Press release
Global Wearable Fitness Technology Market By Product (Smartwatch, Wristband, Smartshoe,) And Forecast 2020-2027
Wearable Fitness Technology consist electronic products that have been designed to be worn by the person so that can keep a track of its heartbeat, footsteps, so that one can keep himself fit and fine and also give a real time information about the health of the overall body. This technology is used to monitor or record fitness related activities such as calories, heart rate, sleep, steps, and others.Rise in consumer preference towards smart gadgets is the key driving factor which is expected to boost the global wearable fitness technology market growth. Furthermore, rise in demand for wearable fitness and medical devices will positively contribute the market growth. Also, rise in awareness about fitness and increasing disposable income in developing economies will fuel the market growth during this forecast period. Moreover, continuous technological advancements will drive the market growth. For instance, in May 2020, Fitbit had launched its new wearable 4G-Enabled Smartwatch for children. It has safety tracking features with video calling, and voice calling options. Additionally, increase in demand for connected devices will raise the demand for wearable fitness technology in near future.
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However, power consumption and limited battery life of wearable devices is the major restraining factor which is expected to hinder the global wearable fitness technology market growth. Also, high initial cost and production cost will affect the market growth.
Market Segmentation
Global Wearable Fitness Technology Market is segmented into product such as Smartwatch, Wristband, Smart shoe, Smart Shirt, Headband, and Others, by component such as Display, Processor, Memory Chip, Power Management Components, Networking Components, User Interface Components, Sensors, Mechanical Components, and Others, by technology such as Computing Technologies, Display Technologies, Networking Technologies, Positioning Technologies, Sensor Technologies, and Speech Recognition Technologies. Further, market is segmented into activity tracking such as Calories, Steps, Sleep, Heart Rate, and Others.
Also, Global Wearable Fitness Technology Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Fitbit Inc., Apple Inc., Xiaomi Technology Co. Ltd., Garmin Ltd., Samsung Electronics Co. Ltd., Adidas AG, LG Electronics Inc., Nike Inc., Qualcomm Inc, and Sony Corp.
Market Taxonomy
By Product
• Smartwatch
• Wristband
• Smartshoe
• Smart Shirt
• Headband
• Others
By Component
• Display
• Processor
• Memory Chip
• Power Management Components
• Networking Components
• User Interface Components
• Sensors
• Mechanical Components
• Others
By Technology
• Computing Technologies
• Display Technologies
• Networking Technologies
• Positioning Technologies
• Sensor Technologies
• Speech Recognition Technologies
By Activity Tracking
• Calories
• Steps
• Sleep
• Heart Rate
• Others
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
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Vishal Thakur
Research Support Specialist
QualiKet Research
6060 N Central Expy #500, TX 75204, U.S.A
sales@qualiketresearch.com
Website: https://qualiketresearch.com
QualiKet Research is a leading Market Research and Competitive Intelligence partner helping leaders across the world to develop robust strategy and stay ahead for evolution by providing actionable insights about ever changing market scenario, competition and customers. QualiKet Research is dedicated to enhancing the ability of faster decision making by providing timely and scalable intelligence. We use different intelligence tools to come up with evidence that showcases the threats and opportunities which helps our clients outperform their competition.
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