Fitness Tracker Market
Fitness Tracker Market Forecasts to 2030 - Global Analysis By Type (Smart Bands, Smart Clothing, Smart Watches and Other Types), Wearing Type, Compatibility, Compatibility, Distribution Channel, Application and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $53.1 BN |
|
Projected Year Value (2030) |
US $185.0 BN |
|
CAGR (2023 - 2030) |
19.5% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Fitness Tracker Market is accounted for $53.1 billion in 2023 and is expected to reach $185.0 billion by 2030 growing at a CAGR of 19.5% during the forecast period. An instrument for monitoring fitness-related activities, such as steps taken, walking distance, heart rate, and sleep duration, is a fitness tracker. It's offered as eyeglasses, leggings, earphones, bracelets, and other accessories. These utility devices may wirelessly network with computers or mobile devices. The two main displays of a fitness tracker are a colorful display and a monochrome display. Both retail and online sales of these devices are possible.
According to WHO's 2019 Global Health estimates, non-communicable diseases now account for seven of the world's top ten causes of death. According to Planet's breach report, an unprotected database containing data from fitness trackers and wearables exposed more than 61 million records.
Market Dynamics:
Driver:
Growing awareness related to health and fitness
The increased desire to keep fit and healthy and track fitness activities is what is driving the market for fitness trackers. The monitoring devices have come a long way from being simple pedometers to intelligent gadgets with a colorful display that monitor activity, track sleep patterns, measure heart rates, and more. Additionally, frequent exercise lowers tension, anxiety, and depressive symptoms. People are being pushed by their increasing health issues to engage in both a healthy diet and physical activity. Their use of fitness trackers to keep track of their workouts increases demand for fitness monitoring solutions.
Restraint:
Privacy and safety issues
As the internet of things (IoT) develops, privacy problems will only become more of a worry. Security issues with smart watch fitness trackers are comparable to those with other IoT and smart devices. A major security problem is the capacity of fitness tracker devices to track location and identify position. Additionally, since fitness tracker bands are continuously linked to the phone, there is a greater risk of data breaches coming from the phone itself because of data synchronization. Additionally, they are useful for tracking health, but data breaches might limit the market's expansion because they pose a serious safety risk.
Opportunity:
Rise in the use of digital technology
Digital developments have led to a rise in the usage of wearables and fitness tracker gadgets. Numerous fitness applications are available, with practically all of them addressing every possible area of fitness. Some of the most user-friendly fitness applications can keep track of everything from diet to step counters to specific workouts and videos showing how to perform them. The demand for digital fitness trackers is rising as a result of the rise in digital advancements.
Threat:
High cost of fitness devices
Smart gadgets are pricey and unaffordable because to the rising demand for them brought on by the digital market and internet, and technology. All of the essential technology is available in smart watches and fitness trackers for recording health-related information, but the expensive cost of the devices can be a significant barrier to market expansion.
Covid-19 Impact:
The COVID-19 epidemic has seen an increase in the market for fitness tracker goods as a result of widespread intake and use of these tools to check heart rate and oxygen levels in the body. The major market players have expanded their research and development efforts in the fitness tracker segment as a result of this rise in use. The fact that these tech tools can also be useful for anticipating instances has fuelled demand for these fitness trackers.
The online segment is expected to be the largest during the forecast period
The online segment is expected to be the largest during the forecast period owing to some of the noteworthy benefits of online shopping for consumers such as attractive deals, ease of shopping, and faster shipping. Over the next years, the segment's growth will be aided by expanding smartphone use and internet usage, as well as increased accessibility to and popularity of e-commerce platforms due to their high levels of convenience and rapid turnaround times.
The running tracking segment is expected to have the highest CAGR during the forecast period
The running tracking segment is expected to have the highest CAGR during the forecast period. The availability of the most of these apps in the majority of fitness trackers on the market is the result of fierce competition, expanding usage, and customer preferences. Fitness monitors also keep track of the meals and liquids that are consumed. These trackers employ bluetooth to notify users of alerts when exercising, such as lifting weights or jogging. However, certain gadgets are specifically made for sports-related uses since they include capabilities like goal-setting, lap counting, and hill splitting.
