Fitness trackers

Fitness tracker market size is expected to reach a valuation of approximately $62,128 million by 2023 – AMR Report

Fitness Tracker Market 2017-2023

The report segments the global fitness tracker market on the basis of device type, display type, sales channel, compatibility, and geography.

The increase in consumers’ propensity to use technology in daily life to make life easier, due to the increase in health problems, is increasing the preference for fitness trackers.

—Biswa Sinha

5933 NE WIN SIVERS DRIVE, PORTLAND, OR, USA, September 16, 2022 /EINPresswire.com/ — According to a new report released by Allied Market Research titled, fitness tracker market By Device Type, Display Type, Sales Channel and Compatibility: Global Opportunity Analysis and Industry Forecast, 2017-2023, “The report provides a detailed analysis of the main investment pockets, the most winning, drivers and opportunities, market size and estimates, competitive landscape and changing market trends.

The global fitness trackers market size was valued at USD 17,907 Million in 2016 and is projected to reach USD 62,128 Million by 2023, registering a CAGR of 19.6% from 2017 to 2023. North America led the global fitness tracker market in 2016, accounting for one-third share of total revenue.

Fitness trackers are utility devices that record and measure data related to fitness activities such as walking and running distance, heart rate monitoring, sleep pattern tracking, etc. Rising fitness awareness among consumers and rapidly increasing per capita disposable income are expected to drive the demand for fitness trackers.

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The surge in the adoption of fitness trackers in fitness centers is expected to drive the growth of the fitness trackers market over the forecast period. Rising online sales of fitness trackers is one of the major factors propelling the growth of the market, owing to the fact that this channel makes the products readily available for consumers across different regions. As a result, the offline sales platform provides a tangible demonstration of the product, which helps increase product promotion and awareness.

The smartwatch segment dominates the fitness tracker market, in terms of value, due to the increase in consumer preference for smartwatches, due to its benefits such as smartphone notification monitoring, customizable user interface and activity tracking features.

The iOS segment in the global fitness tracker market is growing exponentially as fitness trackers with iOS have unique applications and user interference which has increased the sales of iOS powered devices. As a result, the Android wearables segment is expected to show significant growth over the forecast period owing to the dominant presence of Android phones.

The online sales segment is expected to increase the sales of fitness staplers, due to some of the notable benefits of online shopping for consumers, such as attractive offers, ease of shopping, and faster shipping.

North America and Europe collectively accounted for approximately more than half of the global fitness tracker market share in 2016. Changing lifestyles and increasing consumer disposable income are expected to drive the growth of the market Asia Pacific.

The major players in the fitness tracker market are focusing on developing new products to gain a strong foothold in the market. Key players profiled in the report include Fitbit Inc., Google LLP., Apple Inc., Samsung, Xiaomi Inc., Jawbone, Nike, Adidas, Misfit Wearables, Inc., Shenzhen Motto Electronics Co. Ltd., Google LLP, and Apple . Inc.

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Key Findings of the Fitness Trackers Market:

○ In terms of value, the smartwatch segment is expected to grow at a CAGR of 20.3% during the forecast period.
○ North America is expected to dominate, registering the highest CAGR of 18.9% in terms of value.
○ Asia-Pacific is expected to show exponential growth in demand throughout 2023, with a CAGR of 21.2% in terms of value.
○ The color display segment is expected to dominate the global fitness tracker market, registering a CAGR of 19.9%.
○ The online platform segment is estimated to account for more than half of the total market share in 2016.
○ China and Japan collectively accounted for more than half of the total Asia-Pacific fitness tracker market in 2016.
○ In the global fitness tracker market, India is expected to grow at a CAGR of 15.5%, in terms of value.

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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

Pawan Kumar, CEO of Allied Market Research, leads the organization in delivering high quality data and insights. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.

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