Overview
The global fitness tracker market is expected to reach a valuation of USD 15.88 billion by the end of the forecast period from 2017 to 2023, according to the latest report from Market Research Future (MRFR). The market is expected to exhibit a strong 13.02% CAGR over the forecast period due to the growing influence of factors such as the growing popularity of fitness trackers and increasing product innovation in the field resulting in the development of a wide range of advanced monitors.
The growing popularity of fitness monitors among fitness-conscious consumers is likely to be the major driver for the global fitness tracker market over the forecast period. The growing preference for regular exercising among the urban population has driven the demand for fitness trackers, as they allow the consumers to keep track of their workouts in a simple format. The need to maximize the productivity has also been a key factor for the growing demand for fitness monitors among urban consumers, as the comprehensive coverage provided by fitness monitors has made them a vital tool for urban users looking to get the most out of their exercising habits.
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The rising use of mobile apps for fitness tracking is also likely to drive the global fitness tracker market over the forecast period, as it makes it easier for the users to track their exercises and the benefits garnered from the same. The increased functionality provided by the app platform is likely to be a major driver for the global fitness tracker market over the forecast period.
The global fitness tracker market has become extremely competitive in the last few years due to the growing popularity of fitness trackers and the increasing efforts being taken by manufacturers to keep up with the global product standards and innovate new features that can help them get an edge over their competitors. Increasing product development efforts from manufacturers are likely to be a key driver for the global fitness tracker market over the forecast period.
Competitive Analysis:
Leading players in the global fitness tracker market include Apple Inc., Samsung, Fitbit, Garmin, Jawbone, Suunto, Casio, Nike, Polar, Adidas, Xiaomi, Misfit Wearable Inc., and Nokia, among others.
In March 2019, Fitbit launched a new line of products to replace its Alta and Alta HR trackers, called Inspire and Inspire HR. The new products are sold as fitness bands. New product development is likely to be a key tactic for major players in the global fitness tracker market over the forecast period.
Segmentation:
The global Fitness Tracker Market is segmented on the basis of age group, product type, wearing type, sales channel, application, end user, and region.
On the basis of age group, the global fitness tracker market is bifurcated into adult fitness tracker and children’s fitness tracker. Adult fitness trackers are likely to remain the majority revenue generator over the forecast period due to the higher motivation and spending capacity among adults to track their fitness in tangible terms.
Based on product type, the fitness tracker market is segmented into activity monitors, smart watches, and smart clothing.
By wearing type, the fitness tracker market is segmented into handwear, legwear, headwear, and others such as torsowear, clothwear, etc.
By sales channel, the market is segmented into online sales and retail sales.
By application, the fitness tracker market includes heart rate tracking, sleep measurement tracking, glucose measurement tracking, sports, running, and cycling tracking.
Sports, hospitals and diagnosis centers, and others are the key end users in the fitness tracker market.
Regional Analysis:
North America is likely to remain the major revenue generator over the forecast period due to the growing demand for advanced fitness monitoring among the region’s youth demographic. Growing adoption of advanced technology in North America is also likely to be a key driver for the fitness tracker market in the region over the forecast period. Growing product awareness and increasing disposable income of consumers could lead to steady growth of the fitness tracker market in Asia Pacific over the forecast period.
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TABLE OF CONTENTS
1 MARKET INTRODUCTION
1.1 INTRODUCTION
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.2.2 ASSUMPTIONS
1.2.3 LIMITATIONS
1.3 MARKET STRUCTURE
2 RESEARCH METHODOLOGY
2.1 RESEARCH NETWORK TECHNOLOGY SOFTWARE
2.2 PRIMARY RESEARCH
2.3 SECONDARY RESEARCH
2.4 FORECAST MODEL
2.4.1 MARKET DATA COLLECTION, ANALYSIS & FORECAST
2.4.2 MARKET SIZE ESTIMATION
3 MARKET DYNAMICS
Continued…….
LIST OF TABLES
TABLE 1 FITNESS TRACKER MARKET, BY AGE GROUP
TABLE 2 FITNESS TRACKER MARKET, BY PRODUCT TYPE
TABLE 3 FITNESS TRACKER MARKET, BY WEARING TYPE
TABLE 4 FITNESS TRACKER MARKET, BY SALES CHANNEL
TABLE 5 FITNESS TRACKER MARKET, BY APPLICATION
Continued…….
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LIST OF FIGURES
FIGURE 1 RESEARCH METHODOLOGY
FIGURE 2 FITNESS TRACKER MARKET, BY AGE GROUP (%)
FIGURE 3 FITNESS TRACKER MARKET, BY PRODUCT TYPE (%)
FIGURE 4 FITNESS TRACKER MARKET, BY WEARING TYPE (%)
FIGURE 5 FITNESS TRACKER MARKET, BY SALES CHANNEL (%)
Continued……
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