Future Market Insights delivers key insights on the global wearable fitness tracker market in its report titled “Wearable Fitness Trackers Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027.” Growth in the market value of the global wearable fitness tracker market will remain attractive as the market is expected to grow continuously at a CAGR of 15.8% in terms of value during the forecast period 2017 – 2027. The global wearable fitness trackers market is expected to register a CAGR of 15.8% during 2017 – 2027, with North America, Western Europe, Japan and China accounting for significant market value shares by the end of the forecast period.
The global annual revenue from the wearable fitness tracker market was valued at US$ 21,661.3 Mn by the end of 2017, which is expected to grow at a steady pace over the coming years. The dominating regions, i.e., North America, Western Europe, Japan, China and SEA & Other of APAC, are expected to collectively account for a majority share of the global wearable fitness tracker market. The North America wearable fitness tracker market, Western Europe wearable fitness tracker market and APEJ wearable fitness tracker market are likely to dominate the global market over the forecast period.
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Wearable Fitness Trackers Market: Factors Boosting Adoption
Since last few years, the adoption of wearable fitness trackers has been increasing considerably, especially in the 25-44 years category. Development in the imaging technologies of wearable fitness trackers and continuously emerging new features in the products are boosting the adoption of wearable fitness trackers in the consumer segment. Nowadays, consumers prefer modern ways of fitness tracking as “guesstimating” is not accurate to keep track of the fitness data. Hence, the availability of technology-based smart wearable devices for keeping track of fitness activities is driving the wearable fitness trackers market.
Disposable income and rising concerns regarding a healthy lifestyle are also driving the wearable fitness trackers market across major economies of the world. Continuous technological developments intended to reduce the overall cost of various components of wearable fitness trackers are facilitating a decrease in the overall cost of wearable fitness trackers, which is making it more affordable for the middle-income population. At present, wearable fitness trackers are largely being used by the high-income population for an enhanced end-user experience with reference to fitness and health aspects.
Wearable Fitness Trackers Market: Segmental & Regional Analysis
On the basis of FMI analysis, the wrist wear sub-segment of the product type segment is expected to dominate the wearable fitness tracker market since wrist wear is easy to use and increases the focus of users towards fitness. On the basis of application, the pedometer segment is expected to be a dominating segment in the global wearable fitness tracker market. The development and integration of healthcare processes with technology and the evolution of new functions/features are some of the major factors driving the adoption of wearable fitness trackers.
The North America wearable fitness tracker market is expected to dominate the global wearable fitness tracker market due to high growth in the overall revenues generated from the wrist wear segment, high disposable income as well as the high standard of living in the region. The wearable fitness tracker market in Western Europe has high potential owing to the increasing adoption of wearable fitness trackers as one of the solutions for living a healthy life. The APEJ wearable fitness tracker market will be a target market for market participants owing to the high growth opportunities in countries such as India and China.
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Key Segments Covered
Product Type:
- Wrist wear
- Leg wear
- Smart garments
- Others
Application:
- Pedometer
- Heart rate monitor
- Daily activity tracker
- Call text & calendar
- Sleep tracking
- GPS tracking
- Others
Distribution Channel:
- E-Commerce
- Retail Stores
Age-Group:
- 0-5 Years
- 6-18 Years
- 19-24 Years
- 25-44 Years
- 45-60 Years
- 60+ Years
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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