A recent report by Growth Plus Reports estimated the global Fitness Trackers Market to be worth US$ 37.43 billion in 2021. From 2022 to 2030, it is expected that market revenue will grow at a CAGR of 17.5%, reaching US$ 159.74 billion. The most successful strategies, market trends, significant drivers and opportunities, the competitive environment, market size, statistical data, and revenue are all included in the report.
- Increasing health and fitness awareness drives demand for fitness monitoring products.
- The introduction of novel technologies is driving market revenue growth.
- Increasing R&D and collaborations among market players are creating a product pipeline.
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Fitness Trackers Market Scope
Market size value in 2021
USD 37.43 billion
Revenue forecast in 2030
USD 159.74 billion
CAGR of 17.5% from 2022 to 2030
Base year for estimation
Type, Application, Distribution Channel
North America, Europe, Asia Pacific, and the Rest of the World (ROW)
The rising interest in health consciousness and awareness about the importance of a healthy lifestyle among the population is fueling the demand for the global fitness tracker market revenue. Additionally, the increasing adoption of novel technology, particularly among the young generation, to track their fitness is accelerating revenue expansion. However, the high manufacturing prices, privacy and security concerns, and lack of distribution channels in the rural regions may restrain the market revenue growth.
The Growth Plus Reports have analyzed the global Fitness Trackers Market from perspectives such as device type, applications, distribution channels, and regions.
Device Types Segmentation:
Based on device type, the fitness tracker market is segmented into smartwatches, smart glasses, fitness bands, and smart clothing.
Smartwatches dominate the global market with the largest revenue share and have quickly become a significant consumer electronics component. Health monitoring, health metrics, disease-related, and other significant features drive revenue growth.
Based on application, the global fitness tracker market is segmented into heart monitoring, blood pressure monitoring, oxygen levels monitoring, sleep monitoring, calorie count, distance tracking, and glucose monitoring.
The heart rate monitoring segment accounts for the largest revenue share of the global fitness trackers market due to the increasing prevalence of cardiovascular diseases due to extreme lifestyle changes.
Distribution Channels Segmentation:
Based on distribution channels, the global fitness tracker market has been segmented into online sales and offline sales.
The online sales segment accounts for the largest market revenue share due to rising internet usage and e-commerce platforms. The offline sales segment is expected to rise significantly during the forecast period as offline stores allow consumers to examine the product before buying it and provide immediate assistance from a skilled salesforce with product knowledge, driving product sales.
Regional Growth Dynamics:
Based on region, the global fitness trackers market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America accounts for the largest revenue share in the fitness trackers market due to rising awareness and acceptance. Local manufacturers are also fueled by the growth in health issues linked to a sedentary lifestyle, the appearance of innovative goods by major market participants, and the widespread use of cell phones and the Internet in North America.
The prominent players operating in the fitness trackers market are:
- Nike Inc.
- Casio Computer Co. Ltd.
- Xiaomi Corp.
- Garmin Ltd.
- Apple Inc.
- Fitbit Inc. (Google)
- Adidas Inc.
- Samsung Group
Due to new product introductions, mergers, and acquisitions, the global market for fitness trackers is very competitive. Also, the market identified alliances, purchases, and numerous other forms of cooperation as effective development methods, raising the prospect of future revenue growth.
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- In August 2021, Catapult announced the release of Catapult One, a new generation of wearable technology. It allows athletes to monitor, assess, and enhance their competitive performance.
- In July 2021, The Venu 2S and Venu 2 smartwatches from Garmin included distinctive features, including Gorilla Glass 3 protection, an AMOLED display, and 25 built-in sports applications.
Table of Content
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2020
- Base Year – 2021
- Forecasted Years – 2022 to 2030
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trend (COVID-19 Perspective)
- Key Players & Competitive Positioning (2021)
- MARKET DYNAMICS
- GLOBAL FITNESS TRACKERS MARKET – ANALYSIS & FORECAST, BY DEVICE TYPE
- Smart Glasses
- Fitness Bands
- Smart Clothing
- GLOBAL FITNESS TRACKERS MARKET – ANALYSIS & FORECAST, BY APPLICATION
- Heart Rate Monitoring
- Blood Pressure Monitoring
- Oxygen Levels Monitoring
- Sleep Monitoring
- Calorie Count
- Distance Track
- Glucose Monitoring
- GLOBAL FITNESS TRACKERS MARKET ANALYSIS & FORECAST, BY DISTRIBUTION CHANNEL
- Online Sales
- Retail Sales
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VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- ‘Business Profile’ of Key Players
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