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Wearable Fitness Tracker Market to Garner $124.32 Billion by 2028

08-24-2021 07:09 AM CET | IT, New Media & Software

Press release from: Allied Market Research

Wearable Fitness Tracker Market

Wearable Fitness Tracker Market

As per the report published by Allied Market Research, the global wearable fitness tracker market was pegged at $38.68 billion in 2020, and is estimated to reach $124.32 billion by 2028, registering a CAGR of 17.3% from 2021 to 2028.

The global wearable fitness tracker market includes an in-depth analysis of the prime market players such as Fossil Group, Inc., Apple Inc., Google LLC (Alphabet Inc.), Garmin Ltd., NIKE, Inc., Huawei Technologies Co., Ltd. (Huawei), Sensoria Inc., Samsung Electronics, TomTom N.V., and Xiaomi Corporation.

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Rise in health awareness among the consumers, advent of a large number of players in the market, and increase in demand for wireless fitness & sports devices have boosted the growth of the global wearable fitness tracker market. However, high initial cost of wearable fitness devices hinders the market growth. On the contrary, increase in investment in building connected ecosystem is expected to open lucrative opportunities for the market players in the future.

Covid-19 scenario:

The Covid-19 pandemic severely affected the electronics and semiconductor sectors as manufacturing units across various countries were closed. Moreover, the prolonged lockdown disrupted the supply chain.
The pandemic created uncertainty in the stock market, massive slowing of the supply chain, and resulted in falling business confidence and panic among consumers.

The global wearable fitness tracker market is classified on the basis of device type, component, connectivity, operating systems, distribution channel, application, and region.

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Based on device type, the smartwatches segment held the lion’s share in 2020, accounting for nearly one-third of the market. However, the fitness bands segment is expected to portray the highest CAGR of 19.9% during the forecast period.

On the basis of component, the hardware segment dominated the market in 2019, contributing to nearly three-fourths of the market. However, the software segment is projected to register the highest CAGR of 19.1% from 2021 to 2028.

Get detailed COVID-19 impact analysis on the Wearable Fitness Trackers Market:

The global wearable fitness tracker market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2019, accounting for nearly one-third of the market. However, the market across Asia-Pacific is estimated to register the highest CAGR of 19.3% during the forecast period.

Key Market Segments
By Device Type
• Smartwatches
• Fitness Bands
• Smart Glasses
• Smart Clothing
• Others
By Component
• Hardware
• Software
By Component
• Bluetooth
• Wi-Fi
• Cellular
• Others
By Operating System
• Android
• iOS
• Windows
• Tizen
By Distribution Channel
• Online
• Offline
By Application
• Running
• Cycling
• Heart Rate Tracking
• Stress Management
• Others
By Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o France
o UK
o Italy
o Rest of Europe
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia-Pacific
o Latin America
o Middle East
o Africa


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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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