Young people are actively participating in more sports-related activities, which helps to improve health indicators and speed up market growth. Additionally, athletics has gained acceptance as a practical way to keep in shape and guard against lifestyle disorders as health issues have become more widely recognized. These tools can withstand the user's physical activity during training and guard against overtraining. The market growth is being significantly boosted by all of these factors.
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Data Bridge Market Research analyses that the Wearable Devices in the Sports Market were USD 90.73 billion in 2022, would rise to USD 249.88 billion by 2030, and is expected to undergo a CAGR of 13.5% during the forecast period 2023 to 2030. There is a growing emphasis on fitness and active lifestyles among individuals worldwide. Wearable devices offer real-time tracking of various metrics such as heart rate, steps taken, calories burned, and sleep patterns, which help users monitor their fitness levels and stay motivated.
Key Findings of the Study
Integration with IoT and data analytics is expected to drive the market's growth rate
Integration with the Internet of Things (IoT) enables wearable devices in sports to connect with other devices and platforms, facilitating the exchange of data. This connectivity allows for comprehensive data analysis, where performance metrics are analyzed to identify trends and patterns. With this information, personalized training recommendations can be generated, tailoring training programs to individual athletes' specific needs, optimizing performance, and improving overall training outcomes.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Component (Hardware, Software), Product Type (Pedometers, Fitness, and Heart Rate Monitors, Smart Fabrics, Smart Camera, Shot Trackers Others), Site (Headband, Handheld, Arm and Wrist, Clip, Shoe Sensor, Others), Application (Step Counts, Calorie Burnt, Heart Rate Monitoring, Sleep Tracking, Others), End User (Sports Centers, Fitness Centers, Homecare Settings, Others), Distribution Channel (Independent Retail Store, Hypermarket/Supermarket, Brand Store, Online Sale Channel)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Apple Inc. (U.S.), Huawei Technologies Co., Ltd. (China), Fitbit Inc. (U.K.), Nike, Inc. (U.S.), Under Armour, Inc (U.S.), Koninklijke Philips N.V. (Netherlands), Zepp Health Corporation (China), StretchSense (U.S.), Catapult (U.S.), Withings (France), Guangdong Transtek Medical Electronics Co., Ltd (China), Abbott (U.S.), Medtronic (Ireland), Apple Inc. (U.S.), Virtual-Realties, LLC (U.K.), Google LLC (U.S.), Xiaomi (China), Sony Corporation (Japan), Garmin Ltd. (U.S.), Honeywell International Inc. (U.S.), LG Electronics (South Korea)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The wearable devices in sports market are segmented on the basis of component, product type, site, application, end user, and distribution channel.
- On the basis of components, the global wearable devices in sports market are segmented into hardware and software. The software segment is dominating the global wearable devices in sports market with a market share of 65.0% in the forecast period of 2023-2030 due to the widespread use of advanced artificial intelligence and its practicality
The software segment is dominating the component segment of the global wearable devices in sports market
The software segment is dominating the global wearable devices in sports market owing to its inclusive application and suitable nature of progressive artificial intelligence incorporation with the market share of 65.0% in the forecast period of 2023-2030.
- On the basis of product type, the global wearable devices in the sports market is segmented into pedometers, fitness and heart rate monitoring, smart fabrics, smart camera, shot tracker, and others. The Pedometers segment is dominating the global wearable devices in sports market with a CAGR of 17.3% in the forecast period of 2023-2030 due to encouraging athletes to train independently by monitoring their exercise schedules
- On the basis of the site, the global wearable devices in sports market are segmented into headband, handheld, arm and wrist, clip, shoe sensor, and others. Handheld, arm, and wrist segment is dominating the global wearable devices in sports market with a CAGR of 20.1% in the forecast period of 2023-2030 due to most trainers' vitals can be tracked more conveniently with watches.
- On the basis of application, the global wearable devices in sports market are segmented into step counts, calorie burnt, heart rate monitoring, sleep tracking, and others. Step counts segment is dominating the global wearable devices in the sports market with a market share of 38.4% in the forecast period of 2023-2030 due to tracking watches being used for jogging and morning walks.
- On the basis of end user, the global wearable devices in sports market is segmented into sports centers, fitness centers, homecare settings, and others. The sports centers segment is dominating the global wearable devices in sports market with a market share of 59.1% in the forecast period of 2023-2030 due to every sport player intending to track their fitness routines to maintain records.
