The global fitness tracker market is estimated to arrive at USD 138.7 billion by 2028. It is projected to develop by 18.9% CAGR in the period of the forecast.
Rising stages of consumer disposable incomes, increasing acceptance of the smart phones, accessibility of the internet, and growing alertness about fitness are some of the factors, adding to the enlargement of the market for fitness tracker.
Besides, the increase in cases of fitness problems, associated with the inactive daily life and the increasing occurrences of fatness plus Cardiovascular Diseases (CVDs), are expected to enhance the demand for the product. The increasing alertness about the healthiness, particularly in the younger people having elevated disposable incomes, is expected to impel the fitness tracker market.
Moreover, the eruption of Covid-19 pandemic has caused an augmentation in the alertness about fitness; it has given rise to growth in the acceptance of fitness trackers. On top, the companies presented some particular tracking suggestions for Covid-19, to acquire the rising market demand plus the altering necessities of the customers. For example, Fitbit Inc. presented Sense having features to monitor SpO2 levels, stress management as well as ECG, to encounter the increasing demand.
Associations for retail sale of the product plus extensive delivery network of the companies have made it possible the availability of the most modern products, in the global fitness tracker market. Taking up of the online outlet as well as increasing e-commerce segment, additionally, push the enlargement of the market.
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Further key findings from the report suggest:
• On account of the rising infiltration of e-commerce podium, increasing consciousness about the healthiness, increasing disposable income of the customers and growing acceptance of the product are the factors, due to which the Asia Pacific is anticipated to be the highest rising local market, during the forecast period
• Due to the simpler availability and user-friendliness, the online distribution channel section retained the maximum share of the market, in 2020
• The smart watch section led the market for fitness tracker, in 2020, due to the greater demand for these devices because of their functions and features, like communication as well as health tracking
• In 2020, North America held the highest revenue share and led the global market, due to the upper stages of disposable income of the consumers, continuous modernization of the product done by the manufacturing companies, and extensive usage of internet plus the smart phones
• The fitness band division is likely to record the highest CAGR, during the forecast period, because of the moderately low down prices of these devices as well as the availability of sophisticated products having features, like sleep and stress monitoring
Million Insights segmented the global fitness tracker market based on Distribution Channel, Application, Type, and Region.
Fitness Tracker Type Outlook (Revenue, USD Million, 2016 - 2028)
• Smart Watches
• Fitness Bands
• Smart Clothing
Fitness Tracker Application Outlook (Revenue, USD Million, 2016 - 2028)
• Heart Rate Tracking
• Sleep Monitoring
• Glucose Monitoring
• Cycling Tracking
Fitness Tracker Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)
Fitness Tracker Regional Outlook (Revenue, USD Million, 2016 - 2028)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
• South Africa
Various companies for fitness tracker market are:
• Fitbit, Inc.
• Oura Health Ltd.
• Huawei Technologies
• Ambiotex GmbH
• Garmin Ltd.
• Apple, Inc.