The global “Fitness Tracker Market Industry” 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, 2020-2027” the market size stood at USD 30.41 billion in 2019.
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What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
The report fitness tracker market comprises:
- Through analysis of the industry
- Key insights into the market
- Latest market trends and developments
- Crucial information on COVID-19
- Present and future market values
Regional Analysis:
Surging Obese Population to Aid Expansion in Europe
The market size in North America stood at USD 14.57 billion in 2019 and is expected to account for the largest share during the forecast period. The growth in the region is attributed to the growing health issues such as chronic diseases among the general population. Europe is expected to witness a substantial growth rate during the forecast period due to the growing obesity in the region. The market in Asia Pacific is expected to rise tremendously in the foreseeable future due to the growing adoption of tracking devices among the young population in countries such as Japan, China, and India. India accounts for 60% of the young people in Asia Pacific.
Preference for Fitness During Pandemic to Positively Sway Market
The occurrence of COVID-19 has caused disturbance to the business of fitness trackers because of the interruption triggered in manufacturing, production, shipment, and sales of these products. However, the ongoing development of technologically advanced products by OEMs will cater to the demand for fitness amid the coronavirus epidemic. For Instance, Fitbit announced the launch of an innovative tracker, Fitbit Charge 4. The new device will assist and offer support to customers at home during this time. Moreover, Fitbit is also providing a free 90-day trial and access to premium content, thus leading to more premium subscribers. Similarly, the growing demand for fitness products during COVID-19 will improve sales of fitness trackers through online mediums, hence boosting the market. Besides, the enormous
An Overview of the Impact of COVID-19 on this Market :
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of corona virus outbreak across industries to help you prepare for the future.
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Global Fitness Tracker Market Segmentation :
By Device Type
- Smart Watches
- Fitness Band
- Smart Glasses
- Smart Clothing
- Others
By Application
- Heart Rate Tracking
- Sleep Measurement
- Glucose Measurement
- Sports
- Running
- Cycling Tracking
By Distribution Channel
- Online
- Retail
- Others
By Geography
- North America
- By Device Type
- By Application
- By Distribution Channel
- By Country
Market Driver:
Sedentary Lifestyle of People to Spur Market Demand
The growing health issues such as obesity, lack of sleep, diabetes, and others because of the present deskbound generation will simultaneously create lucrative opportunities for the market during the forecast period. The growing emphasis on health and fitness to prevent major health conditions is expected to bode well for the market. The rising awareness about the importance of a healthy lifestyle will subsequently fuel the demand for fitness products, thus enabling the growth of the market. Additionally, an escalation in gym-goers and fitness enthusiasts has potentially spurred lucrative opportunities for the market.
Significant Development:
October 2019: Fitbit signed a partnership agreement with Bristol-Myers Squibb-Pfizer alliance to address gaps in atrial fibrillation detection to accelerate diagnosis.
The Report Lists the Main Companies in the Fitness Tracker Market:
- 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
Table Of Content :
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Définitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Trends
- New Product Launch
- Technological Advancements in Fitness Tracker Market
- Key Industry Development (Mergers, Acquisitions, and Partnerships, etc.)
- Impact of COVID-19 on the Fitness Tracker Market
- Global Fitness Tracker Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Device Type
- Smart Watches
- Fitness Band
- Smart Glasses
- Smart Clothing
- Others
- Market Analysis, Insights and Forecast – By Application
- Heart Rate Tracking
- Sleep Measurement
- Glucose Measurement
- Sports
- Running
- Cycling Tracking
- Market Analysis, Insights and Forecast – By Distribution Channel
- Online
- Retail
- Others
- Market Analysis, Insights and Forecast – By Country
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Continue…
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SECONDARY DATA SOURCES THAT WE REFER TO:
- Annual reports, investor presentation, SEC filings, and press releases of companies operating in the market
- Studies published by relevant associations MedTech Europe; American College of Radiology; Cancer Council Australia; Japan Hospital Association, etc.), government sources (Centers for Disease Control & Prevention, Ministry of Health, Labour & Welfare, Japan; National Health Service, England, etc.), international organizations (World Health Organization, The Organization for Economic Co-operation and Development, Eurostat, etc.), and articles published by Research Gate, NCBI, etc.
- Website, reports, and press releases of end user facilities – Hospitals, Ambulatory Surgery Centres, Clinics
- Industry journals and paid databases
SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.
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