Fitness Tracker Market Size, Share, Growth Analysis, Segmentation, Developments, Competitive Landscape, Latest Innovations and Industry Forecast to 2023

Market Research Future published a research report on “Fitness Tracker Market Research Report – Global Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Overview: 

The global fitness tracker market is predicted to touch USD 15.88 billion at a 13.02% CAGR between 2017- 2023, states the recent Market Research Future (MRFR) analysis. A fitness tracker, simply put, is a device used for tracking and monitoring body activities that are fitness-related such as sweat rate, sleep duration, distance covered, heart rate measurement, calories burned & consumed, and steps covered.

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Various factors are propelling the global fitness tracker device market share. As per the current MRFR report, such factors include burgeoning demand for various smart devices to track the health and activities of an individual, growing popularity of adventure sports, increased reliance on various smart devices to monitor different health-related metrics, increasing awareness about the different benefits of using a fitness tracker, rising adoption of technology, growing health awareness, and availability of user-friendly devices. Besides, the collaborations between fitness tracker companies such as Fitbit with that of health industry leaders like Apple to study how wearables can help in identifying, and tracking COVID-19 infections is also adding to the fitness tracker watch market growth.

On the contrary, the soaring price of devices and misinterpretation of data for low sensitivity of devices are factors that may limit the global Fitness Tracker Market growth over the forecast period.

Fitness Tracker Market – Segmentation

The global fitness tracker market has been segmented on the basis of age group, product type, wearing type, sales channel, application and end-users. Based on age group, the fitness tracker market has been segmented into adult’s fitness tracker and children’s fitness tracker. Based on product type, the fitness tracker market has been segmented into activity monitors, smart watches and smart clothing. Based on wearing type, the fitness tracker market has been segmented into handwear, legwear, headwear and others. Others include torsowear and clothwear. Based on sales channel, the fitness tracker market has been segmented into online sales and retail sales. Based on application, the fitness tracker market has been segmented into heart rate tracking, sleep measurement tracking, glucose measurement tracking and sports, running, cycling tracking. Based on end-users, the fitness tracker market has been segmented into sports, hospitals and diagnosis centers and others.

Key Players

The leading players profiled by MRFR that are operating in the global fitness tracker market are Apple Inc. (Ticker: AAPL), Fitbit, Samsung, Garmin (Ticker: GRMN), Suunto, Jawbone, Casio, Polar, Nike, Adidas, Misfit Wearable, Inc., Xiaomi and Nokia and others.

Global Fitness Tracker Market – Regional Analysis

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.

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