Global Gym & Club Fitness Trackers Market Will Generate Record Revenue by 2028

The global gym club fitness trackers market is anticipated to grow at a considerable CAGR during the forecast period (2022-2028). The rise in product innovations that can track fitness activities coupled with other features is anticipated to drive the growth of the market. For instance, in October 2021, Apple Inc launched Apple Watch Series 7. The apple watch series 7 offers indispensable tools for health and wellness including an electrical heart sensor and ECG app, and a blood oxygen sensor. Also, the watch 7 series allows users to stay healthy, active and connected through new workout types. The Apple Watch 7 series contains IP6X certification for resistance to dust and maintains WR50 water-resistant rating. Further, in July 2021, One plus Technology Co. Ltd had launched One plus Cobalt Limited Edition Watch in India. The watch features a 1.39-inch HD AMOLED display. In addition, the watch consists of several health-focused features such as SpO2 monitoring, rapid heart rate alerts, stress detection, and sedentary reminders.

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The rise in the penetration of smart phones coupled with rapid internet connectivity is anticipated to drive the growth of the global gym club fitness trackers market. For instance, according to the data published by Global System for Mobile Association (GSMA) in 2020, smart phone penetration is anticipated to reach 80.0% by 2025, owing to shifts and changes in consumer behavior. Moreover, 70.0% of smart phones are anticipated to run on LTE, reflecting the influence of mobile internet generation. Further as per GSMA, by the end of 2019, 3.8 billion people were using mobile internet, with three-quarters of all mobile internet users living in low and middle-income countries.

The rising urbanization coupled with rising disposable income is influencing consumer spending on smart devices that can track fitness activities to maintain a healthy lifestyle, which is further driving the growth of the global gym clubs fitness trackers market. According to the data published by UNCTAD in 2021, the share of the urban population increased to 56.2% in 2020. In developed economies, 79.0% of people live in cities. Also, as per the data published by United Nations Organization, the global population is projected to increase by 2 billion persons in the next 30 years from 7.7 billion in 2020 to 9.7 billion in 2050 and could peak at nearly 11 billion around 2100. The growth has been driven by increasing urbanization and accelerating migration. 61.0% of the global population lives in Asia, 17.0% in Africa, 10.0% in Europe, 8.0% in Latin America, and the remaining 5.0% in Northern America. Moreover, as per the data published by Statistics Canada,  the share of disposable income for the household in the lowest quintile increased from 6.1% in the first quarter to a high of 7.2% in the second quarter of 2020. Also, as per OECD, the average household net adjusted disposable income per capita is $30,490 per annum.

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Market Coverage

The market number available for - 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Product Type
By End-User
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- Moov Inc., Wahoo Fitness, and Hykso among others

Key questions addressed by the report

What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?

Global Gym & Club Fitness Trackers Market Report by Segment

By Product Type

Wrist Wear
Leg Wear
Others

By End-User

Specialist Retailers
Factory Outlets
Online Sales

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This release was published on openPR.