Heart Rate Monitor Market Size Estimation, Sales Projection, Trends Analysis, Future Dynamics and COVID-19 Impact Analysis By 2023

Heart Rate Monitors Market Share Analysis and Growth By Type (Wearable (Chest Strap, Wrist Strap, Strapless), Non-Wearable), Indication (Sports, Medical) End Users (Hospital & Clinics, Sport Medicine Centers, Professionals, Individuals) – Global Forecast Till 2023

Heart Rate Monitor Market Overview:

The global heart rate monitor market size is expecting adoption of CAGR of around 13.50% during the forecast period of 2018 to 2023. Market Research Future (MRFR) predicts steady growth in the coming years due to several factors like the rising inclusion of diverse types, increasing changes in designs to make the products more alluring, better technological inclusion to satisfy various requirements, hike in the inclusion of such devices in the sports industry, the growing interest for such products among individuals, and a surge in digitalization in the healthcare industry are expected to boost the market.

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Heart Rate Monitor Market Segmentation:

The global market for heart rate monitors has been segmented on the basis of types, applications, and end users. The derived data from these segments are based on factorial analysis and it gains credibility due to the support it gets from various charts and figures.

By type, the global market report on the heart rate monitors has been segmented into wearable and non-wearable devices. The wearable segment includes a wrist strap, chest strap, and strapless. The wrist strap segment has substantial scope for growth for its easy-to-use features and attractive designs. The non-wearable devices include analog and digital. The digital segment is getting traction for its easy to understand features.

By application, the global heart rate monitor market includes sports, medical, and others.

By end user, the heart rate monitor market has been segmented into sport medicine centers, individuals, professionals, hospitals & clinics, and others.

Heart Rate Monitor Market Regional Landscape:

North America will witness a surge in the adoption of these technologies due to the high investment capacity and growing participation from several companies. This participation leads to innovations and widening of the market reach. The US is controlling a huge section of the regional market.

Heart Rate Monitor Market Competitive Landscape:

The global heart rate monitor market is benefiting from the growing impact of companies like Visiomed Group (France), Apple (U.S.), Garmin Ltd.(U.S.), Fitbit Inc. (U.S.), SAMSUNG ELECTRONICS Co. Ltd. (South Korea), Nike (U.S.), Omron Healthcare (Japan), Inc., LG Electronics (South Korea), Mio Global (South Korea), Beurer GmbH (Germany), Polar Electro (Finland), TomTom International BV (The Netherlands), nu-beca & maxcellent co. (Taiwan), Motorola, SUUNTO (Finland), MYZONE (U.S.), Wahoo Fitness (U.S.), Motorola Solutions, Inc. (U.S.), Sony (Japan), Bragi (Germany), Jabra (Germany), Decathlon (France), Moov Inc. (U.S.), Nokia (Finland), and Scosche Industries. (U.S.). These companies have started making marks in the market by innovating products and outdoing their competitors. On the other hand, their portfolio is expanding due to the constant strategic developments in areas like mergers, acquisitions, and joint ventures. MRFR recorded these shifts in recent years to provide a better scope for analysis.

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Heart Rate Monitor Industry News:

In May 2020, Realme launched its new smartwatch in India that comes with a heart rate monitor that would provide real-time heart rate feed. The company is expecting a boost in sales due to the preference for such devices among young athletes and health enthusiasts. The product also comes with different bands and at an affordable price to make it more lucrative among various age groups.

In May 2020, Wahoo announced that they had revamped their existing models Tickr and Tickr X heart rate monitors, as they believe that would help them gain prominence among buyers. These new models have been launched with improved battery life and better connectivity. The company is trying to have a foothold among cyclists who prefer to train with power. This will help them in assessing their bpm and adopting strategies accordingly.

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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Contact:

Akash Anand

Market Research Future

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Email: sales@marketresearchfuture.com

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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