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Fitness Tracker Market Size, Share & Industry Analysis, By Device Type (Smart Watches, Fitness Bands, Smart Glasses, Smart Clothing, and Others), By Application (Heart Rate Tracking, Sleep Measurement, Glucose Measurement, Sports, Running, and Cycling Tracking), By Distribution Channel (Online, Retail, and Others), and Regional Forecast, 2024-2032

Last Updated: May 06, 2024 | Format: PDF | Report ID: FBI103358



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The global fitness tracker market size was valued at USD 53.94 billion in 2023 and is projected to grow from USD 62.03 billion in 2024 to USD 290.85 billion by 2032, exhibiting a CAGR of 21.3% during the forecast period (2024-2032). Fitness trackers have become extremely popular and feasible among the general population. These devices are used to track and monitor physical and fitness activities, such as steps covered, calories burned and consumed, heart rate, distance covered, sleep duration, and breathing. Tracking devices are wirelessly synced with a computer or a smartphone and can be used anywhere by anyone to monitor fitness and health-related parameters.

  • For Instance, according to the Pew Research Center statistics, in January 2020, one in five Americans regularly use a fitness monitoring device. Thus creating a high demand for fitness monitoring devices.

Though the integration of consumer-based wearable technologies into health research is still new, the field is progressing rapidly. Several wearable devices are paving their way into clinical settings and are used to offer real-time monitoring data to integrate into wellness programs. For example, Geisinger Orthopedic Institute initiated a research program with the help of wearable devices to collect patient data in real time to monitor and track their activities along with personal data collection. The data collected can help doctors or helpers to research, understand, and analyze what practices should be adopted to offer quick recovery, improve decision-making, and obtain desired health outcomes. The global market is currently growing at a substantial rate due to an increase in these trackers' adoption among young people. Furthermore, rising disposable income and increasing expenditure on wearable technology are factors likely to foster market growth.

Furthermore, sales of fitness monitoring devices marked a positive impact owing to the rise in COVID-19 cases. COVID-19 increased awareness regarding health, thus increasing sales of fitness monitoring products.

  • According to RunRepeat research statistics published in October 2021, in 2020, more than 445.0 million wearable fitness devices were shipped to consumers, with tracker revenue growing more than 31.0% during the COVID-19 pandemic.

Fitness Tracker Market Trends 

Rising Technological Advancements in Fitness Monitoring Devices

Wearable devices represent one of the popular trends in health and fitness. Advanced technologies are powerful tools for health and fitness and have become essential for athletes. Several developments by market players, such as new product launches, are revolutionizing the fitness industry.

  • In January 2024, Samsung announced the launch of electrocardiogram (ECG) and blood pressure tracking features for the Galaxy Watch6 series in India. These features are available through the Samsung Health Monitor App, which allows users to monitor their health, facilitate regular health checkups, and support fitness routines.

Furthermore, the sports industry is actively adopting wearable devices for their needs, including preventing injury, tracking athlete health, and improving athletic performance. In addition, these technologies help in making informed decisions, refining strategies, and tailoring training programs, which will further advance the accuracy and depth of performance tracking. Thus, these factors will revolutionize the sports industry in the coming years.

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Fitness Tracker Market Growth Factors

Growing Awareness Related to Health and Fitness to Fuel Demand for Fitness Monitoring Products

The fitness industry has witnessed upward growth as people are becoming more aware of their health and have started prioritizing their fitness. People are adopting healthy lifestyles by indulging themselves in physical activities and sports. This is further augmented by the introduction of several fitness apps and smart wearables. These advanced devices provide customized workouts and diet plans, making it a lot easier to monitor their everyday activities. Thus, several potential benefits offered by these technologies are driving the demand for these devices.

  • According to a study article published by ValuePenguin in April 2022, more than 9 in 10 (92%) smartwatch wearers use wearable devices for health or fitness monitoring, and 88% of them stated that it helped them achieve a fitness goal.

Furthermore, market players are now concentrating on introducing fitness trackers and wearable devices focusing specifically on women’s health. The growing awareness regarding well-being and women’s health and the introduction of new devices and apps are supporting their rising adoption in the market.  

  • For instance, in February 2021, Ava, a digital healthcare company focusing on women’s reproductive health, received FDA authorization for its Ava Fertility Tracker. The tracker helps women to track their fertility, menstrual cycles, pregnancy, and overall health.

Increasing Prevalence of Health Disorders to Propel Market Growth

Chronic diseases, such as diabetes, hypertension, heart disease, mental illness, and chronic obstructive pulmonary disease, have a huge impact on public health. According to the data published by The Centers for Disease Control and Prevention (CDC) in 2023, 6 in 10 adults in the U.S. have chronic diseases, and 4 in 10 adults have two or more chronic diseases.

  • Furthermore, according to the data published by the International Diabetes Federation (IDF) in 2024, more than half a billion people living with diabetes are found in low and middle-income countries (LMICs). This number is projected to reach 783.0 million by 2045, with 233.0 million cases reported from LMICs.

