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Smart Sports Fitness Tracker Market Insights and Major Trends Encouraging Growth until the End of 2022 || Bosal, Westfalia Automotive, Brink/ Thule Towing Systems, PCT Automotive, Tow-Trust Towbars, Thule

06-11-2019 02:18 PM CET | Sports

Press release from: Fact.MR

/ PR Agency: Fact.MR
Smart Sports Fitness Tracker Market Insights and Major Trends Encouraging Growth until the End of 2022 || Bosal, Westfalia Automotive, Brink/ Thule Towing Systems, PCT Automotive, Tow-Trust Towbars, Thule

The global Smart Sports Fitness Tracker Market is expected to register a steady growth attributed to considerable demand in the fitness industry. Consumption of smart sports fitness tracker is high among the healthcare manufacturers attributed to increasing need for monitoring rate of heart beat, monitoring respiratory rate, and calories burned or consumed among the diabetic patients. Activity tracking is expected to witness considerable demand in the fitness industry as compared to other products. Sales of smart sports fitness trackers is expected to remain high through sports and departmental stores in the global market. Europe is expected remain the largest market for smart sports fitness tracker globally.

Smart sports fitness tracker is an application or device that is used to track and monitor fitness-related activities including heartbeat, quality of sleep, and consumption of calories. It also measures the distance and number of footsteps walked or run by the end user. Attributed to integrated technologies such as optical heart rate monitor and bio-impedance sun sensors, smart fitness trackers witness considerable consumption among diabetic patients.

The global smart sports fitness tracker market will register a moderate growth, and is expected to represent a value of over US$ 2,700 Mn by the end of 2022.

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While fitness trackers don’t really feature in the must-have devices list, upgraded technology integrated in these devices has led to an increasing dependence on these devices for tracking fitness physical activities. As people are getting more conscious about weight management, demand for tracking and managing physical activities is expected to rev up. Fitness tracker is becoming a tool of motivation for people to increase their physical activities. Maintaining a log of sleeping patterns, and tracking the calories burned through fitness tracker is becoming a fashion forwards trend globally. Apart from a pedometer device, use of fitness tracker is constrained to personal accountability and psychological encouragement. Bound to such factors, the smart sports fitness tracker is expected to witness considerable demand among the manufacturers operating in the fitness industry.

Wearable devices have bridged the gap between actual medical care and fitness tracking. Increasing need to maintain sleep log, and track physical activities has led to an upsurge in demand for fitness trackers in the healthcare sector. Manufacturers operating in the healthcare industry are integrating updated technology including galvanic skin response sensor, bio-impedance sun sensors and optical heart rate monitors. Equipped with optical heart rate monitor, the fitness tracker enables patients to track their heart rate through photoplethysmography process. This device further enables the patients to track their respiration rate, heart rate, and galvanic skin responses through the bio-impedance sun sensor features. Such factors are likely to impact growth of the global smart sports fitness tracker market positively.

On the other hand, availability of similar technical features in smart watches, and smart phones has led to a drop in demand for sports fitness trackers. Fitness tracker operates as a pedometer, however inaccurate results have led to a downturn in demand for sports fitness tracker. Such factors are likely to inhibit growth of the global smart sports fitness tracker market throughout 2022.

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Activity tracking is expected to register the highest growth in terms of revenue in the global smart sports fitness tracker market. This segment is expected to represent a value of over US$ 180 Mn in the global market by the end of 2022. Heart rate product is expected to register the second highest growth in terms of revenue in the global smart sports fitness tracker market. Europe is expected to remain the largest market for sport fitness tracker products globally. Augmenting nutrition plan is expected to register the highest CAGR, followed by heart rate in the global market throughout 2022.

Sports stores is expected to register the highest growth in terms of revenue in the global smart sports fitness tracker market. This segment is expected to represent a value of over US$ 180 Mn in the global market in 2017. Departmental stores is expected to register the second highest growth in terms of revenue in the global smart sports fitness tracker market by the end of 2017. Sales of smart sports fitness tracker in Europe will generate the highest revenue in the global market throughout 2022. Online retail is expected to register the highest CAGR growth in the global smart sports fitness tracker market through 2022.

Mid price is expected to register the highest growth in terms of revenue in the global smart sports fitness tracker market. This segment is expected to represent a value of over US$ 200 Mn in the global market by the end of 2022. Economic prices is expected to register the second highest growth in the global smart sports fitness tracker market through 2022. This segment is expected to register the highest CAGR in the global market throughout 2022.

Competitive Tracking

Leading market players in the global smart sports fitness tracker market include Witter, Bosal, Westfalia Automotive, Brink/ Thule Towing Systems, PCT Automotive, Tow-Trust Towbars, Thule, Dixon Bate Limited, David Murphy Towing, A1 Towing Limited, A1 Towing Limited, and Montaplast GmbH.

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About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

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Growing need to track and monitor heart beat rate and calorie consumption has revved up demand for fitness trackers among the diabetic manufacturers. As manufacturers are increasingly integrating bio-impedance sensors and galvanic skin response sensors, demand for fitness trackers is projected to increase in the fitness industry globally. According to a recently published report by Fact.MR, the global smart sports fitness tracker market will reflect a steady CAGR over the forecast period,