Fitness Tracker Market Size to reach USD 91.98 Billion | Rising in United States and United Kingdom | Fortune Business Insights
The global ”Fitness Tracker Market” is expected to reach USD 91.98 billion by 2027, exhibiting a CAGR of 15.2% during the forecast period. The rising adoption of wearable devices among the young population will significantly bolster healthy growth of the market, states Fortune Business Insights, in a report, titled “Fitness Tracker Market Size, Share &COVID-19 Impact Analysis, By Device Type (Smart Watches, Fitness Bands, Smart Glasses, Smart Clothing, and Others), By Application (Heart Rate Tracking, Sleep Measurement, Glucose Measurement, Sports, Running, Cycling Tracking), By Distribution Channel (Online, Retail, and Others), and Regional Forecast, 2022-2027” the market size stood at USD 30.41 billion in 2019.
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|
North America |
United States, Canada and Mexico |
|
Europe |
Germany, UK, France, Italy, Russia and Turkey
etc. |
|
Asia-Pacific |
China, Japan, Korea, India, Australia, Indonesia,
Thailand, Philippines, Malaysia and Vietnam etc. |
|
South America |
Brazil, Argentina, Columbia etc. |
|
Middle East & Africa |
Saudi Arabia, UAE, Egypt, Nigeria and South
Africa |
High Proclivity towards Fitness to Boost
Demand for Fitness Trackers
The rising
alertness of an individual’s well-being and health will create lucrative
opportunities for the market. These fitness trackers help track sleep patterns,
measure heart-rate, sports activities, and others, thus leading to a healthy
lifestyle. The surge in the fitness industry owing to the growing young
population in countries such as India and China will influence the fitness
tracker market growth. The propensity for health clubs and gyms among
millennials will have an astonishing impact on the market. Hectic lifestyles
can cause stress, anxiety, and depression, hence leading to deteriorated
health. The rising necessity for physical activities and healthy diet plans due
to the sedentary lifestyle will spur the market's opportunities in the
foreseeable future.
Integration of Innovative Features in
wearables to Augment Business
The global market
is steered by the dominance of major companies offering dynamic products to the
healthcare industry. The robust product portfolio of Apple makes it a top brand
among other companies. The focus towards innovative products with enhanced
features and functionalities by key players will maintain their market
position. For instance, in September 2019, Apple launched its Apple watch
series 5 with advanced features that include tracking onboard heart rate and
GPS. The wearable device helps to monitor several physical activities with high
accuracy. Hence, the ongoing development of innovative products by companies
will subsequently enable speedy expansion of the market.
Major Fitness Tracker Market Key players covered in the report
include:
- Gramin
Ltd (Kansas, United States)
- Apple
Inc (California, United States)
- Fitbit,
Inc. (California, United States)
- Pebble
Technology Corp (California, United States)
- (Suwon-si,
South Korea)
- Google
Inc. (California, United States)
- Xiaomi
Technology Co., Ltd. (Beijing, China)
- Jawbone
(California, United States)
- Nike
(Oregon, United States)
- Other Players
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