Global Fitness Tracker Market By Age (Children's Fitness Tracker and Adult Fitness Tracker), By Product (Smart Clothing, Fitness Band, Smart Glasses, Activity Monitor, and Smart Watch), By Sales Channel (Retail Sales and Online Sales), By Application (Sports, Heart Rate Tracking, Running, Cycling Tracking, Glucose Measurement Tracking, and Sleep Measurement Tracking), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032
- Published date: Sep 2023
- Report ID: 59737
- Number of Pages: 278
- Format:
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Report Overview
The Global Fitness Tracker Market size is expected to be worth around USD 187.20 Billion by 2032 from USD 39.5 Billion in 2022, growing at a CAGR of 17.3% during the forecast period from 2023 to 2032.
Adults and younger individuals are becoming more aware of health and fitness; hence, fitness trackers are becoming popular. Moreover, these devices have grown majorly during the Covid-19 epidemic. With Increasing adoption, new market players compete to reach the growing need and acquire a more significant market share. This has stimulated a rise in device innovation and development.
Driving Factors
A Rise in Health Issues’ Consumer Awareness
New technology, such as wearable fitness trackers, popularity rising owing to artificial intelligence, IoT, and wireless connectivity. Hence, these companies included upgraded features in their products. As a result, many key players are manufacturing highly advanced fitness trackers to prevail in the market. The wearable fitness trackers’ market popularity increased because of the promotion for increasing consumer health awareness. Tracking heart rate, pulse, sleep, and steps also provides diverse health benefits.
Restraining Factors
High prices will restrain the market growth
Various factors restrain the market’s growth, including the costly fitness tracking devices and the data theft possibility of smartwatch fitness trackers. On the other hand, the Fitbit watch and other fitness tracking features are rising in demand. Although the retail prices of such devices are mainly larger due to manufacturing costs, creating these devices is costly for middle- and low-income consumers.
Growth Opportunities
Novel Features with Technology Will Provide an Opportunity for the Markets
Technological advancement and healthy lifestyle awareness will raise the fitness tracker market demand. Hence, individuals will have different opportunities to increase their individual life standards and activities. Therefore, keeping one’s health tracked and appropriate action taken will become easier for individuals.
Age Analysis
The Adult Fitness Tracker Segment is the Most Lucrative
The global fitness tracker market is segmented by age into children’s and adult fitness trackers. Among these age groups, the adult fitness tracker segment is the most lucrative in the global fitness tracker market.
There is a rising acceptance of health consciousness in different ages, mainly among Gen-Z and millennials. Fitness equipment is in need owing to its increasing health problems related to the rising awareness towards a healthy lifestyle, obesity, desk-oriented jobs, diabetes, insomnia, and depression.
Product Analysis
The Fitness Band Segment is Estimated to be the Most Lucrative Segment
By product, the market is further divided into smart clothing, fitness bands, smart glasses, activity monitors, and smartwatches. The fitness band segment is estimated to be the most lucrative segment in the global fitness tracker market, with a market share of 43.3% and a projected to grow with a high CAGR.
The segment’s rise will be stimulated by ongoing product development, including functions and features such as communication, smartphone calling & notifications capabilities, health tracking & providing fitness, and wrist smartwatches as smartphones.
Sales Channel Analysis
The Online Sales Segment is Estimated to be the Most Lucrative Segment
The market is segmented into retail and online sales based on sales channels. Among these sales channels, the online sales segment is estimated to be the most lucrative segment in the global fitness tracker market.
Owing to e-commerce platforms’ interest in their quick service and convenience will stimulate segment expansion during the forecast period. In addition, the internet and smartphones are increasing in popularity hence, rapid segment growth.
Application Analysis
The Running Segment is Estimated to be the Most Lucrative Segment
Based on application, the market is segmented into sports, heart rate tracking, running, cycling tracking, glucose measurement tracking, and sleep measurement tracking. Among these applications, the running segment is estimated to be the most lucrative in the global fitness tracker market, with the largest revenue share of 43.2%. These are accredited to increasing awareness of trackers in the sports industry with increasing prevalence use by athletes, further increasing market growth.
Key Market Segments
Based on Age
- Children’s Fitness Tracker
- Adult Fitness Tracker
Based on Product
- Smart Clothing
- Fitness Band
- Smart Glasses
- Activity Monitor
- Smart Watch
Based on the Sales Channel
- Retail Sales
- Online Sales
Based on Application
- Sports
- Heart Rate Tracking
- Running
- Cycling Tracking
- Glucose Measurement Tracking
- Sleep Measurement Tracking
COVID-19 Impact Analysis
Due to the COVID-19 pandemic, several industrial markets were affected due to curbing the spread of the disorder, and various governments imposed lockdowns across the world. Due to these, businesses’ manufacturing sectors were impacted heavily.
