The new report by Expert Market Research titled, ‘Global Fitness Tracker Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global fitness tracker market, assessing the market based on its segments like types, applications, distribution channels, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 35.13 Billion
- Forecast CAGR (2021-2026): 18.80%
- Forecast Market Size (2026): USD 98.75 Billion
The growth of the fitness tracker industry is being aided by the increasing health-consciousness among the growing young population. The rising inclination towards a healthy and active lifestyle owing to the growing prevalence of various health-related issues is also propelling the market for fitness tracker. As innovative displays such as organic light-emitting diode (OLED) and AMOLED, among others, are increasingly integrated into fitness trackers, their demand for outdoor activities is surging, which is driving the industry growth. Moreover, the increasing demand for affordable fitness trackers with advanced features among the growing middle-class population in emerging economies is providing further impetus to the market growth.
Industry Definition and Major Segments
A fitness tracker is an electronic device that tracks and monitor fitness-related activities such as walking, sleeping, and cycling, among others. It can usually be linked to devices such as smartphones to boost fitness-related activities. A fitness tracker aids in achieving fitness goals, due to which it is increasingly used by sportsperson and fitness enthusiasts.
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Based on types, the market is divided into:
The major applications segments of fitness tracker are:
On the basis of distribution channels, the market is bifurcated into:
The major regional markets of fitness tracker are:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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The market for fitness tracker is being aided by the advancements in sensor technology, which is surging the accuracy of health-related issues in fitness trackers. The increasing deployment of fitness trackers in the healthcare industry to provide meaningful insights regarding mental and physical wellbeing is expected to propel the market growth. In addition, the potential of fitness trackers to track emerging health-related issues for early diagnosis is predicted to aid the industry growth. The development of textile-based wearables with enhanced functionality is anticipated to significantly contribute to the market growth. Various research and development (R&D) activities to boost the cost-effectiveness of fitness trackers are estimated to strengthen the market growth in upcoming years.
Key Market Players
The major players in the market are Ambiotex GmbH, Apple Inc., Fitbit Inc., NURVV Ltd., and Garmin Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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