Data Bridge Market Research analyses that the global fitness trackers market will project a CAGR of 20.00% for the forecast period of 2022-2029. Growth and expansion of sports industry especially in the developing economies, rising awareness about the benefits of maintaining good physical health, growing popularity of various brands and increasing personal disposable income are the major factors attributable to the growth of fitness trackers market.
Surging participation of youngsters in all kinds of sports all around the globe and rising number of product innovations are the major factors fostering growth of the market. Rising popularity of smartwatches and surging penetration of smartphones will further create lucrative growth opportunities for the market. Rising number of offline distribution channels, growing number of celebrity brand endorsements, growing health expenditure especially in the developing economies, continuous improvement in the materials used for the manufacturing of fitness trackers to enhance product performance, rising volume of patients suffering from health disorders such as cardiovascular diseases and increasing penetration of e-commerce platforms are other important factors bolstering the market growth rate.
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Some of the major players covered in the fitness trackers market are SAMSUNG, Garmin Ltd., Huawei Technologies Co., Ltd., Apple Inc., Sony Corporation, HTC Corporation, Fitbit, Inc., Xiaomi Global Community, ADIDAS AG, Nike, Inc., LG Electronics., Motorola Solutions, Inc., Fossil Group, Inc., Google LLC, Polar Electro, Withings, Michael Kors, CASIO AMERICA, INC., TomTom International BV., and ASUSTeK Computer Inc., among others.
Global Fitness Trackers Market Scope and Market Size
The fitness trackers market is segmented on the basis of device type, wearing type, end-user, age group, sales channel, display type, compatibility, and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of device type, the fitness trackers market is segmented into wrist-wear, smart garments and body sensors, leg-wear, and others. Wrist-wear has been further segmented into smartwatch, fitness band, and others. Others have been further segmented into helmets, smart glasses, pendants, earphones, clips, and brooches.
- Based on wearing type, the fitness trackers market is segmented into hand wear, leg wear, head wear, and others. Others have been further segmented into torsowear, and clothwear.
- On the basis of end-user, the fitness trackers market is segmented into sports, hospitals and diagnosis center, and others.
- Based on age group, the fitness trackers market is segmented into adult's fitness tracker, and children’s fitness tracker.
- On the basis of sales channel, the fitness trackers market is segmented into online, and offline.
- Based on display type, the fitness trackers market is segmented into colored display, and monochrome display.
- On the basis of compatibility, the fitness trackers market is segmented into android, iOS, Tizen, windows, and others.
- Fitness trackers market is segmented in terms of market value, volume, market opportunities, and niches into multiple applications. The application segment for fitness trackers market includes heart rate tracking, sleep measurement, glucose measurement and sports, running, and cycling tracking.
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Fitness Trackers Market Country Level Analysis
The fitness trackers market is analyses and market size, volume information is provided by country, device type, wearing type, end-user, age group, sales channel, display type, compatibility, and application as referenced above.
The countries covered in the fitness trackers market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
North America is dominating the fitness trackers market and will continue to owing to the increasing occurrences of chronic disorders along with rising health awareness among the people. Asia-Pacific will continue to undergo substantial gains during the forecast period and score the highest growth rate owing to the rising participation of youngsters in national games, growing awareness about maintaining physical fitness, rising number of sports activities along with growth of e-commerce sector and improving personal disposable income.
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