Global Mobile Sensing Fitness Market Forecasts to 2024 and Analysis
Mobile sensing fitness components are used in fitness and health devices to measure parameters such as heartbeat rate, muscle activity, 3D motion sensing, and hydration or bio-impedance levels. Rapid developments in sensing technologies is enabling regular health monitoring and is helping create fitness records for its end-users. This helps reduce medical expenditure, encourages fitness, and provides enhanced results. Consumers are consistently monitoring their health, owing to increase in health consciousness. Other factors such as aging population, frequent occurrence of diseases, and increasing healthcare costs are also expected to drive the mobile sensing fitness market demand.
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Growing consumer demand for these devices has encouraged manufacturers to develop multi-function gadgets with smartphone connectivity, notifications, and alerts. Increase in R&D efforts, & venture capital funding’s, coupled with several ongoing innovations which are being offered by the mobile/IT industry are expected to drive the mobile sensing fitness market growth. Increasing acceptance of fitness applications and technological developments such as Bluetooth radios with mobile sensors are anticipated to positively impact the industry growth. These devices allow the connection between low power wireless wearable devices, internet, and sensor-infused smartphones. Combining multiple devices into one to monitor multiple activities using one device is the ongoing trend in the mobile sensing fitness market which will provide ample of growth opportunities to the manufacturers.
Lack of standardization and unregulated usage of fitness and health devices is anticipated to cause hindrance to mobile sensing fitness market growth. Furthermore, these devices are not capable of accurately diagnosing the illness of a patient and might pose as a threat to user’s health. In addition, high service & maintenance expenses and interoperability issues are expected to restrict mobile sensing fitness market growth.
The mobile sensing fitness market is segmented based on products and advanced mobile connectivity. Based on product types, the market is segmented into smart watches, activity trackers, speed, cadence, and heart rate monitors. With the launch of new applications such as, wristbands, hand-wear and fitness belts the smart watches segment is expected to show a considerable growth over the coming years. The segment is showing progress owing to the innovations and is attracting several potential entrepreneurs to this industry. Leading industry players such as Apple, Maritime, Samsung, and Sony are relying on R&D investments to help maximize their respective market shares.
Based on advanced connectivity solutions, the devices are classified into Bluetooth smart & Bluetooth classic, low power components, ANT sensor alliance, near field communications (NFC), Wi-Fi, and Body LAN. The Bluetooth smart has connected infinite wireless wearable sensors to the internet and sensor infused smartphones which are providing application developers new markets opportunities. These opportunities are expected to grow at an astonishing pace with shipments of the devices which are supporting fitness and sports mobile apps at a rising speed of 10X over the coming years thereby driving the mobile sensing fitness market demand.
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North America is expected to dominate the mobile sensing fitness market, owing to the high adoption rate of enhanced fitness technology. The region is witnessing growing awareness among its consumers owing to improved health care facilities and focus on prevention of diseases pertaining to lack of fitness. The fitness apps are gaining popularity from its consumers as they are helping create a healthy competition amongst its users through functionalities such as progress dashboards and sharing the workout results on social networking websites.
In Asia Pacific, the mobile sensing fitness market is expected to grow at fast rate, due to increasing awareness for health among consumers and rising disposable incomes. Economies in the region such as South Korea, India, China, and Japan are expected to exhibit high growth potential over the forecast timeframe. The mobile sensing fitness market manufacturers are increasingly setting their base in the region, as the government administrations are helping provide the manufacturers cost-effective labor and other incentives.
Some of key mobile sensing fitness market participants include Motorola, Adidas, LG, Fitbit, Google, Garmin, Apple, Microsoft, Samsung, Polar, and Nike. The market players are focusing on enhancing consumer experience by increasing R&D investments and are participating in new product developments to strengthen their position in the mobile sensing fitness market. For instance, in October 2016, Fitbit validated its usefulness by announcing the establishment of new research library, the Fitabase Research Library which consolidates every trial and research study into one place.
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