Wearable technologies are an essential tool for chronic disease management. They assist physicians in tracking patient health and enable them to decide on several methods to improve the condition through real-time monitoring, action cues, feedback, and goal setting. Thus, increasing cases of chronic diseases and rising awareness regarding the potential benefits of fitness-tracking devices among the population further boost demand for them.


Data Safety and Privacy Concerns to Limit the Market Growth

The data collected by fitness monitoring devices is mainly personal, entailing the user's information, which includes weight, birth date, photos, GPS coordinates, or social data, heart rate, steps, and background data used by the device. Besides the highly personal data, the primary concern is data theft. Thus, leaving the person open to privacy destructions that may cause them harm. Though, fitness tracker users are likely uninformed of the privacy implications of how the data could be misused when collected over time or when linked with other information.

The emerging usage patterns exposed troops' locations and habits using their fitness app at secret military bases in Afghanistan, Iraq, and Syria. The same year, hackers gained unapproved access to data, penetrating fitness monitoring devices accounts of 150 million MyFitnessPal users. Thus, the aforementioned security reasons are likely to hamper the market growth.

Fitness Tracker Market Segmentation Analysis

By Device Type Analysis

Increasing Launch of Advanced Smart Watches by Key Players Propelled the Smartwatches Segment Growth

Based on device type, the market includes smartwatches, fitness bands, smart glasses, smart clothing, and others.

The smartwatches segment dominated the market in 2023. The dominance was attributed to the product launches by major players across developing countries. Moreover, the smartwatches segment is experiencing a rise as it includes high-end activity tracking features and interactive operating systems, which foster the demand for these devices.

  • In September 2023, Nervfit, a fitness-focused brand from Bluemorph Brands Pvt. Ltd., entered the electronics landscape by launching smartwatches and earphones. The device will help monitor, track, and achieve everyday health targets.

The fitness bands segment held a considerable market share in 2023 owing to their user-friendly usability, low cost, and rising incidence of tracking physical activities among athletes.

  • According to an article published by Ars Technica in March 2023, the average cost of a new featured fitness band costs around USD 100.

Smart glasses and smart clothing segments show a significant CAGR during the forecast period. The segment is gaining traction due to its advancing features. Sensors used in the fabric monitor heartbeats, pulse rate, and other fitness and medical metrics. The market is growing due to the adoption of new technologies, such as glucose monitoring, inspiring customers to adopt wearable devices. This creates a massive demand for these products and propels the market growth.

By Application Analysis

Rising Awareness of Fitness Trackers Among Athletes Propelled the Running Segment Growth

Based on the application, the market is segmented into heart rate tracking, sleep measurement, glucose measurement, sports, running, and cycling tracks. The running segment dominated the market in 2022, followed by the sports segment.  The growth is attributable to rising awareness about trackers in running activities, and their growing adoption by athletes is also driving the overall market growth.

  • According to statistics published by RunRepeat in October 2021, 40.0% of the global population used fitness trackers for running activity.

The sports segment is expected to grow at a considerable CAGR during 2023-2030. The growth is due to the rising demand for these trackers for sports activities among adults and the rising emphasis on the production and launch of sports-specific fitness trackers by leading players across the globe.

  • In June 2022, Xiaomi launched its latest fitness tracker, Xiaomi Band 7, in the global market. The fitness band sports an AMOLED display and comes with more than 100 sports modes.

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The heart rate tracking segment is showing a significant demand owing to growing cardiovascular disease due to changing lifestyles. On the other hand, the sleep and glucose measurement segment is expected to witness a considerable CAGR during the forecast period.

By Distribution Channel Analysis

Increasing Distribution of Fitness Trackers Online Across the Globe Drive Online Channels Segment Growth

By distribution channels, the market is segmented into online, retail, and others. The online segment is expected to have a dominant market share during the forecast period. The dominance is due to increasing internet penetration, and the easy availability of these apps on smartphones is propelling the online distribution channel for the global market.

  • As per a Counterpoint Research report in April 2022, India's smartwatch market was mostly online-driven. Almost 78.0% of smartwatch shipments came from online channels in India.

Retail and other channels are projected to witness considerable growth during the forecast period owing to customers' easy access to these stores. Moreover, physical stores offer enhanced customer service and product clarity compared to virtual stores, leading to the preference shift toward retail stores.


North America Fitness Tracker Market Size, 2023 (USD Billion)

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The global market size in North America stood at USD 25.54 billion in 2023. This region's dominance is attributable to the growing concern towards health issues coupled with rising chronic diseases among the population of North America.

  • According to an article published by the American Lung Association in April 2023, about 12.5 million U.S. population suffer from Chronic Obstructive Pulmonary Disease (COPD).

Europe stood at the second-largest position in terms of revenue. Increasing technology adoption, an upsurge in acceptance toward smart gadgets, and several benefits of fitness monitoring devices are likely to propel the demand for fitness monitoring products. Hence, creating vast opportunities for fitness monitoring devices in the region.

  • According to the business desk data in 2022, more than a quarter of the U.K. adult population owns an exercise tracker, with one-third wearing their device daily.

The market in Asia Pacific is expected to exhibit healthy growth owing to the adoption trend of tracking devices among the young generation. Japan, China, and India are the key market regions and are projected to have the largest market growth. India has 60% of young people below 35 years. Thus, it offers favorable backgrounds for the market to grow.