Region with largest share:
North America is projected to hold the largest market share during the forecast period. The market is anticipated to be fueled by factors such as a growth in the popularity of smartphones and the internet in the United States, rising incidence of health problems linked to sedentary lifestyles, rising disposable incomes, the launch of innovative products by top industry players, and rising cases of sedentary lifestyle-related health diseases. The area is anticipated to keep a sizable share due to increased focus on creating new goods with the newest technology in branded firms and growing device popularity through digital marketing.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period owing to the high adoption of fitness trackers in the working-class population, due to steady economic expansion, technological advancements, and population growth. A bigger regional share of the fitness trackers market has been attributed to increasing adoption of fitness trackers because of the health issues linked to sedentary lifestyles and higher disposable incomes. Fitness trackers are well embraced by the market in China as a result of a surge in fitness awareness among the population.
Key players in the market
Some of the key players in Fitness Tracker market include Huawei Technologies Co. Ltd, Apple, Inc., Fitbit, Inc., Fossil Group Inc., Samsung Electronics Co. Ltd, Adidas AG, Garmin Ltd., Xiaomi Inc., Moov Inc., Huawei Technologies Co. Ltd, Lenovo Group Limited, Nike, Inc. and Lumo Bodytech Inc.
Key Developments:
In March 2023, Garmin Singapore announced the Forerunner 265 series and Forerunner 965 smartwatches with vibrant AMOLED displays. The watch offers innovative features to help athletes push the limits by planning, preparing and tracking their fitness routine.
In September 2022, Garmin International, Inc. launched a new Black Panther fitness tracker wrist watch to track the daily activities of kids. The watch design adds Avengers character watch faces that help to motivate kids to stay active.
In June 2022, The Xiaomi Band 7 fitness tracker was introduced to the world market. This tracker has more than 100 sports modes and is water-resistant.
Types Covered:
• Smart Bands
• Smart Clothing
• Smart Watches
• Other Types
Wearing Types Covered:
• Leg Wear
• Hand Wear
• Head wear
• Other Wearing Types
Compatibility Covered:
• Android
• Windows
• iOS
• Tizen
Display Types Covered:
• Colored Display
• Monochrome Display
Distribution Channels Covered:
• Offline Stores
• Online Stores
Applications Covered:
• Running Tracking
• Cycling Tracking
• Sports
• Glucose Monitoring
• Sleep Monitoring
• Heart Rate Tracking
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Fitness Tracker Market, By Type
