Body Area Network Market by Device Type, Component, Application, and Region - Global Forecast to 2024

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Dublin, Sept. 11, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering.

The BAN market was valued at USD 7.6 billion in 2018 and is projected to reach USD 15.8 billion by 2024; it is expected to grow at a CAGR of 11.7% from 2019 to 2024. The BAN market has been segmented by device type, component, application, and geography.

The term body area network (BAN) refers to the wireless network of wearable computing devices that can be used to track heart rate, blood pressure, calories burned, along with step counter and sleep monitoring. The growing popularity of wearable technologies such as smartwatches and smart bands has increased the demand for body area network solutions. BAN solutions primarily find applications in the medical field because these solutions monitor patients for a variety of healthcare-related conditions. BAN also finds a place in the military field as it monitors the physical locations of field personnel.Major factors driving the growth of the body area network market are increased use of smart devices for tracking physical fitness, rapid advancements in medical devices and communication technologies, and supportive government and hospital initiatives to promote digital healthcare. Utilization of advanced technologies to reduce constantly increasing healthcare expenditure and adoption of IoT in healthcare applications are likely to offer growth opportunities for players in the body area network market during the forecast period.

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Globe Newswire: 11:06 GMT Wednesday 11th September 2019

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