Wearable Fitness Tracker Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Technology & Media Report Format : PDF Report Code: ZMR-5820 Status : Upcoming

Description

Global Wearable Fitness Tracker Market: Overview

A wearable fitness tracker is a device that is worn by the user to keep track of several body parameters throughout the day. The user needs to input physiological details including their height, weight, and gender to enable the tracker to use the collected data in a better sense. Such personalization helps to process the data that is been generated by the tracker. Several sensors can be added to the wearable fitness tracker but usually motion sensors are widely used to determine movements of the body.

Global Wearable Fitness Tracker Market: Growth Factors

The global wearable fitness tracker market is growing at a rapid pace. Factors such as a change in lifestyle, increase in disposable income, and growing concerns of lifestyle-related diseases are augmenting the growth of the global wearable fitness tracker market. The use of wearable technology has enabled the user to live a healthier and fitter life owing to its ability to track fitness levels. It collects the data and converts it into metrics including sleep quality, steps count, general activity, calories burned, and much more. The wearable fitness tracker benefits the user by enabling to keep track of the progress, helps in setting achievable goals, monitor health, user-friendly interface, helps to stay motivated, and provides workout ideas that are been personalized to cater current fitness level of the user. In addition to this, there is a rise in the prevalence of lifestyle-related diseases including obesity, heart diseases, stroke, and much more. To overcome such diseases, most people across the world are mainly focusing on their health and well-being with the prime preference being self-care. Thus, the broad spectrum of benefits offered by the wearable fitness tracker, rise in prevalence of the diseases, and consumer preference towards healthy lifestyle are the factors that are combinedly contributing to the growth of the global market. Furthermore, continuous development in wearable technology to offer the user advanced features will lead to several opportunities for the growth of the global wearable fitness tracker market over the forecast period. However, questionable accuracy, battery run-time, and high cost are some of the issues associated with wearable fitness trackers which may limit the growth of the global wearable fitness tracker market.

With the growing importance of a healthy lifestyle in the COVID-19 pandemic situation, the demand for wearable fitness devices is observed escalating. The COVID-19 infections affected almost all the regions around the world which show the importance of health to conquer such infections. this has resulted in high investment in wearable fitness devices. The growth of the market has seen more in developing countries where strong online shopping options are available.

Global Wearable Fitness Tracker Market: Segmentation

The global wearable fitness tracker market is bifurcated into product type, wearing type, application, end-user, and region. Based on the product type, the segment is divided into smartwatches, activity monitors, and smart clothing. Based on the wearing type, the global wearable fitness tracker market is split into headwear, handwear, and legwear. The application segment is comprised of heart rate tracking, sleep measurement tracking, sport, running, cycling tracking, and glucose measurement tracking. The end-user segment is bifurcated into the hospital and diagnostic centers, sport, and others.

Global Wearable Fitness Tracker Market: Regional Analysis

Considering the geographical market positioning, North America is expected to dominate the global wearable fitness tracker market in terms of revenue. Factors such as well-established healthcare infrastructure, high adoption of wearable fitness devices owing to awareness regarding advanced medical fitness tools, high per capita income, presence of key market players, and high buying power of customers contributing to the large revenue in the market. Europe is expected to stay in the second position in the global wearable fitness tracker market. However, the rapid growth of the market is expected in Asia Pacific over the forecast period. Factors such as growing disposable income, growing awareness about healthy lifestyle, and availability of low-cost fitness devices in the region is expected to contribute to rapid revenue generation in this region. 

Global Wearable Fitness Tracker Market: Competitive Players

The nature of the global wearable fitness tracker market is highly competitive, due to large growth opportunities in this market, key players are focusing to grab untouched market to increase the revenue. Major players operating in this market include Apple Inc, Fitbit Inc, Adidas AG, Samsung Electronic Co. Ltd, Nick Inc, Lumo Bodytech Inc, Moov Inc, and Jawbone.

Global Wearable Fitness Tracker Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

Table Of Content


Frequently Asked Questions

The global wearable fitness tracker market is growing at a rapid pace. Factors such as a change in lifestyle, increase in disposable income, growing concerns of lifestyle-related diseases are augmenting the growth of the global wearable fitness tracker market. Furthermore, continuous development in wearable technology to offer the user advanced features will lead to several opportunities for the growth of the global wearable fitness tracker market over the forecast period.

The nature of the global wearable fitness tracker market is highly competitive, due to large growth opportunities in this market, key players are focusing to grab untouched market to increase the revenue. Major players operating in this market include Apple Inc, Fitbit Inc, Adidas AG, Samsung Electronic Co. Ltd, Nick Inc, Lumo Bodytech Inc, Moov Inc, and Jawbone.

Considering the geographical market positioning, North America is expected to dominate the global wearable fitness tracker market in terms of revenue. Factors such as well-established healthcare infrastructure, high adoption of wearable fitness devices owing to awareness regarding advanced medical fitness tools, high per capita income, presence of key market players, and high buying power of customers contributing to the large revenue in the market.

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