Global Fitness Tracker Market, By Age Group (Adult's Fitness Tracker, Children’s Fitness Tracker), By Product Type (Activity Monitors, Smart Watches, Smart Clothing), By Wearing Type (Handwear, Legwear, Headwear and Others (Torsowear, Clothwear etc.)), By Sales Channel (Online Sales, Retail Sales), By Application (Heart Rate Tracking, Sleep Measurement Tracking, Glucose Measurement Tracking, Sports, Running, Cycling Tracking), By End-users (Sports, Hospitals and diagnosis center, Others) - Forecast 2023
According to Market Research Future Analysis, Fitness Tracker market is anticipated to grow at a significant rate over the forecast period, 2018-2023.
According to Market Research Future, market has been segmented into age group, product type, wearing type, sales channel, application, end-users and region.
Fitness tracker which is also known as activity tracker is name itself indicates the functioning of the device. It is used to monitor and track the fitness activities such as steps counting, calorie consumption, walking or cycling distance etc. It is a wearable device mostly popular in young generation due to its trendy look and their inclination towards the fitness. Now a days fitness trackers comes with smartwatches which includes other facilities like alarm etc.
The factors such as growing disposable income of people in emerging economies coupled with rising demand of fitness tracker. Furthermore, booming IT industry with its long hours working culture force employers to use fitness tracker so that they can track and manage their exercise accordingly. Growing health alertness is expected to boost the growth of the fitness tracker market over the forecast period, 2018-2023.
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On the basis of age group, the market can be segmented into adult's fitness tracker, children’s fitness tracker. Out of these, adult's fitness tracker accounted for the largest market share majorly due to the increasing adoption electronic gadgets. Similarly, adult's fitness tracker segment is expected to boost the growth of the market over the forecast period, 2018-2023.
On the basis of product type, the market can be segmented into activity monitors, smart watches, and smart clothing. Out of these, smartwatches accounted for the largest market share majorly due to it is a main source of wearable devices having benefits like messaging service, notification updates, alarm, calling and fitness etc., is expected to grow over the forecast period, 2018-2023.
On the basis of wearing type, the market can be segmented into handwear, legwear, headwear and others (torsowear, clothwear etc.). Out of these, handwear segment accounted for the
largest market share majorly due to increasing demand and adoption of smartwatches. Advancement in technology updates the software day by day which indicates the craze of smartwatches and wearable devices globally.
On the basis of sales channel, the market can be segmented into online sales and retail sales. Out of these, online sale of the fitness tracker is more due to which online sale segment accounted for the largest market. Increasing digitalization all over the world changes the way of shopping from traditional to online shopping.
On the basis of application, the market can be segmented into heart rate tracking, sleep measurement tracking, glucose measurement tracking, sports, running, cycling tracking. Out of these, sports, running, cycling tracking segment accounted for the largest market share majorly due to the lifestyle of people related with sports. Fitness tracker is very much needed to the sportsperson to track their daily workouts. Similarly, end-user segment was also dominated by the sports segment due to the large adoption of fitness tracker by sportspersons.
On the basis of region, the market can be segmented into North America, Europe, Asia-Pacific and Rest of the world. North America region accounted for the largest market share majorly due to the large and fast technology adoption. High disposable income coupled with easy affordability of smart gadgets expected to grow the fitness tracker market in North America. In addition, some leading manufacturers of fitness tracker such as Apple Inc., Fitbit, Nike, Misfit Wearable, Inc. are located in North America. Asia Pacific is the fastest growing region for the fitness tracker market due to the increasing health awareness coupled with trendy look of the fitness trackers in young generation.
The key players in the global Fitness Tracker Market include- Apple Inc., Fitbit, Samsung, Garmin, Suunto, Jawbone, Casio, Polar, Nike, Adidas, Misfit Wearable, Inc., Xiaomi and Nokia among others.
Geographically, the global fitness tracker market is segmented into four major regions such as North America, Europe, Asia Pacific and the rest of the world. The North America region commands for the major share in the global fitness tracker market owing to the easy adoption of technologically advanced devices and presence of large pool of health-conscious population in this region. The presence of leading manufacturers of fitness trackers is also aiding the growth of the fitness tracker market in this region. The Europe region is forecasted to project significant growth in the global fitness tracker market owing to the high demand for fitness trackers from sports enthusiasts and increased adoption of innovative technologies in this region. The Asia Pacific region is forecasted to expand at a noteworthy growth rate in the global fitness tracker market due to increasing awareness regarding the fitness trackers and availability of cheaper products in the market of the emerging economies such as India and China in this region.
In November 2018, Huawei has announced the launch of its new device, Band 3 Pro, which is available for purchase in the U.S. Band 3 Pro operates on Lite OS and is considered to be an affordable fitness tracker.
In November 2018, LASER has announced the launch of its new device, V-Fitness activity tracker, which includes several features such as heart rate monitoring, calories burned, sleep analysis and others along with affordable price.
In October 2018, MoveFit, a fitness technology startup, has announced the launch of its new device, MoveFit Bold HR fitness band. It is a feature-packed activity tracker specially designed for sports enthusiasts.
In October 2018, Honor has announced the planned launch of a fitness device, the Honor Band 4 in the U.K. market. This device has already been launched in China at the same launch price.
LIST OF TABLES
TABLE 1 FITNESS TRACKER MARKET, BY AGE GROUP
TABLE 2 FITNESS TRACKER MARKET, BY PRODUCT TYPE
TABLE 3 FITNESS TRACKER MARKET, BY WEARING TYPE
TABLE 4 FITNESS TRACKER MARKET, BY SALES CHANNEL
TABLE 5 FITNESS TRACKER MARKET, BY APPLICATION
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LIST OF FIGURES
FIGURE 1 RESEARCH METHODOLOGY
FIGURE 2 FITNESS TRACKER MARKET, BY AGE GROUP (%)
FIGURE 3 FITNESS TRACKER MARKET, BY PRODUCT TYPE (%)
FIGURE 4 FITNESS TRACKER MARKET, BY WEARING TYPE (%)
FIGURE 5 FITNESS TRACKER MARKET, BY SALES CHANNEL (%)
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