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Fitness Tracker Market to Register a CAGR of 15.2% by 2027; Unveiling of Apple Watch Series 5 to Stimulate Growth

August 01, 2020 | Healthcare

The global fitness tracker market size is expected to reach USD 91.98 billion by 2027. The rising consumer awareness towards health and fitness will consequently aid the expansion of the market, mentioned in a report, titled Fitness Tracker Market Size, Share & COVID-19 Impact 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, Cycling Tracking), By Distribution Channel (Online, Retail, and Others), and Regional Forecast, 2020-2027” the market size stood at USD 30.41 billion in 2019 and is expected to exhibit a CAGR of 15.2% between 2020 and 2027.


Launch of XIAOMI’s MI Smart Band 5 to Incite Market Development


Xiaomi, a major leader in gadgets and advanced devices announced that it has introduced the latest Mi Smart Band 5 to its wearable product line. The new advanced Band offers a larger 1.1-inch AMOLED dynamic display compared to its predecessor. Moreover, the upgrades involve improved fitness tracking accuracy, women’s health tracking, stress assessment, remote shutter control, and more. The new Mi Smart Band 5 comes in 8 colorful straps and hundreds of themes. The battery on Mi Smart Band 5 supports up to 14 days* of continuous usage. In addition, to that, the device is compatible with both Android and iOS platforms, thus enabling a seamless user experience. The introduction of the new Mi Smart Band 5 is expected to have a positive effect on the market owing to its stunning 1.1-inch large AMOLED display with a 2.5D tempered glass panel for protection alongside maximum brightness of 450 nits and five adjustable brightness levels


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/fitness-tracker-market-103358


High Likeness for Physical Activities to Promote Growth


The rising alertness on an individual’s well-being and health will create lucrative opportunities for the market. These fitness trackers assist in tracking sleep patterns, measures heart-rate, sports activities, and others, thus leading to a healthy lifestyle. The surge in the fitness industry owing to the growing young population in countries such as India and China will influence the healthy growth of the market. The proclivity towards health clubs and gyms among millennials will have a stupendous impact on the market. Hectic lifestyles can cause stress, anxiety, and depression, hence leading to deteriorated health. The rising necessity for physical activities and healthy diet plans owing to the sedentary lifestyle will spur opportunities for the market in the foreseeable future.


Integration of Innovative Features in wearables to Augment Business


The global market is steered by the dominance of major companies offering dynamic products to the healthcare industry. The robust product portfolio of Apple makes it a top brand among other companies. The focus towards innovative products with enhanced features and functionalities by key players will maintain their market position in the industry. For instance, in September 2019, Apple launched its Apple watch series 5 with advanced features that include tracking of onboard heart rate and GPS. The wearable device helps to monitor several physical activities with high accuracy. Hence, the ongoing development of innovative products by companies will subsequently enable speedy expansion of the market.


The Report Lists the Main Companies in the Fitness Tracker Market:



  • Gramin Ltd (Kansas, United States)

  • Apple Inc (California, United States)

  • Fitbit, Inc. (California, United States)

  • Pebble Technology Corp (California, United States)

  • Samsung Electronics Co Ltd (Suwon-si, South Korea)

  • Google Inc. (California, United States)

  • Xiaomi Technology Co., Ltd. (Beijing, China)

  • Jawbone (California, United States)

  • Nike (Oregon, United States)

  • Other Players


Further Report Findings:



  • Regional Analysis: The market in Asia Pacific is predicted to witness a high growth rate during the forecast period. The growth in the region is attributed to the increasing acceptance of fitness devices among the young population. The vast majority of the young population in India will spur opportunities for the market in Asia Pacific.

  • Leading Segment: Running segment is expected to account for the largest share in the global market owing to the rising adoption of smart wearables among athletes. The growing awareness about speed and time tracking during running will further improve the growth of the segment.


The Fitness Tracker Market is Segmented into:


















































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Billion)



Segmentation



  Device Type; Application; Distribution Channel; and Geography



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 (U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

  • Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia- Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • The Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)


Global Fitness Tracker Market
  • PDF
  • 2019
  • 2016-2018
  • 133

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

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