Global Fitness Tracker Market is Predictable to grow by 13.02% of CAGR During 2017-2023

Market Highlights
The key players in the global fitness tracker market include- Apple Inc. (U.S.), Fitbit (U.S.), Nike (U.S.), Misfit Wearable, Inc. (U.S.), Samsung (South Korea), Garmin (U.S.), Suunto (Europe), Jawbone (U.S.), Casio (Japan), Polar (Europe), Adidas (Germany), Xiaomi (China) and Nokia (Europe) among others.

The global fitness tracker market is highly competitive. Various established international brands, domestic brands and as well as new entrants form a competitive landscape. The key players are nonstop increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. The Fitness Tracker Market is highly competitive due to the presence of several large vendors. The competition among the vendors will intensify due to the increase in product extensions and various above-mentioned factors. The players in the fitness tracker market compete on the basis of the factors such as technology, features, design and compatibility. The vendors or the manufacturers are continuously coming up with new ideas and technologies to gain competitive advantage over their competitors.

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Regional Analysis
The global fitness tracker market is expected to grow significantly over the forecast period, 2017-2023. Academic segment of fitness tracker market globally drives the market majorly due to growing awareness about health. Fitness tracker encourage people to walk more. Its user-friendly feature increases convenience to carry it all the time.

The market is expected to have higher growth rate as compared to the previous years. It is due to the advancement in fitness tracker such as FitBit and Jawbone fitness tracker has the feature to track and share users progress with other people, so that user get encourage to exercise more with their friends.

The global fitness tracker market segmented into four main regions such as North America, Asia-Pacific, Europe and Rest of the World. North America region hold the largest share of the total fitness tracker market in terms of revenue. It is due to the presence of some leading fitness tracker providers in the region. Apple Inc. (U.S.), Fitbit (U.S.), Nike (U.S.), Misfit Wearable, Inc. (U.S.), Jawbone (U.S.) are some leading industry participants located in U.S. According to a survey report, Smartwatches segment continue to show remarkable growth in coming years in U.S. In 2016, Fitbit sold around 22,295 units of its smart fitness devices globally. Furthermore, considering to wearable devices North America sold 1.2 million units of smartwatches and 4.8 million units of health & fitness tracker in 2014. Many industry participants in North America like Apple Inc., FitBit and Jawbone are focused on technology innovation which is expected to grow the market in forecast period. These are the reasons why North-America accounted for the largest market share.

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Europe is expected to show an impressive raise in the growth of global for fitness tracker consumption due to increased use of fitness tracker in various fields.

Asia-Pacific region is expected to grow over the forecast period. Countries such as Japan, China and India contributes largely to the overall market share. The reason is attributed to the increasing demand of fitness tracker from China and India. As it is emerging region, people get aware of benefits of fitness tracker and different electronic gadgets. Chinese companies focused on launching low cost fitness tracker which increases its demand due to affordability. This drives the growth of fitness tracker market in Asia Pacific. Recently, in June 2017, Chinese tech giant Xiaomi has launched a new fitness tracker named Xiaomi Mi 2 band. It is a third-generation band combines the best features with less price.

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This release was published on openPR.