Latin America and the Middle East & Africa hold the least share in the market due to the lesser adoption rate of fitness products and poor economies.

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List of Key Companies in Fitness Tracker Market

Advancing Features and Functionality of Innovative Products of Key Players to Propel Market Growth

The global market has been segmented into large, medium, and small industries, providing dynamic products in the healthcare industry. Among this cluster, Apple Inc. tops the market, having a robust product portfolio for the fitness industry. Companies are now aiming to offer advanced innovative products that include novel features and functionalities and grow their sales channels globally.

  • For instance, in May 2023, Apple Inc. announced a new Artificial Intelligence (AI) powered health coaching service named Quartz. This Apple’s AI-powered healthcare app will be featured in the upcoming Apple Watch and iPhone models, providing new momentum in the health and wellness market.

Moreover, other significant players, such as Samsung Electronics Co. Ltd, Huawei Technologies Co., Ltd., and Xiaomi Technology Co., Ltd., emphasize strategic collaborations with major players to introduce advanced devices globally, further propelling their market share.

  • In June 2021, Samsung Electronics Co., Ltd. introduced its One UI Watch user experience at the Mobile World Congress (MWC) with a new unified platform built in collaboration with Google LLC.

Therefore, advancing technologies and innovations in the market are anticipated to boost the key player’s revenue during the forecast period.



  • February 2024: Amazfit, a smart wearable brand owned by Zepp Health, a health technology company, introduced the Amazfit Active Smartwatch. The device provides a readiness score, which derives data from stress, heart rate, sleep, respiration, temperature, and HRV. By considering both mental and physical recovery, the score provides personalized suggestions, contributing to overall well-being.

  • September 2023 – Google launched the next-generation fitness wearable utilizing machine learning and AI, Fitbit Charge 6. The device is equipped with the latest features, such as a more precise heart rate tracker and new exercise models.

  • April 2023: Proximie launched PxLens, a smart glasses solution that can be easily paired with the Proximie mobile app. It can also be integrated with Proximie’s cloud platform for telepresence.

  • January 2023: Garmin Ltd. launched the ECG App1, an FDA-cleared app for the Venu 2 Plus smartwatch. It helped users record their heart rhythm and frequently check for signs of atrial fibrillation (AFib).

  • January 2022: Fitbit, Inc., an American consumer electronics and fitness company, was acquired by Google LLC, an American multinational company that is focused on artificial intelligence, online advertising, search engine technology, and others.


The market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading product applications. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses major factors that have contributed to the market's growth in recent years.

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Report Scope & Segmentation



Study Period


Base Year


Estimated Year


Forecast Period


Historical Period


Growth Rate

CAGR of 21.3% from 2024-2032


Value (USD billion)


By Device Type

  • Smart Watches

  • Fitness Band

  • Smart Glasses

  • Smart Clothing

  • Others

By Application

  • Heart Rate Tracking

  • Sleep Measurement

  • Glucose Measurement

  • Sports

  • Running

  • Cycling Tracking

By Distribution Channel

  • Online 

  • Retail

  • Others

By Geography

  • North America (By Device Type, Application, Distribution Channel, and Country)

    • U.S. (By Device Type)

    • Canada (By Device Type)

  • Europe (By Device Type, Application, Distribution Channel, and Country)

    • U.K. (By Device Type)

    • Germany (By Device Type)

    • France (By Device Type)

    • Italy (By Device Type)

    • Spain (By Device Type)

    • Scandinavia (By Device Type)

    • Rest of Europe (By Device Type)

  • Asia Pacific (By Device Type, Application, Distribution Channel. and Country)

    • Japan (By Device Type)

    • China (By Device Type)

    • India (By Device Type)

    • Australia (By Device Type)

    • Southeast Asia (By Device Type)

    • Rest of Asia Pacific (By Device Type)

  • Latin America (By Device Type, Application, Distribution Channel, and Country)

    • Brazil (By Device Type)

    • Mexico (By Device Type)

    • Rest of Latin America (By Device Type)

  • The Middle East & Africa (By Device Type, Application, Distribution Channel, and Country)

    • GCC (By Device Type)

    • South Africa (By Device Type)

    • Rest of MEA (By Device Type)


Jignesh Rawal ( Assistant Manager -Healthcare )

Jignesh is a skilled practitioner with over 8 years of extensive experience in market analysis an...Read More...

Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 53.94 billion in 2023 and is expected to reach USD 290.85 billion by 2032.

In 2023, the North America market value stood at USD 25.54 billion.

The market is expected to grow at a CAGR of 21.3% during the forecast period (2024-2032).

The fitness band is expected to be the leading segment in this market during the forecast period.

The growing adoption of advanced technologies, changing lifestyles, and rising disposable incomes are the factors driving the growth of the market.

Apple Inc., Fitbit Inc., Garmin Ltd., and Xiaomi are some of the global market players.

North America dominated the market share in 2023.

Growing awareness related to health and fitness is expected to drive the adoption of fitness monitoring devices globally.

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