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Fitness Tracker Market Forecast 2024-2033 - Major Trends, Segments And Fastest Growing Regions | Fitbit Inc., Apple Inc., Garmin Ltd., Google LLC, Huawei Technologies Co. Ltd., NIKE Inc.
Fitness Tracker Global Market Report 2024
The fitness tracker market size is expected to see rapid growth in the next few years. It will grow to $116.48 billion in 2028 at a compound annual growth rate (CAGR) of 19.2%. The growth in the forecast period can be attributed to sleep tracking and wellness, senior and elderly fitness, pediatric fitness trackers, ecosystem integration, mental health monitoring. Major trends in the forecast period include wearable ecg and health tracking, remote health monitoring, ai and data analytics, customization and personalization, emphasis on fashion and design.
Market Overview -
A fitness tracker refers to a device that uses sensors to track orientation, movement, and rotation. The device collects data and converts it into steps, calories, sleep quality, and overall activity performed by the wearer during the day.
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Rising Health Disorders Spur Growth In The Fitness Tracker Market
The increase in the incidence of health disorders is expected to propel the growth of the fitness tracker market going forward. A health disorder refers to a condition that has known physical causes and visible psychopathology. With a fitness tracker, there will be physical activity every day, which helps in preventing various health disorders. For instance, in September 2022, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, there were 41 million deaths, which is 74% of those caused by non-communicable diseases (NCDs) or chronic diseases every year globally. There were 17.9 million deaths from cardiovascular diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths from diabetes. Therefore, the increasing incidence of health disorders is driving the growth of the fitness tracker market.
Competitive Landscape -
Major companies operating in the fitness tracker market include Fitbit Inc., Apple Inc., Garmin Ltd., Google LLC, Huawei Technologies Co. Ltd., NIKE Inc., Samsung Electronics Co. Ltd., Xiaomi Inc., Adidas Inc., Jawbone, Polar Electro Oy, Beienda International Co. Limited, Ambiotex GmbH, Hexoskin, Fossil Group Inc., TomTom N.V., Huawei Technologies Co. Ltd., TomTom International BV, Misfit Inc., Moov Inc., Lumo Bodytech Inc., Atlas Wearables Inc., Basis Science Inc., Bragi GmbH, Casio Computer Co. Ltd., Catapult Sports Pty Ltd., Coros Wearables Inc., Epson America Inc., Jaybird LLC, LG Electronics Inc., LifeBEAM Technologies Ltd., Motorola Mobility LLC, Pebble Technology Corp., Razer Inc., Sony Corporation, Timex Group USA Inc., Under Armour Inc.
Technological Innovations Elevate The Fitness Tracker Market
Technological advancement is a key trend gaining popularity in the fitness tracker market. Major companies operating in the fitness tracker market are engaging in technological advancements to sustain their position in the market. For instance, in April 2021, Fitbit, a US-based consumer electronics and fitness company that is operating in the fitness tracker market, launched Fitbit Luxe, a fashion-forward health and wellness tracker with fundamentals like heart and sleep tracking, breathing rate, stress management, and other such features. It added a touch of luxury with a stainless-steel case and color AMOLED display technology. It has a blood oxygen sensor and keeps track of stress with a daily stress score, sleep, heart rate, steps, active zone minutes, and 50-meter water resistance.
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Key Segments -
The fitness tracker market covered in this report is segmented -
1) By Device Type: Smart Watches, Fitness Band, Smart Glasses, Smart Clothing, Other Device Types
2) By Application: Heart Rate Tracking, Sleep Measurement, Glucose Measurement, Sports, Running, Cycling Tracking
3) By Distribution Channel: Online, Retail, Other Distribution Channel
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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