Fitness Tracker Market Report 2020: Market Capacity, Market Overview, Consumption, Status and Prediction 2027
The global fitness tracker market size was USD 41.60 Billion in 2021 and is expected to register a revenue CAGR of 18.4% over the forecast period, according to the latest report by Emergen Research. Rising health awareness among consumers along with rise in disposable income, and increasing prevalence of chronic diseases are some key factors expected to drive revenue growth of the market during the forecast period.
The COVID-19 pandemic has led to a rise in health
awareness among consumers along with rise in the cost of healthcare, and this
resulted in deployment of various initiatives to prevent chronic diseases.
According to a survey of over 5,000 adults conducted by Public Health England,
80% of people aged over 18 have decided to change their lifestyle in 2021.
Around 39% of adults between the age of 40 to 60 years had decided to lose
weight and 41% of adults decided to exercise more often. In addition, the
growing influence of fitness influencers on social media platforms like
Instagram and YouTube has further motivated people to adopt a fitness routine
and focus on health.
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Rising prevalence of chronic diseases such as
chronic respiratory diseases, cardiovascular diseases, and type 2 diabetes
mellitus (T2DM) has led to increase in demand for fitness trackers. For
instance, Fitbit Premium users access tools to analyze trends of glucose
levels in blood and fall in level of glucose within 30 days. Fitbit Health
Coach features use blood glucose levels to devise customized fitness plans.
Similarly, Apple Watch users can sync their data with blood glucose monitoring
apps like Apple Health. This is expected to increase demand for fitness trackers
and drive revenue growth of the market. Furthermore, increasing competition
among market players to manufacture smart and innovative fitness trackers is
further expected to drive revenue growth of the market.
The competitive
landscape of the report has been formulated by considering all the vital
parameters such as company profiling, market share, recent developments and
advancements, gross margins, product portfolio, revenue generation, financial
standing, market position, and expansion plans. The report also discusses in
detail the recent mergers and acquisitions, joint ventures, collaborations,
product launches and brand promotions, agreements, corporate and government
deals, and partnerships, among others. The report also sheds light on the
recent technological developments and product advancements in the Fitness
Tracker market.
The leading market contenders listed in the
report are as follows:
Google LLC, Apple,
Inc., Fitbit, Inc. (Google LLC)., Garmin Ltd., Beienda, Inc., Ambiotex GmbH,
Hexoskin, Huawei Technologies, Nurvv Ltd., Oura Health Ltd., and Withings.
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Regional Segmentation
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of
EU)
Asia Pacific (India, Japan, China, South
Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest
of Latin America)
Middle East & Africa (Saudi Arabia,
U.A.E., South Africa, Rest of MEA)
Emergen Research has segmented the
global fitness tracker market on the basis of device type, distribution channel,
application, and region:
Device Type Outlook (Revenue, USD
Billion; 2019-2030)
Smartwatches
Fitness Bands
Smart Glasses
Smart Clothing
Others
Distribution Channel Outlook (Revenue,
USD Billion; 2019-2030)
Online
Offline
Application Outlook (Revenue, USD
Billion; 2019-2030)
Running
Cycling
Heart Rate Tracking
Stress Management
Others
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Valuable Market Insights:
The report
highlights the latest trends observed in the consumption pattern of each
regional segment.
Extensive market
segmentation included in the report helps better understand the revenue and
estimated growth of the individual regions.
The report throws
light on the historical and current market scenarios and provides a concise year-on-year
growth rate of the global Fitness Tracker market.
The report further
entails the current market trends, technological advancements, revenue growth,
and other aspects affecting market growth.
Questions addressed in the report:
What is the estimated
market growth rate throughout the forecast period?
Which end-use
industry is expected to witness the highest demand for Fitness Tracker in the
near future?
What is the
regulatory framework governing the application of Fitness Tracker in the food industry?
Which manufacturing
processes are utilized for the production of Fitness Tracker?
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