According to the latest research by Future Market Insights, stress tracking devices market is set to experience positive growth during the year 2021-2031. The global stress tracking devices is witnessing demand every year as stress become apparent each year.
Prolong stress is known to have a negative impact on individuals. Therefore, the ability to track stress levels on convenient wearables or mobile devices can be very important.
Fitbit Sense will be the first wearable to track stress through electrodermal activity. In 2021, a growing number of wearables will be tracking stress. Even before the Covid-19 pandemic, the majority of Americans reported experiencing daytime stress and nearly half said they felt they were worried about a lot. Covid-19 pandemic is only exacerbating stress levels.
Some leaders in the health-tech space, including Garmin, Whoop, Samsung Health and Oura, have previously used heart rate data to track stress levels.
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What is Driving Demand for Stress Tracking Devices Market?
According to a recent study conducted at ITOnline, 66% of respondents use mobile apps to manage their health. A closer look at the study revealed that 79% of respondents were willing to manage their health through wearable devices.
It is expected to increase in number as the FDA encourages the development and use of mobile apps and stress tracking devices to improve healthcare and provide valuable health information to healthcare professionals.
CardioChip (NeuroSky), the world’s smallest ECG chip, it contains an easy-to-use SDK that allows it to adapt to use in any wearable device.
According to Tracker IDC, about 5% of wear shipped worldwide last year came from Fitbit, below Apple’s 32% share. Aiming to challenge Apple together, Google agreed to buy the Fitbit in November 2020 for $2.1 billion.
Released in December 2020, Cove tracks stress via heart rate to a device that wraps around the back of the head, vibrates quietly from behind the ears, soothes the wearer and promotes better sleep. The vibration frequency of Cove was designed to stimulate nerve endings in the skin, activate the posterior insular cortex of the brain, and relieve stress.
Increasing Incidence of Stress Likely to Augment Stress Tracking Devices Sales
Some of the most common stressors, like money, work and family responsibilities, never change. However, in 2020, a number of new contenders appeared, including the Covid 19 pandemic, the controversial political atmosphere and more.
According to the American Psychological Association, 2020, about one-third of the world’s population reported feeling stressed, anxious or angry. About eight out of ten Americans reported that the coronavirus (COVID19) has induced stress.
According to The American Institute of Stress, It is estimated that U.S. industry spends more than $ 300 billion annually due to absenteeism, turnover, and reduced productivity, medical, legal and insurance costs due to work stress. Stress costs businesses an estimated $125 billion to $190 billion in additional health.
U.S. And Canada Stress Tracking Devices Market Outlook
It is estimated that stress causes $300 billion in losses to the U.S. economy every year. According to a June 2015 study by the New York University Langone Medical Centre, more than 50% of smartphone users in the United States have downloaded health-related applications to their devices.
With the popularity of such health monitoring technologies, successful developers must ensure that their products continue to evolve to meet consumer needs and standards. Stress is affecting productivity in the workplace and is leading to an increase in sick and long vacations. Although stress can cause chaos in the professional world, it can also affect people’s personal lives and overall physical and mental health.
Europe Demand Outlook for Stress Tracking Devices
Work pressure is common throughout Europe. Ineffective work control between people is the main source of pressure, and the negative geopolitical situation in Europe threatens stability issues.
In Europe, according to data from the WHO, nearly 83 million of the European adult population are affected by mental disorders each year, and the proportion of women is higher than that of men. This means high demand for stress and anxiety devices. The market is witnessing the integration of artificial intelligence technology into test solutions to improve functionality.
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Who Are The Key Manufacturers And Suppliers of Stress Tracking Devices Market?
Some of the key players operating in the stress tracking devices market are
- Oura Health Oy.
- WHOOP
- NeuroSky
- Garmin Ltd
- Fitbit Inc.
- Apple Inc.
- SAMSUNG
- Pebble Technology Corp.
- Google Inc.
- Xiaomi Technology Co. Ltd.
- Jawbone and Nike.
Oura Health Oy launched the Oura Ring, Personalized insights and award-winning design wrapped around your finger. The Oura Ring makes accurate health information personal and accessible to everyone.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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