- On the basis of distribution channel, the global wearable devices in sports market is segmented into independent retail store, hypermarket/ supermarket, brand store and online sale channel. The Independent retail store segment is dominating the global wearable devices in sports market with a market share of 53.5% in the forecast period of 2023-2030 due to easy availability for various consumers.
The Independent retail store segment is dominating the distribution segment of global wearable devices in the sports market
The Independent retail store segment is dominating the global wearable devices in the sports market owing to small-scale, privately-owned businesses that offer a variety of products to local customers. They often specialize in specific niches and cater to the needs of the local community with a market share of 53.5% in the forecast period of 2023-2030.
Major Players
Data Bridge Market Research recognizes the following companies as the major wearable devices in sports market players in wearable devices in sports market are Apple Inc. (U.S.), Huawei Technologies Co., Ltd. (China), Fitbit Inc. (U.K.), Nike, Inc. (U.S.), Under Armour, Inc (U.S.), Koninklijke Philips N.V. (Netherlands), Zepp Health Corporation (China), StretchSense (U.S.), Catapult (U.S.), Withings (France)
Market Development
- In 2022 - The pitching-focused company KineticPro Performance, established by former professional pitcher Casey Mulholland, has partnered with Nextiles, a maker of smart fabric technology. Real-time biomechanical analysis of the arm would be provided by the KineticPro Sleeve using thread-based sensors that have been carefully positioned directly over the elbow. The elbow force and arm torque could be measured because of the mechanical changes caused by bending, stretching, and twisting the fabric using Nextiles' sensors.
- In 2022 - To address the performance data requirements of athletes and sports enthusiasts, Mojo Vision has been developing several strategic partnerships with fitness businesses. Adidas Running (running/training), Trailforks (cycling, hiking/outdoors), Wearable X (yoga), Slopes (snow sports), and 18Birdies would be among the company's original partners. Mojo Vision would investigate further smart contact lens interfaces and experiences to comprehend and enhance data distribution of data for athletes of various skill levels.
- In 2022 - Realtrack, a Spanish maker of sports wearable technology, has been acquired by Agile Sports Technologies, Inc.'s Hudl. The WIMU PRO system, Realytrack's flagship athlete monitoring tool, measures athletes' workload, intensity, healing, and recovery during practices and games. With the help of this acquisition, Hudl can join the wearable and player monitoring market.
- In 2022, the industry of human performance In order to improve student-athlete wellness, WHOOP and Penn State Intercollegiate Athletics collaborated to use WHOOP wearable technology and personalized health insights.
- In 2021, Bio-Beat partnered with Amwell, which delivers telehealth solutions for more than 2,000 hospitals covering over 80 million lives. The motive of this partnership was to improve Bio-Beat’s AI powered wearable remote monitoring products with virtual care, thereby further enhancing their products for more reach
- In 2021, Apple, Inc. previewed its newest retail location at the historic Tower Theatre in downtown Los Angeles. One of Apple’s most significant restoration projects to date, Apple Tower Theatre aims to inspire even more creativity in the heart of downtown. A
- In 2021, Fitbit declared Fitbit Luxe, a fashion-forward fitness and wellness tracker designed to help one take a more holistic approach towards health and wellness. The company made major technological advancements with Luxe, creating a smaller, slimmer, beautifully designed tracker packed with advanced features, some that were previously only available with smartwatches, making these tools accessible to even more people around the globe.
Regional Analysis
Geographically, the countries covered in the wearable devices in sports market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is expected to dominate the region in wearable devices in the sports market during the forecast period 2023-2030
North America is poised to dominate wearable devices in the sports market due to the high adoption rate among professional athletes. The region experiences a significant number of sports injuries, driving the demand for wearable devices for injury prevention and rehabilitation. Additionally, the presence of advanced research facilities and increasing research activities in sports technology contribute to the market's growth, as companies focus on developing innovative solutions to cater to the specific needs of athletes in North America.
Asia-Pacific is estimated to be the fastest-growing region in wearable devices in the sports market in the forecast period 2023-2030
Asia-Pacific is anticipated to experience substantial growth in wearable devices in the sports market due to several factors. The lower costs of smartphones in the region make them more accessible to a larger population, increasing the potential market size. Manufacturers can leverage the growing demand from diverse customer groups to achieve economies of scale, leading to improved production volumes and cost efficiencies. This allows manufacturers to decrease product prices, further driving market growth in Asia-Pacific.
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