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 2021 – 2028
The global fitness tracker market was valued USD 34.6 billion in 2020 and is anticipated to expand at a CAGR of 18.8% during the forecast period, 2021-2028. 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.
Market Trends, Drivers, Restraints, and Opportunities
- 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 the 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 | 2020 |
| Historic Data | 2018 & 2019 |
| Forecast Period | 2021–2028 |
| 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.
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.
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
Segment Covered in the Report
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
- Apple, Inc.
- Fitbit, Inc.
- Garmin Ltd.
- Beienda
- Ambiotex GmbH.
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.
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 Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Fitness Tracker Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Fitness Tracker Demand Share Forecast, 2019-2026
7. North America Fitness Tracker Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Fitness Tracker Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Fitness Tracker Market Size and Volume Forecast by Types
7.4.1. Smart Watches
7.4.2. Fitness Bands
7.4.3. Smart Clothing
7.4.4. Others
7.5. Basis Point Share (BPS) Analysis by Types
7.6. Y-o-Y Growth Projections by Types
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Fitness Tracker Demand Share Forecast, 2019-2026
8. Latin 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
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Fitness Tracker Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin 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. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Fitness Tracker Demand Share Forecast, 2019-2026
9. Europe 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. Europe Average Pricing Analysis
9.2. Europe Fitness Tracker Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe 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. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Fitness Tracker Demand Share Forecast, 2019-2026
10. Asia Pacific 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. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Fitness Tracker Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific 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. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Fitness Tracker Demand Share Forecast, 2019-2026
11. Middle East & Africa 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. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Fitness Tracker Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa 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. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Fitness Tracker Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Fitness Tracker Market: Market Share Analysis
12.2. Fitness Tracker Distributors and Customers
12.3. Fitness Tracker Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Apple, Inc.
12.4.2. Fitbit, Inc.
12.4.3. Garmin Ltd.
12.4.4. Beienda
12.4.5. Ambiotex GmbH.
Segment Covered in the Report
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
- Apple, Inc.
- Fitbit, Inc.
- Garmin Ltd.
- Beienda
- Ambiotex GmbH.
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.
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