Market Size –
The fitness tracker market size has grown exponentially in recent years. It will grow from $47.65 billion in 2023 to $57.77 billion in 2024 at a compound annual growth rate (CAGR) of 21.2%. The growth in the historic period can be attributed to increased health and fitness awareness, shift towards wellness and preventive health, demand for weight management, health insurance and corporate wellness, sports and athletic trends.
The fitness tracker market size is expected to see rapid growth in the next few years. It will grow to $116.48 billion in 2028 at a compound annual growth rate (CAGR) of 19.2%. The growth in the forecast period can be attributed to sleep tracking and wellness, senior and elderly fitness, pediatric fitness trackers, ecosystem integration, mental health monitoring. Major trends in the forecast period include wearable ecg and health tracking, remote health monitoring, ai and data analytics, customization and personalization, emphasis on fashion and design.
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Scope Of Fitness Tracker Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Fitness Tracker Market Overview
Market Drivers –
The increase in the incidence of health disorders is expected to propel the growth of the fitness tracker market going forward. A health disorder refers to a condition that has known physical causes and visible psychopathology. With a fitness tracker, there will be physical activity every day, which helps in preventing various health disorders. For instance, in September 2022, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, there were 41 million deaths, which is 74% of those caused by non-communicable diseases (NCDs) or chronic diseases every year globally. There were 17.9 million deaths from cardiovascular diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths from diabetes. Therefore, the increasing incidence of health disorders is driving the growth of the fitness tracker market.
The fitness tracker market covered in this report is segmented –
1) By Device Type: Smart Watches, Fitness Band, Smart Glasses, Smart Clothing, Other Device Types
2) By Application: Heart Rate Tracking, Sleep Measurement, Glucose Measurement, Sports, Running, Cycling Tracking
3) By Distribution Channel: Online, Retail, Other Distribution Channel
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Regional Insights –
North America was the largest region in the fitness tracker market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fitness tracker market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the fitness tracker market include Fitbit Inc., Apple Inc., Garmin Ltd., Google LLC, Huawei Technologies Co. Ltd., NIKE Inc., Samsung Electronics Co. Ltd., Xiaomi Inc., Adidas Inc., Jawbone, Polar Electro Oy, Beienda International Co. Limited, Ambiotex GmbH, Hexoskin, Fossil Group Inc., TomTom N.V., Huawei Technologies Co. Ltd., TomTom International BV, Misfit Inc., Moov Inc., Lumo Bodytech Inc., Atlas Wearables Inc., Basis Science Inc., Bragi GmbH, Casio Computer Co. Ltd., Catapult Sports Pty Ltd., Coros Wearables Inc., Epson America Inc., Jaybird LLC, LG Electronics Inc., LifeBEAM Technologies Ltd., Motorola Mobility LLC, Pebble Technology Corp., Razer Inc., Sony Corporation, Timex Group USA Inc., Under Armour Inc.
Table of Contents
1. Executive Summary
2. Fitness Tracker Market Report Structure
3. Fitness Tracker Market Trends And Strategies
4. Fitness Tracker Market – Macro Economic Scenario
5. Fitness Tracker Market Size And Growth
…..
27. Fitness Tracker Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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