5.1 Introduction
5.2 Smart Bands
5.3 Smart Clothing
5.4 Smart Watches
5.5 Other Types
6 Global Fitness Tracker Market, By Wearing Type
6.1 Introduction
6.2 Leg Wear
6.3 Hand Wear
6.4 Head wear
6.5 Other Wearing Types
7 Global Fitness Tracker Market, By Compatibility
7.1 Introduction
7.2 Android
7.3 Windows
7.4 iOS
7.5 Tizen
8 Global Fitness Tracker Market, By Display Type
8.1 Introduction
8.2 Colored Display
8.3 Monochrome Display
9 Global Fitness Tracker Market, By Distribution Channel
9.1 Introduction
9.2 Offline Stores
9.3 Online Stores
10 Global Fitness Tracker Market, By Application
10.1 Introduction
10.2 Running Tracking
10.3 Cycling Tracking
10.4 Sports
10.5 Glucose Monitoring
10.6 Sleep Monitoring
10.7 Heart Rate Tracking
10.8 Other Applications
11 Global Fitness Tracker Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Huawei Technologies Co. Ltd
13.2 Apple, Inc.
13.3 Fitbit, Inc.
13.4 Fossil Group Inc.
13.5 Samsung Electronics Co. Ltd
13.6 Adidas AG
13.7 Garmin Ltd.
13.8 Xiaomi Inc.
13.9 Moov Inc.
13.10 Huawei Technologies Co. Ltd
13.11 Lenovo Group Limited
13.12 Nike, Inc.
13.13 Lumo Bodytech Inc.
List of Tables
1 Global Fitness Tracker Market Outlook, By Region (2021-2030) ($MN)
2 Global Fitness Tracker Market Outlook, By Type (2021-2030) ($MN)
3 Global Fitness Tracker Market Outlook, By Smart Bands (2021-2030) ($MN)
4 Global Fitness Tracker Market Outlook, By Smart Clothing (2021-2030) ($MN)
5 Global Fitness Tracker Market Outlook, By Smart Watches (2021-2030) ($MN)
6 Global Fitness Tracker Market Outlook, By Other Types (2021-2030) ($MN)
7 Global Fitness Tracker Market Outlook, By Wearing Type (2021-2030) ($MN)
8 Global Fitness Tracker Market Outlook, By Leg Wear (2021-2030) ($MN)
9 Global Fitness Tracker Market Outlook, By Hand Wear (2021-2030) ($MN)
10 Global Fitness Tracker Market Outlook, By Head wear (2021-2030) ($MN)
11 Global Fitness Tracker Market Outlook, By Other Wearing Types (2021-2030) ($MN)
12 Global Fitness Tracker Market Outlook, By Compatibility (2021-2030) ($MN)
13 Global Fitness Tracker Market Outlook, By Android (2021-2030) ($MN)
14 Global Fitness Tracker Market Outlook, By Windows (2021-2030) ($MN)
15 Global Fitness Tracker Market Outlook, By iOS (2021-2030) ($MN)
16 Global Fitness Tracker Market Outlook, By Tizen (2021-2030) ($MN)
17 Global Fitness Tracker Market Outlook, By Display Type (2021-2030) ($MN)
18 Global Fitness Tracker Market Outlook, By Colored Display (2021-2030) ($MN)
19 Global Fitness Tracker Market Outlook, By Monochrome Display (2021-2030) ($MN)
20 Global Fitness Tracker Market Outlook, By Distribution Channel (2021-2030) ($MN)
21 Global Fitness Tracker Market Outlook, By Offline Stores (2021-2030) ($MN)
22 Global Fitness Tracker Market Outlook, By Online Stores (2021-2030) ($MN)
23 Global Fitness Tracker Market Outlook, By Application (2021-2030) ($MN)
24 Global Fitness Tracker Market Outlook, By Running Tracking (2021-2030) ($MN)
25 Global Fitness Tracker Market Outlook, By Cycling Tracking (2021-2030) ($MN)
26 Global Fitness Tracker Market Outlook, By Sports (2021-2030) ($MN)
27 Global Fitness Tracker Market Outlook, By Glucose Monitoring (2021-2030) ($MN)
28 Global Fitness Tracker Market Outlook, By Sleep Monitoring (2021-2030) ($MN)
29 Global Fitness Tracker Market Outlook, By Heart Rate Tracking (2021-2030) ($MN)
30 Global Fitness Tracker Market Outlook, By Other Applications (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
List of Figures
Figure 1 Global Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 2 North America Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 3 US Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 4 Canada Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 5 Mexico Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 6 Europe Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 7 Germany Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 8 UK Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 9 Italy Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 10 France Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 11 Spain Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 12 Rest of Europe Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 13 Asia Pacific Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 14 Japan Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 15 China Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 16 India Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 17 Australia Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 18 New Zealand Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 19 South Korea Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 20 Rest of Asia Pacific Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 21 South America Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 22 Argentina Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 23 Brazil Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 24 Chile Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 25 Rest of South America Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 26 Middle East & Africa Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 27 Saudi Arabia Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 28 UAE Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 29 Qatar Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 30 South Africa Fitness Tracker Market Outlook (2021-2030) ($MN)
Figure 31 Rest of Middle East & Africa Fitness Tracker Market Outlook (2021-2030) ($MN)
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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