DUBAI, UAE, Nov. 30, 2023 /PRNewswire/ -- As per the latest report published by Kings Research, the global Fitness Trackers Market was valued at USD 46.12 billion in 2022 and is projected to reach USD 136.94 billion by 2030, growing at 14.57% CAGR over the forecast period between 2023 and 2030. The market is experiencing substantial growth due to several factors such as the increasing consumer interest in health and fitness, rising obesity rates, and the demand for real-time monitoring of physical activities. Moreover, the inclusion of advanced technologies such as heart rate monitoring, GPS tracking, sleep analysis, and smartphone connectivity has significantly improved the attractiveness of fitness trackers.
Fitness trackers are wearable devices that monitor physical activity, health, and fitness. Worn on the wrist, they use sensors to track metrics like steps taken, distance traveled, calories burned, heart rate, and sleep patterns. These devices are not limited to exercise tracking; they also offer features such as sedentary reminders, stress tracking, and notification alerts, making them versatile tools for maintaining an active lifestyle, tracking progress, and setting fitness goals.
Apart from their popularity among individuals, fitness trackers have gained traction in healthcare settings. They play a vital role in remote patient monitoring and preventive care, enabling healthcare professionals to closely monitor patients' health and provide timely interventions when needed.
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Trending Now: Strava Unveils Integration with Nike Apps in a Fresh Partnership
In May 2023, the well-known fitness tracking app for iPhone and Apple Watch, Strava, unveiled an important collaboration with Nike. This partnership will enable Strava users to seamlessly share their activity data on both platforms, encompassing the Nike Run Club and Nike Training Club apps.
Prominent companies in the global fitness trackers market are prioritizing strategic collaborations to extend their global presence. For instance, In August 2023, Xiaomi introduced the Xiaomi Smart Band 8 Pro, a feature-rich wearable device for health and fitness enthusiasts. The smart band offers capabilities such as heart rate monitoring, blood oxygen level tracking, and sleep monitoring. It boasts a vibrant full-color AMOLED display and provides an impressive 9 days of battery life. The Xiaomi Smart Band 8 Pro is available at a competitive price of USD 52.
Key companies profiled in the fitness trackers market include:
- Apple Inc.
- Google LLC
- Garmin Ltd.
- Samsung Electronics Co., Ltd.
- Xiaomi Corporation
- Huawei Technologies Co., Ltd.
- Huami Corporation
- Fossil Group, Inc.
- Polar Electro Oy
- Amer Sports Corporation
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Growing Emphasis on Consumer Health to Drive Fitness Trackers Market Progress
Based on application, the global market is bifurcated into general wellness and medical needs.
The general wellness segment led the fitness trackers market, garnering the largest market share in 2022. This segmental growth is attributable to the growing emphasis on consumers' overall health and well-being. Fitness trackers designed for general wellness, including daily activity tracking, sleep monitoring, and stress management, experience significant popularity fueling product demand.
Convenience and Accessibility Offered by Online Distribution Channel to Spur Fitness Trackers Market Progress
Based on distribution channel, the market is classified into online and offline.
The online segment is expected to lead the market in the upcoming years. This growth is driven by the convenience and accessibility offered by online shopping channels, allowing consumers to explore a diverse range of fitness tracker options, compare prices, and access customer feedback.
Furthermore, the rise of the online segment as a primary driver in the fitness trackers market is powered by the growing prevalence of e-commerce and the global shift toward online shopping. This segment provides consumers with a seamless and efficient means of acquiring fitness tracking technology, aligning with their preferences, and delivering a hassle-free shopping experience.
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Surging Emphasis on Preventive Healthcare to Drive Fitness Trackers Market Growth
The increasing emphasis on preventive healthcare is anticipated to drive global fitness trackers market growth. Growing awareness of health and wellness, individuals actively seeking tools to monitor their fitness levels and make informed lifestyle choices further contribute to the increasing product demand. This has led to the development of multi-functional trackers that not only track basic activities but also monitor important health indicators like blood pressure and glucose levels, providing users with a comprehensive health monitoring experience.
Additionally, there's a noticeable trend in the market towards wearable tech with a fashion-forward design. This appeals to a wider range of consumers who value both style and functionality in their fitness trackers. Moreover, environmental sustainability is becoming a significant consideration, resulting in the production of eco-friendly fitness trackers that align with the increasing consumer demand for environmentally conscious products.
Well-Established Fitness Culture of North America to Propel Fitness Trackers Market
North America has emerged as the dominant force in the fitness trackers market, driven by strong consumer demand for health and fitness-related products, a tech-savvy population, and a well-established fitness culture. The region's market leadership is further strengthened by the presence of major fitness tracker manufacturers and tech giants. Strategic collaborations with healthcare providers and insurance companies have also played a significant role in boosting fitness tracker adoption within wellness programs and preventive healthcare initiatives. With a continued focus on health and well-being, North America is anticipated to uphold its position in the global fitness trackers industry.
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Key Points from TOC:
Chapter 1 Introduction of the Global Fitness Trackers Market
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
Chapter 2 Executive Summary
Chapter 3 Research Methodology
3.1 Data Collection
3.1.1 Secondary Sources
3.1.2 Primary Sources
3.1.3 Research Flow
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach
Chapter 4 Global Fitness Trackers Market Outlook
4.1 Market Evolution
4.3 Market Dynamics
4.4 Pricing Analysis
4.5 Porter's Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis
Chapter 5 Impact of Russia-Ukraine War
Chapter 6 Global Fitness Trackers Market, By Application
Chapter 7 Global Fitness Trackers Market, By Distribution Channel
Chapter 8 Global Fitness Trackers Market, By Geography
Chapter 9 North America
Chapter 10 Europe
Chapter 11 Asia-Pacific
Chapter 12 Middle East & Africa
Chapter 13 Latin America
Chapter 14 Global Fitness Trackers Market Competitive Landscape
Chapter 15 Company Profiles
15.1 Apple Inc.
15.1.1 Key Facts
15.1.2 Financial Overview
15.1.3 Product Benchmarking
15.1.4 Recent Developments
15.1.5 Winning Imperatives
15.1.6 Current Focus & Strategies
15.1.7 Threat from competition
15.1.8 SWOT Analysis
15.2 Google LLC
15.2.1 Key Facts
15.2.2 Financial Overview
15.2.3 Product Benchmarking
15.2.4 Recent Developments
15.2.5 Winning Imperatives
15.2.6 Current Focus & Strategies
15.2.7 Threat from competition
15.2.8 SWOT Analysis
15.3 Garmin Ltd.
15.3.1 Key Facts
15.3.2 Financial Overview
15.3.3 Product Benchmarking
15.3.4 Recent Developments
15.3.5 Winning Imperatives
15.3.6 Current Focus & Strategies
15.3.7 Threat from competition
15.3.8 SWOT Analysis
15.4 Samsung Electronics Co., Ltd.
15.4.1 Key Facts
15.4.2 Financial Overview
15.4.3 Product Benchmarking
15.4.4 Recent Developments
15.4.5 Winning Imperatives
15.4.6 Current Focus & Strategies
15.4.7 Threat from competition
15.4.8 SWOT Analysis
15.5 Xiaomi Corporation
15.5.1 Key Facts
15.5.2 Financial Overview
15.5.3 Product Benchmarking
15.5.4 Recent Developments
15.5.5 Winning Imperatives
15.5.6 Current Focus & Strategies
15.5.7 Threat from competition
15.5.8 SWOT Analysis
Browse Complete TOC: https://www.kingsresearch.com/toc/fitness-trackers-market-261
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