Fitness Tracker Market- Strategy, Revenue, Opportunity, Business Segment Overview And Key Trends 2022-2028
Fitness Tracker Market was valued at USD 22034.2 Million in 2019 and is projected to reach around USD 67931.2 Million by 2025, at a CAGR of 17.45% during the forecast period.
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Increase in disposable income of consumers and increasing use of fitness tracking apps on smartphones are the major factors stimulating the growth of global fitness tracker market.
Fitness tracker includes high-end activity tracking features and interactive operating systems such factor increasing demand for Fitness tracker.
Scope of Global Fitness tracker Market Reports –
Fitness Tracker are a device or application used to monitor and track fitness-related measure such as distance walked or run, calorie consumption and, in some cases, heart rate. It is a technology-based product that provides a variety of fitness and health monitoring options for people with health concerns. The term is now mainly used for smart watches, which in many cases can be synchronized wirelessly with a computer or smartphone for long-term data tracking. By having a fitness tracker one can stay accountable by will reminding you every day for getting into physical activity and also helping you push harder during your workouts. Fitness tracker can also help you measure your pulse and heart rate thereby making sure you’re not overdoing your workout or any physical activity. Setting goals is a key function of the fitness tracker, which allows you to set goals and maintain your investment in goal progression. Setting goals is the right way to focus on and reach goals, so people who focus on losing weight use it extensively. The fitness tracker offers different exercise ideas, which can be customized according to your current fitness level.
Key Players
Market Segmentation:
By Device Type:
By Display Type:
By Compatibility:
By Age Group:
By Sales Channel:
By Application:
By End-users:
Market Dynamics
The increasing use of fitness tracking apps on smartphones is the main driver of the fitness tracker market. The functions and design levels provided by these fitness tracking apps can help individuals stay healthy, thereby improving the level of functionality. Due to their easy access and low cost, consumers are increasingly inclined to use these applications. In addition, due to the continued growth of the elderly population and related diseases (such as diabetes) in this age group, the demand for wireless equipment production and continuous health monitoring has increased. According to American Diabetes Association (ADA), approximately 34.2 million American citizens, which is nearly 10.5% of the population, had diabetes in 2017 and is expected to increase by about 54% to more between 2015 and 2030 which has prompted users to continuously monitor their heath related parameters which is going to boost this market. However, the high cost as well as the risk of data stealing by interfering connections of these device are restraining the growth of global fitness tracker market. Significant opportunities exist in the hybrid watch and fashion accessories market which will stimulate growth in this market. Hybrid watches combine traditional mechanical watches with smart watches and fashion accessories such as rings, bracelets, bracelets, brooches and necklaces.
Fitness tracker Market is anticipated to show a significant growth owing to the increasing adoption of technology, rising acceptance towards smart gadgets and benefits of fitness trackers. In addition, user-friendly devices and growing health awareness are some other factors drives the growth of the fitness tracker market within the forecast period. However, high cost of the devices and constant change in technology or product development are the factors restraining the growth of fitness tracker market. However, increasing health awareness among people may provide an opportunity for growth of fitness tracker market over the forecast period. For example; as per the Fitness industry statistics the industry grew to around 200,000 clubs globally, serving 162 million members, the market is huge to attract more consumer some technology development and cost reduction provide an opportunity to the market. Fitness and lifestyle is the major segment amongst the current 423 wearable device in the market.
North America has been the market leader so far and it is expected that North America remains dominant in future as well in the Global Fitness tracker market mainly due to the presence of major players such as Fitbit, Apple, and Fossil etc. Additionally, there is increase in prevalence of chronic diseases, rise in the adoption of fitness trackers for health monitoring, high affordability and increasing healthcare spending. As per National Health Council, chronic diseases affect around 133 million Americans, which represents more than 40% of the country's total population. By 2020, this number should reach 157 million, including 81 million under several conditions. Due to population growth, technological advances and stable economic growth, the demand for fitness trackers in the Asia-Pacific region is expected to increase rapidly. Fitness trackers have been widely accepted by Chinese customers because people in the country have increased fitness awareness. The evolution of the standard of living, the increase in the number of fitness enthusiasts and the increase in the young population are the main growth factors of the Japanese fitness tracker market.
By Region Analysis :
North America
Europe
Asia-Pacific
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Latin America
Middle East and Africa
Key Benefits
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Our Market Research Solution Provides You Answer to Below Mentioned Question:
●??????????????????????Which are the driving factors responsible for the growth of the market?
●??????????????????????Which are the roadblock factors of this market?
●??????????????????????What are the new opportunities, by which market will grow in coming years?
●??????????????????????What are the trends of this market?
●??????????????????????Which are the main factors responsible for new product launches?
●??????????????????????How big are the global & regional markets in terms of revenue, sales, and production?
●??????????????????????How far will the market grow in the forecast period in terms of revenue, sales, and production?
●??????????????????????Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
●??????????????????????How will each segment grow over the forecast period and how much revenue will these segments account for in 2028?
●??????????????????????Which region has more opportunities?
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