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Fitness Tracker Market: Current Analysis and Forecast (2021-2027)

Region:Global

Author(s):

Product Code:UMCG21495

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Published on

October 2021

Total pages

247

Table of Content

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About the Report

About the Report

Fitness Tracker is mainly used to monitor and record fitness-related physical activities, for example, distance walked, steps taken, heartbeat monitoring, sleep duration, and others. The wireless connectivity medium is employed for the connection of these devices with computers or smartphones. The advancements in technologies and innovation are expected to boost market growth in the upcoming period. In September 2019, Apple unveiled the apple watch series 5, with many advanced features such as onboard tracking of GPS and heart rate with high accuracy.

The demand for the Fitness Tracker market is increasing on account of the rising trend of wearable technology amongst young youth, increase in awareness of health consciousness, rise in IoT trend, high preference in old age people. Moreover, the rising disposable income leads to high purchasing power which boosts the market growth. Nowadays, Gym-goers are more interested to know more about their physical progress, for instance, body fat percentage to sleep quality, apart from only simple information such as their weight. For Instance, in 2018, Apple remodeled and included an electrocardiogram (ECG) feature on the Apple Watch Series 4, which permits for a more thorough analysis of its users' heart health. The intersection of Wearable fitness technology with healthcare and digital technologies is projected to boost market growth.

However, some of the restraints in the market are Safety & Privacy Concerns and high costs.

Based on Type, the market is fragmented into Smartwatches, Fitness Bands, Smart Clothing, and Others. The Smartwatches segment dominated the market in 2020 and is expected to grow at lucrative during the forecasted period owing to increasing prevalence to track physical activities, and user-friendly usability. In addition, the constant development of fitness tacker products, in terms of functions and features, is further driving the market growth. Smartwatches not only provide high-end activity tracking features but also an interactive operating system for the user which fosters segment growth. Moreover, the high adoption of new technologies such as glucose and heartbeat monitoring, inspires the customers to adopt fitness trackers, which further propels the market growth.

Based on Distribution, the market is bifurcated into Online and Offline. The Online segment dominated the market in 2020 and is expected to grow at lucrative during the forecasted period. The increasing penetration of the internet and smartphones all over the world is driving the segment growth. In addition, the increasing popularity of e-commerce platforms owing to quick service and high convenience offered by them intensifies the market growth.

Based on Application, the market is bifurcated into Heart Rate Tracking, Sleep Monitoring, Glucose Monitoring, Sports, Running, and Cycling Tracking. The Running segment dominated the market in 2020 and is expected to grow at lucrative during the forecasted period owing to rising competition and consumer preference. Few Fitness tracker devices such as Nurvv run by Nurrv and Forerunner by Garmin are mainly designed for numerous sports applications, offering various features such as Hill Splitter, lap counter, and goal setting.

For a better understanding of the market adoption of Fitness Tracker, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America will dominate the Fitness Tracker market on account of the owing to the rising awareness and adoption of fitness trackers. Furthermore, the increasing incidents of health issues related to sedentary lifestyles, the growing penetration of smartphones and the internet, and the advent of innovative products by key market players in the North American region will drive the market growth. Some of the major players operating in the market include Adidas AG, Apple Inc., Fitbit Inc., Garmin Ltd, Google Inc, Jawbone Inc, LG Electronics Inc, Nike Inc, Pebble Technology Corp, and Qualcomm Inc. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.

Products


Companies

Adidas AG, Apple Inc., Fitbit Inc., Garmin Ltd, Google Inc, Jawbone Inc, LG Electronics Inc, Nike Inc, Pebble Technology Corp, and Qualcomm Inc.

Table of Contents

Table of Contents

1 MARKET INTRODUCTION

1.1. Market Definitions

1.2. Limitation

1.3. Stake Holders

1.4. Currency used in Report

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1. Research Process of the Fitness Tracker Market

2.2. Research Methodology of the Fitness Tracker Market

2.3. Forecasting Method

2.4. Respondent Profile

2.5. Main Objective of the Fitness Tracker Market Study

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL FITNESS TRACKER MARKET COVID-19 IMPACT

6 GLOBAL FITNESS TRACKER MARKET REVENUE (USD), 2019-2027F

7 MARKET INSIGHTS BY TYPE

7.1. Smartwatches

7.2. Fitness Bands

7.3. Smart Clothing

7.4. Others

8 MARKET INSIGHTS BY DISTRIBUTION

8.1. Online

8.2. Offline

9 MARKET INSIGHTS BY APPLICATION

9.1. Heart Rate Tracking

9.2. Sleep Monitoring

9.3. Glucose Monitoring

9.4. Sports

9.5. Running

9.6. Cycling Tracking

10 MARKET INSIGHTS BY REGION

10.1. North America Fitness Tracker Market

10.1.1. United States

10.1.2. Canada

10.1.3. Rest of North America

10.2. Europe Fitness Tracker Market

10.2.1. Germany

10.2.2. U.K.

10.2.3. France

10.2.4. Spain

10.2.5. Rest of Europe

10.3. Asia Pacific Fitness Tracker Market

10.3.1. China

10.3.2. Japan

10.3.3. India

10.3.4. Australia

10.3.5. Rest of Asia Pacific

10.4. Rest of World Fitness Tracker Market

11 FITNESS TRACKER MARKET DYNAMICS

11.1. Market Drivers

11.2. Market Challenges

11.3. Impact Analysis

12 FITNESS TRACKER MARKET OPPORTUNITIES

13 FITNESS TRACKER MARKET TRENDS

14 LEGAL & REGULATORY FRAMEWORK

15 DEMAND AND SUPPLY SIDE ANALYSIS

15.1. Demand Side Analysis

15.2. Supply Side Analysis

15.2.1. Top Product Launches

15.2.2. Top Business Partnerships

15.2.3. Top Business Expansions, Investments and Divestitures

15.2.4. Top Merger and Acquisitions

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

17.1. Competitive Landscape

17.1.1. Company Shares, By Revenue

18 COMPANY PROFILED

18.1. Adidas AG

18.2. Apple Inc.

18.3. Fitbit Inc.

18.4. Garmin Ltd.

18.5. Google Inc.

18.6. Jawbone Inc.

18.7. LG Electronics Inc.

18.8. Nike Inc.

18.9. Pebble Technology Corp.

18.10. Qualcomm Inc.

19 DISCLAIMER

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