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Fitness Tracker Market Size, Analysis, Share & Forecast 2031
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Fitness Tracker Market Size, Analysis, Share & Forecast 2031

Segments - Global Fitness Tracker Market by Types (Smart Watches, Fitness Bands, Smart Clothing, and Others), Applications (Heart Rate Tracking, Sleep Monitoring, Glucose Monitoring, Sports, Running, Cycling Tracking, and Others), Distribution Channels (Online and Offline), and Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa), Forecast 2023 – 2031

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Author : Debadatta Patel
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Fact-checked by : PARTHA PAUL
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Editor : Shruti Bhat

Upcoming | Report ID :CG-3473 | 4.7 Rating | 76 Reviews | 199 Pages | Format : PDF Excel PPT

Report Description


The global fitness tracker market was USD 48.83 Billion in 2022 and is likely to reach USD 230.16 Billion by 2031, expanding at a CAGR of 18.8% during 2023–2031. Fitness trackers are used to measure step count and monitor heart, glucose level, and sleep. It is usually worn by fitness enthusiasts and athletes. Various industry players are launching their product line with the integration of advanced technologies, catering to the requirement of the consumers.

Fitness Tracker Market Outlook

  • Expanding health and fitness consciousness, high Internet and smartphone penetration, and rising consumer disposable income level are major factors contributing to the market.

  • The Covid-19 pandemic has raised awareness of these devices dramatically, positively influencing the market growth.

  • The development of other forms of wearables, such as smart jewelry, insoles, and apparel, is attracting a number of customers.

  • Intensive competition in the market can obstruct penetration of new players in the market.

  • The adoption of latest technologies is estimated to create lucrative opportunities for the market.

  • Rapid growth of the e-commerce industry, a robust distributor network, and retail collaborations of market participants, which enable the availability of the latest items around the world, are some of the factors spurring the fitness tracker market during the forecast period.

Scope of Fitness Tracker Market Report

The report on the global fitness tracker market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Global Fitness Tracker Market - Industry Analysis, Size, Share, Growth, Trends And Forecast

Base Year

2022

Historic Data

2016 & 2021

Forecast Period

2023–2031

Segmentation

Types (Smart Watches, Fitness Bands, Smart Clothing, and Others), Applications (Heart Rate Tracking, Sleep Monitoring, Glucose Monitoring, Sports, Running, Cycling Tracking, and Others), Distribution Channels (Online and Offline)

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Key Players Covered in the Report

Apple, Inc., Fitbit, Inc., Garmin Ltd., Beienda, and Ambiotex GmbH.

Fitness Tracker Market Segment Insights

Smart watches segment to dominate the market

Based on types, the market can be segregated into smart watches, fitness bands, smart clothing, and others. The smart watches segment dominated the market in 2020, accounting for more than 45% of the market share revenue. Constant product improvements in terms of features and functions is expected to propel the segment growth in the coming years. The integration of features such as stress and sleep monitoring in smart watches is spurring the segment growth.

Fitness Tracker Market Types

Glucose monitoring segment to expand at a high CAGR

On the basis of applications, the fitness trackers market can be divided into heart rate tracking, sleep monitoring, glucose monitoring, sports, running, cycling tracking, and others.  In 2020, the running segment held a revenue share of more than 22% due to increased consumer preference. On the other hand, the sports segment is anticipated to expand at a sustainable rate in the coming years.  However, the glucose monitoring segment is projected to expand at a high CAGR due to rising prevalence of diabetes and awareness of glucose monitoring systems.

Fitness Tracker Market Application

Online segment to expand at a robust pace

In terms of distribution channels, the market can be bifurcated into online and offline. The online segment led the global market in 2020, accounting for more than 60% of the market share. Increasing use of smartphones and rising penetration of Internet, as well as the rising preference for e-commerce platforms due to high convenience and quick services.

The market in Asia Pacific is expected to grow at a robust pace

Based on regions, the market can be segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for more than 40% of the market share due to rising cases of sedentary lifestyle-related health conditions, the introduction of novel products by leading market players, and the growing adoption of smartphones. The market in Asia Pacific is anticipated to exhibit a high CAGR during the forecast period due to increasing adoption of fitness trackers and increased awareness of general health and fitness among the working-class population.

Segments

Types

  • Smart Watches
  • Fitness Bands
  • Smart Clothing
  • Others

Applications

  • Heart Rate Tracking
  • Sleep Monitoring
  • Glucose Monitoring
  • Sports, Running
  • Cycling Tracking
  • Others

Distribution Channels

  • Online
  • Offline

Regions

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Key Players

Competitive Landscape

Industry competition is fierce due to rapidly changing technology and developments by main market participants. Market competitors are concentrating their efforts on research and development in order to deliver more efficient products to meet the growing demand among consumers. Key players of the market are Apple, Inc., Fitbit, Inc., Garmin Ltd., Beienda, and Ambiotex GmbH.

