The global Fitness Tracker Market size is
expected to reach USD 138.7 billion by 2028, registering a CAGR of 18.9% over
the forecast period, according to a new report by Grand View Research, Inc.
Some of the factors contributing to the market growth are the rising awareness
regarding health & fitness, growing adoption of smartphones, availability
of the internet, and increasing consumer disposable incomes. Moreover, the rise
in cases of sedentary lifestyle-related health problems and the growing
prevalence of Cardiovascular Diseases (CVDs) and obesity are likely to boost
the product demand. For instance, in 2017, about 13% of the world’s adult
population was obese and around 39% was overweight. The growing awareness regarding
health, fitness, and wellness, specifically in the younger population with
higher disposable incomes, will drive the market.
Furthermore, the Covid-19 pandemic has led to an
increase in awareness regarding fitness & health resulting in a rise in the
adoption of fitness trackers. In addition, the market players introduced some
Covid-19-specific tracking indications to capture the growing market demand and
the changing consumer requirement. For instance, Fitbit Inc. launched Sense
with a SpO2 levels monitor, ECG monitor, and stress management features to meet
the growing demand. Wide distribution networks and retail tie-ups of the market
players enable the availability of the latest products worldwide. In addition,
the growing e-commerce sector and adoption of online channels further propel
the growth of the market.
Related Press Release@ Fitness Tracker Market Report
Fitness Tracker Market Report
Highlights
- The smartwatch segment dominated the market in 2020 as a result of
high demand for these devices owing to their features and functions, such
as health tracking and communication
- On the other hand, the fitness band segment is expected to register
the fastest CAGR over the forecast period due to the comparatively low
cost of these devices and the availability of advanced products with
features, such as stress and sleep monitoring
- In 2020, the online distribution channel segment held the highest
market share owing to the easier availability and accessibility
- North America dominated the market in 2020 accounting for the
maximum revenue share owing to constant product innovation by key
manufacturers, wide usage of smartphones and the internet, and higher
disposable income levels
- Asia Pacific is expected to be the fastest-growing regional market
over the forecast period owing to the rising product adoption, growing
awareness regarding fitness & health, rising consumer disposable
income, and growing penetration of e-commerce platforms
About Us:
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment