Fitness Tracker Market to be sustained by technological advancements during 2021-2031

The global fitness tracker market is expected to witness moderate growth during the forecast period between 2021 and 2031.

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Fitness trackers are products that help to monitor and track different activities such as sleep duration, heartbeat monitoring, and number of steps walked or jogged every day, among different population sections.

Fitness trackers are generally connected to computers or smartphones using wireless connectivity platforms.

Fitness tracking devices have witnessed rapid growth in the last few years with even clinical settings looking to adopt these products in a bid to attain real-time data.

Some of the commonly-used fitness trackers include smartwatches, fitness bands, smart clothing, and smart glasses. These devices have been used frequently used by athletes, competing in different sports to gain a better idea about fitness levels, regularly.

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Fitness Tracker Market - Trends and Opportunities

Rising awareness to remain fit and healthy among different population sections is the key growth driver for the global fitness tracker market.

Also, increasing prevalence of different health-related disorders such as obesity could contribute to the growth of the overall fitness tracker market, in the coming years.

Advancements to existing fitness tracker products such as the integration of new technologies are also anticipated to fuel the growth in the global fitness tracker market, in the years ahead.

Other factors such as increasing population suffering from sleep disorders as well as rising disposable income among different population sections are also expected to propel the fitness tracker market, in future.

Fitness bands are expected to make the largest contribution to the overall fitness tracker market because of increasing global need to monitor physical activities and the user-friendly nature of these products.

Running application segment is anticipated to contribute the most to the overall fitness tracker market owing to rising product demand among sprinters and sports athletes for different fitness activities.

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Fitness Tracker Market - Competitive Landscape

The global fitness tracker market is highly competitive, with the presence of well-established market players. Many of them are expected to account for a large share in the overall market, in the years ahead.

Growth strategies such as novel product launches could help leading fitness tracker market players gain a competitive edge over others.

Xiaomi launched a new product named 'Mi Smart Band 5', in June 2020. This product has proven useful in providing increased fitness tracking accuracy, monitoring stress levels, and remote shutter control.

Prominent fitness tracker market players could collaborate with the smaller players in a bid to expand their market presence and increase their revenue shares.

A few leading players in the global fitness tracker market include Garmin Ltd., Fitbit Inc., Apple Inc., Xiaomi, and Samsung Electronics Co. Ltd.

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Fitness Tracker Market - Regional Assessment

The global fitness tracker market is classified into five regions, namely, North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.

North America is expected to be the dominant region in the global fitness tracker market owing to increased prevalence of chronic diseases in countries such as US and Canada.

Also, the presence of leading market players in these countries is expected to contribute to the growth of the fitness tracker market, in North America.

Europe is anticipated to offer lucrative growth opportunities for the global fitness tracker market because of growing acceptance for smart gadgets among different population sections in countries such as Germany and UK.

Asia Pacific is expected to witness strong growth in the global fitness tracker market owing to increasing demand for fitness tracker products among the youthful population in countries such as India.

Other regions of the world such as Latin America and Middle East and Africa are expected to witness moderate growth in the global fitness tracker market, in future.

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