Press release
Market Dynamics to Escalate Demand for Mobile Sports and Fitness Ecosystems Throughout 2017 - 2025
The 21st century can truly be considered as the mobile Internet era. We all have several interconnected portable devices like laptops, smartphones, smart watches, and fitness trackers. Along with the push towards smaller and lighter gadgets, there has also been a trend towards leading a fitter lifestyle, both from the company as well as the customer’s side. A sedentary routine has given host to a number of health issues for people like obesity, high blood pressure, anxiety and even heart attacks.
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That is why there has been a marked increase in the mobile sports and fitness ecosystems market. These devices provide an easy way to monitor your daily activity level (or lack of it) and also measure several important things like your vital signs, step count or quality of sleep. They can be used as standalone devices or can also work in tandem with a smartphone. The global mobile sports and fitness ecosystems market is already worth billions of dollars and is anticipated to become even larger going forward.
Mobile Sports and Fitness Ecosystems Market Drivers
The mobile sports and fitness ecosystems market is mainly driven by the desire to lead a healthy lifestyle. Western countries are post-industrial societies with the majority working in the tertiary sector. A fast paced lifestyle coupled with the lack of time (or will) to exercise has led to several health issues like obesity, hypertension, and anxiety. Obesity in particular is a major issue in the U.S. which has one of the highest number of affected individuals. While mobile technology was prohibitively expensive a decade ago, low cost sensors, advancements in wireless tech and new kinds of materials used have made the prices of mobile and fitness devices reduce dramatically. This has also enabled manufacturers to target the fast growing Asia Pacific mobile sports and fitness ecosystem market. In addition to single purpose fitness trackers, manufacturers can also market smart watches as multi-function devices for a wide range of uses, increasing the overall size of the mobile sports and fitness ecosystem market.
Mobile Sports and Fitness Ecosystems Market Restraints
One of the biggest opportunities to sell mobile fitness devices can also become a potential threat to it – the smartphone. Most customers are unaware that their phones have almost all the same sensors as that of dedicated fitness trackers. If smartphones begin to be marketed as a lifestyle device, the dedicated mobile sports and fitness ecosystems market can face significant headwinds in the future. Another challenge could be a high price, especially in countries with a lower disposable income in Asia or Latin America. It can be quite challenging convincing customers to purchase an additional device to monitor their health when they don’t see the need for it or when their phones can serve the same purpose.
Mobile Sports and Fitness Ecosystems Market Key Regions
North America is the largest mobile sports and fitness ecosystem market, followed by the European Union. This is due to a sedentary lifestyle, aging population, and higher occurrence of obesity leading to various other issues like hypertension and diabetes. There is also a greater awareness of dedicated fitness trackers and smart mobile devices making it easy for manufacturers to sell their products. Asia Pacific is not a very big market for smart devices yet but is anticipated to grow very rapidly in the next decade or so. The main markets in Asia would be China, India, Hong Kong, Singapore, and South Korea as there would be greater awareness and acceptance of fitness devices in these countries. There are many diabetics in China and India and the latter has the dubious distinction of having the most diabetics of any country globally. This would also spur demand in the APAC mobile sports and fitness ecosystems market.
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Mobile Sports and Fitness Ecosystems Market Key Market Players
Some of the key companies involved in the mobile sports and fitness ecosystems market include Apple Inc., Samsung Electronics, Fitbit, Pebble, Sony, LG, Lenovo, Motorola, Microsoft, Jawbone, Under Armour, Nike, Withings, Garmin and many others.
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