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. 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. Major companies like Apple, Google, and Garmin have invested significantly to develop more innovative fitness trackers and expand their respective product portfolios.
Emergen Research’s latest document, titled ‘Global Fitness Tracker Market – Forecast to 2030,’ is one of the most sought-after market reports involving an in-depth analysis of the global Fitness Tracker market. The report’s authors have offered necessary details on the latest Fitness Tracker market trends and the crucial parameters impacting both short-term and long-term market growth. Its panoramic view of the Fitness Tracker industry entails useful insights into the estimated Fitness Tracker market size, revenue share, and sales & distribution networks. Such helpful market insights are bound to help readers outline this industry’s key outcome in the near future. Those are further intended to assist businesses involved in this sector in sound decision-making and formulating lucrative business plans. The primary addressees of this report include some of the globally renowned venture capitalists. The report offers these individuals a vivid description of the competitive spectrum of the global Fitness Tracker market.
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Key Highlights From the Report
On 16 September 2020, Apple Inc. announced Apple Watch Series 6, with a feature of tracking blood oxygen. Apple Watch Series 6 has improved hardware features, including a faster S6 System in Package (SiP) and next-generation altimeter.
Fitness bands segment accounted for a significantly large revenue share in 2021 owing to rising health awareness among consumers along with rise in disposable income. In addition, increasing government initiatives to promote healthy habits and reduce prevalence of chronic diseases is expected to support growth of this segment.
Online segment registered a significantly larger revenue share in 2021 owing to rapid growth of the e-Commerce industry and rising influence of social media platforms and participants leading to increased popularity of fitness trackers.
The global Fitness Tracker market report covers the analysis of drivers, trends, limitations, restraints, and challenges arising in the Fitness Tracker market. The report also discusses the impact of various other market factors affecting the growth of the market across various segments and regions. The report segments the market on the basis of types, applications, and regions to impart a better understanding of the Fitness Tracker market.
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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Competitive Terrain:
The Global Fitness Tracker Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold.
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.
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)
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.
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Highlights of the TOC:
1. Report Overview
1.1 Research Scope
1.2 Key Fitness Tracker market segments
1.3 Major players
1.4 Market analysis by product
1.5 Market analysis by application
1.6 Report timeline
2. Global Growth Trends
2.1 Global Fitness Tracker market size
2.2 Latest Fitness Tracker market trends
2.3 Key growth trends
3. Competitive Landscape
3.1 Global Fitness Tracker market key players
3.2 Global Fitness Tracker size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Fitness Tracker market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances
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