Global Wearable Fitness Trackers Market – Industry Trends and Forecast to 2029

Wearable Fitness Trackers Market Analysis and Size

A fitness tracker is a gadget that monitors your rotation, movement, and position using sensors. The gadget gathers information and transforms it into steps, calories burned, sleep quality, and the overall amount of activity during the day. Some trackers also have a "altimeter" sensor, which measures your altitude. It's simple for a fitness tracker to determine whether you're spinning or running.

Data Bridge Market Research analyses that the wearable fitness trackers market which was USD 44.7 billion in 2021, would rocket up to USD 162.41 billion by 2029, and is expected to undergo a CAGR of 17.50% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Wearable Fitness Trackers Market Scope and Segmentation      

Market Definition

A wearable fitness tracker is a tool that the user wears to monitor various bodily parameters throughout the day. The user must enter physiological information such as their height, weight, and gender, to enable the tracker to use the collected data in a better sense. Several sensors can be added to the wearable fitness tracker, however motion sensors are typically utilised extensively to assess body movements.

Global Wearable Fitness Trackers Market Dynamics

Drivers

• Rising usage of wearable fitness trackers in diagnosis center

Wearable fitness trackers are used in monitoring the number of steps that a person walks, monitoring the quality of sleep of the individual and checking the heart rate of the individual. With technological advancements, many fitness trackers on the market can monitor all three of these parameters and provide valuable insight into the wearer's health. These are the factors which will propel the growth of the market.

• Rising usage of wearable fitness trackers in hospitals

Wearable fitness trackers used in hospitals due to monitoring the number of steps that a person walks, checking the heart rate of the individual, monitoring the quality of sleep of the individual. Electronics that individuals may wear, such as fitbits and smartwatches, are referred to as wearable devices in the healthcare industry. These are made to gather user personal health information. Since they are in such great demand and their market is expanding, healthcare app developers are trying to figure out how to give users the best wearable fitness technologies.

Opportunities

• Technical advancements

The wearable fitness trackers market's growth is fuelled during the forecast period as a result of modernization and technical advancements. For instance hip (Fitbug) or wrist-based (Fitbit, Jawbone, among others have been incorporated into the banner of ‘wearables’. This will provide beneficial opportunities for the wearable fitness trackers market growth.

Restraints/Challenges

• High cost of the devices

On the other hand, continuous change in technology and high cost of the devices will obstruct the market's growth rate.

This wearable fitness trackers market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the wearable fitness trackers market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on the Wearable Fitness Trackers market

The COVID-19 outbreak had a significant impact on the electronics and semiconductor industries. This market's influence is growing by the day, and it is affecting global business. The crisis is causing a stock market crash, a drop in business confidence, a massive slowing of the supply chain, and an increase in customer panic. The overall production process has suffered, but the surge of healthcare products is expected to boost market growth.

Global Wearable Fitness Trackers Market Scope

The wearable fitness trackers market is segmented on the basis of product type, category, component, application, sales channel and end-users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Wrist Wear
• Leg Wear
• Smart Garments
• Others

 Category

• Handwear
• Torsowear
• Legwear
• Headwear

 Component

• Display
• Processor
• Memory
• Power
• Networking
• Interface
• Sensor

Application

• Heart Rate Tracking
• Sleep Measurement Tracking
• Glucose Measurement Tracking
• Sports
• Running
• Cycling Tracking

 Sales Channel

• Online Sales
• Retail Sales

End-Users

• Hospitals
• Diagnosis Center
• Others

Wearable Fitness Trackers Market Regional Analysis/Insights

The wearable fitness trackers market is analysed and market size insights and trends are provided by country, product type, category, component, application, sales channel and end-users as referenced above.

The countries covered in the wearable fitness trackers 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.

North America dominates the wearable fitness trackers market due to consumer awareness of cutting-edge medical fitness products, high per capita income, the existence of major market participants, and strong purchasing power, the industry has a substantial revenue.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the factors including rising disposable income, increased interest in leading healthy lifestyles, and accessibility to reasonably priced fitness equipments will all contribute to the region's quick revenue growth.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure Growth Installed base and New Technology Penetration

The wearable fitness trackers market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for wearable fitness trackers market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the wearable fitness trackers market. The data is available for historic period 2010-2020.

Competitive Landscape and Wearable Fitness Trackers Market Share Analysis

The wearable fitness trackers market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to wearable fitness trackers market.

Some of the major players operating in the wearable fitness trackers 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)
• Abbott (U.S.)
• Apple Inc. (U.S)
• Virtual-Realties, LLC (U.K.)
• Google LLC (U.S.)
• adidas India Marketing Pvt. Ltd (Germany)
• Xiaomi (China)

SKU-55512