Fitness Tracker Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Fitness Tracker Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Fitness Tracker Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Fitness Tracker Market - Supply Chain
  4.5. Global Fitness Tracker Market Forecast
     4.5.1. Fitness Tracker Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Fitness Tracker Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Fitness Tracker Market Absolute $ Opportunity
5. Global Fitness Tracker Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Fitness Tracker Market Size and Volume Forecast by Types
     5.3.1. Smart Watches
     5.3.2. Fitness Bands
     5.3.3. Smart Clothing
     5.3.4. Others
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Fitness Tracker Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Fitness Tracker Market Size and Volume Forecast by Applications
     6.3.1. Heart Rate Tracking
     6.3.2. Sleep Monitoring
     6.3.3. Glucose Monitoring
     6.3.4. Sports, Running
     6.3.5. Cycling Tracking
     6.3.6. Others
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Fitness Tracker Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Fitness Tracker Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Fitness Tracker Demand Share Forecast, 2019-2026
8. North America Fitness Tracker Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Fitness Tracker Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Fitness Tracker Market Size and Volume Forecast by Types
     8.4.1. Smart Watches
     8.4.2. Fitness Bands
     8.4.3. Smart Clothing
     8.4.4. Others
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Fitness Tracker Market Size and Volume Forecast by Applications
     8.7.1. Heart Rate Tracking
     8.7.2. Sleep Monitoring
     8.7.3. Glucose Monitoring
     8.7.4. Sports, Running
     8.7.5. Cycling Tracking
     8.7.6. Others
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Fitness Tracker Demand Share Forecast, 2019-2026
9. Latin America Fitness Tracker Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Fitness Tracker Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Fitness Tracker Market Size and Volume Forecast by Types
     9.4.1. Smart Watches
     9.4.2. Fitness Bands
     9.4.3. Smart Clothing
     9.4.4. Others
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Fitness Tracker Market Size and Volume Forecast by Applications
     9.7.1. Heart Rate Tracking
     9.7.2. Sleep Monitoring
     9.7.3. Glucose Monitoring
     9.7.4. Sports, Running
     9.7.5. Cycling Tracking
     9.7.6. Others
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Fitness Tracker Demand Share Forecast, 2019-2026
10. Europe Fitness Tracker Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Fitness Tracker Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Fitness Tracker Market Size and Volume Forecast by Types
     10.4.1. Smart Watches
     10.4.2. Fitness Bands
     10.4.3. Smart Clothing
     10.4.4. Others
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Fitness Tracker Market Size and Volume Forecast by Applications
     10.7.1. Heart Rate Tracking
     10.7.2. Sleep Monitoring
     10.7.3. Glucose Monitoring
     10.7.4. Sports, Running
     10.7.5. Cycling Tracking
     10.7.6. Others
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Fitness Tracker Demand Share Forecast, 2019-2026
11. Asia Pacific Fitness Tracker Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Fitness Tracker Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Fitness Tracker Market Size and Volume Forecast by Types
     11.4.1. Smart Watches
     11.4.2. Fitness Bands
     11.4.3. Smart Clothing
     11.4.4. Others
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Fitness Tracker Market Size and Volume Forecast by Applications
     11.7.1. Heart Rate Tracking
     11.7.2. Sleep Monitoring
     11.7.3. Glucose Monitoring
     11.7.4. Sports, Running
     11.7.5. Cycling Tracking
     11.7.6. Others
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Fitness Tracker Demand Share Forecast, 2019-2026
12. Middle East & Africa Fitness Tracker Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Fitness Tracker Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Fitness Tracker Market Size and Volume Forecast by Types
     12.4.1. Smart Watches
     12.4.2. Fitness Bands
     12.4.3. Smart Clothing
     12.4.4. Others
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Fitness Tracker Market Size and Volume Forecast by Applications
     12.7.1. Heart Rate Tracking
     12.7.2. Sleep Monitoring
     12.7.3. Glucose Monitoring
     12.7.4. Sports, Running
     12.7.5. Cycling Tracking
     12.7.6. Others
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Fitness Tracker Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Fitness Tracker Market: Market Share Analysis
  13.2. Fitness Tracker Distributors and Customers
  13.3. Fitness Tracker Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Apple, Inc.
     13.4.2. Fitbit, Inc.
     13.4.3. Garmin Ltd.
     13.4.4. Beienda
     13.4.5. Ambiotex GmbH.

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