As a result, a barrier was placed in the supply of raw materials and distribution of products. However, the companies were able to start production when the situation stabilized. Hence, the market is anticipated to gain strength after the Covid-19 pandemic.
Regional Analysis
North America Dominated the Market Share
The global fitness tracker market has been segmented by region into North America, Asia-Pacific, Europe, and MEA. However, North America acquired a significant market share and dominated the market with the largest market share of 42% in 2022. Since fitness trackers’ popularity is increasing, more individuals are aware of these fitness trackers.
Moreover, the growing prevalence of health issues owing to sedentary lifestyles in North America and the novel, innovative products by leading market players will expand the regional business.
APAC Will Show the Highest CAGR in the Forecast Period
APAC will show the highest CAGR in the forecast period owing to rising awareness of health & fitness among working people has helped to adapt the fitness trackers. Moreover, the region’s market will be driven by the rise in consumer income levels, the presence of advanced products by several brands, and the expansion of e-commerce.
Key Regions and Countries Covered in this Report:
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Emerging key market players are concentrated on various strategic policies to develop their businesses in foreign markets. Moreover, the rapidly varying innovations and technology by the prominent market players give strong industry competition.
Hence, the rising brand’s players presenting fitness trackers with new advanced technology, ongoing features development present the best experience to the customer with valuation matching different groups, and increasing e-commerce sector helps the market growth. Therefore, key market players are concentrating on developing and researching more effective products to solve the increasing demand.
Market Key Players:
Listed below are some of the most prominent bio-based surface disinfectant industry players.
- Xiaomi Inc.
- Withings
- Samsung Electronics Co. Ltd.
- Oura Health Ltd.
- Nurvv
- Nike, Inc.
- Moov Inc.
- Lumo Bodytech Inc.
- Jawbone
- Huawei Technologies
- Hexoskin
- Garmin Ltd.
- Fitbit, Inc.
- Beienda
- Apple, Inc.
- Ambiotex GmbH
- Adidas AG
- Other Key Players
Recent Developments:
- In Aug 2021, Catapult launched a novel wearable known as Catapult One, a new athlete’s generation. Catapult One gives coaches and players tracking tools, increased performance & accuracy for professionals, and analyzes at all steps.
- In July 2021, Garmin announced 2 health-related smartwatches. These 2 smartwatches are Venu 2 and Venu 2S, with advanced benefits like an AMOLED touchscreen such as Glass 3 Gorilla protection, features such as a health snapshot, and 25 inbuilt sports apps.
Report Scope:
Report Features Description Market Value (2022) US$ 39.5 Bn Forecast Revenue (2032) US$ 187.2 Bn CAGR (2023-2032) 17.3% Base Year for Estimation 2022 Historic Period 2016-2022 Forecast Period 2023-2032 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered (Children’s Fitness Tracker and Adult Fitness Tracker), By Product Type (Smart Clothing, Fitness Band, Smart Glasses, Activity Monitor, and Smart Watch), By Sales Channel (Retail Sales and Online Sales), By Application (Sports, Heart Rate Tracking, Running, Cycling Tracking, Glucose Measurement Tracking, and Sleep Measurement Tracking) Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; the Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA Competitive Landscape Xiaomi Inc., Withings, Samsung Electronics Co. Ltd., Oura Health Ltd., Nurvv, Nike Inc., Moov Inc., Lumo Bodytech Inc., Jawbone, Huawei Technologies, Hexoskin, Garmin Ltd., Fitbit, Inc., Beienda, Apple, Inc., Ambiotex GmbH, Adidas AG, and Other Key Players Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
How big is the fitness tracker market?the global fitness tracker market was valued at US$ 39.5 billion. Between 2023 and 2032, this market is estimated to register a CAGR of 17.3%.
What is CGAR for Gobal Fitness Tracker Market?this market is estimated to register a CAGR of 17.3%.
What is north America Dominance in Global fitness tracker market?North America acquired a significant market share and dominated the market with largest market share of 42% in 2022.
- Xiaomi Inc.
- Withings
- Samsung Electronics Co. Ltd.
- Oura Health Ltd.
- Nurvv
- Nike, Inc.
- Moov Inc.
- Lumo Bodytech Inc.
- Jawbone
- Huawei Technologies
- Hexoskin
- Garmin Ltd.
- Fitbit, Inc.
- Beienda
- Apple, Inc.
- Ambiotex GmbH
- Adidas AG
- Other Key Players
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