated into Bluetooth, Wi-Fi, Zigbee, and others.
- The Bluetooth was a dominant segment in the global body area network market in 2018.
- Based on device, the global body area network market has been bifurcated into wearable devices and implantable devices.
- Wearable devices are commonly used in body area network applications. Moreover, the growing demand for wearable healthcare monitoring devices is expected to boost the body area network market growth during the forecast period.
- End-use Industry
- In terms of end-user industry, the body area network market has been classified into healthcare, sports, and others.
- The healthcare segment is expected to be a prominent segment in the global body area network market, and is projected to maintain its share throughout the forecast period.
- The growing need for remote health monitoring is adding to the potential consumer base for body area networks, and expected to drive the growth of the body area network market during the forecast period.
Global Body Area Network Market: Competition Dynamics
- Attracted by the growth of the body area network market and the underlying latent demand for body area networks, several players operating in the global body area network market are expanding their businesses through new product developments, strategic mergers and acquisitions, and partnerships. Body area network market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.
Some of the prominent players operating in the global body area network market are
- Abbott Laboratories
- Bluetooth SIG
- Ericsson AB
- Fujitsu Limited
- General Electric Company (GE)
- IBM Corporation
- Intel Corporation
- Telefonica SA
- Renesas Electronics Corporation
- ST Microelectronics.
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