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.
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. |
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.
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.
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.
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.
Segment Covered in the Report
Types
Applications
Distribution Channels
Regions
Key Players
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.
Segment Covered in the Report
Types
Applications
Distribution Channels
Regions
Key Players
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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