Mobile health sensor market to hit $5.6B by 2017

By Brian Dolan
12:59 pm
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Last month Germany-based research firm Research2Guidance predicted that the overall, worldwide mobile health market would generate about $26 billion in revenues by 2017, but this month it broke out a 2017 revenue prediction for mobile health sensors that connect to a mobile health app: $5.6 billion. The firm believes that this segment of the market will grow at a compound annual growth rate of 69 percent and 61 million health sensors will ship in 2017. According to the company, health sensors generated about $407 million in revenue in 2012.

Research2Guidance Sensors

Research2Guidance estimates that there are currently about 200 external health-related sensors that can connect to smartphones, and most are priced between $20 and $200. Most of the 61 million sensors that Research2Guidance expects will ship in 2017 will help users track health parameters for sports and fitness activities.

Research2Guidance argues that the market today is dominated by smaller sensor companies that first launched in 2009 or 2010, but larger sports and technology companies like Nike and Samsung are ramping up their health-related offerings now, too. The firm also believes that health sensor companies will increasingly shift their business models from proprietary data silos to sensors that feed into multiple apps from third parties.

In March the firm projected that by 2017 more than 3.4 billion people will have smartphones or tablets with access to mobile health apps, and 50 percent of them will have downloaded health apps.

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