As a result the market sensors in wearable electronics is set to double in 2015, in terms of units shipped. This will likely benefit STMicroelectronics NV (Geneva, Switzerland), the market leader in sensors for wearables, IHS said.
The strength of user demand for wearable gadgets is such that shipments of sensors used in wearable electronics will rise by a factor of seven from 2013 to 2019, IHS added. So that's 67 million units shipped in 2013 followed by about 85 million units in 2014. And next year the market will double to 175 million units before continuing its rise to 466 million units shipped in the year 2019, as presented in the figure below.
The market for sensors will rise more quickly than the market for wearable electronics as more sensors are included with each equipment iteration. So in contrast, IHS forecasts the market for wearable equipment will move from 50 million units in 2013 to 135 million units shipped in 2019.
Worldwide MEMS and sensor shipments for use in wearables (millions of units). Source: IHS.
The average wearable device shipped in 2019 will incorporate 4.1 sensor elements, up from 1.4 in 2013.