Fitness tracker is a utility device used to monitor and record fitness related activities such as distance walked, steps taken, heartbeat, and sleep duration. Fitness trackers are offered in the form of leg wear wrist wear, ear wear, eye wear, and others. These devices can be connected to computers or any smartphone through the wireless connectivity mode. Fitbit Versa, Garmin Vivosmart 4, Fitbit Charge 3, Garmin Vivosport, and Samsung Gear Fit2 Pro are some of the preferred fitness trackers available in the market which are majorly used by outdoor athletes.
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The growing trend of using fitness tracking devices, increasing awareness about various health related issues such as obesity, and rising demand for continuous and wireless health monitoring devices are major factors expecting to positively influence the market demand for fitness trackers over the forecast period. Furthermore, increasing benefits of fitness trackers and popularity of smart gadgets coupled with rising adoption of technology is also projected to boost the market growth in the coming years. Other factors spurring the demand for fitness trackers include growing health awareness coupled with increasing standard of living which are also contributing to the growth of the market. These trackers also include interactive operating systems and high-end activity tracking systems, further contributing to the market growth. However, data theft risk and high cost of the product is anticipated to hamper the market growth over the forecast period. Nevertheless, rising trend of Internet of Things (IoT) ecosystem is expected to offer various growth opportunities to the fitness tracker market over the forecast period.
The global fitness tracker market can be segmented based on device type, display type, compatibility, application, distribution channel, and region. The device type segment is categorized into wrist-wear (smartwatch, fitness band, and others), smart garments and body sensors, leg-wear, and others. The others segment includes helmets, smart glasses, pendants, earphones, clips, brooches, etc. Smartwatches are expected to acquire the major share of the market in terms of revenue over the forecast period. Various features such as access to smartphones and live data monitoring are some of the factors expected to propel the growth of the fitness tracker market over the forecast period.
Based on display type, the fitness tracker market is segregated into colored display and monochrome display. Based on compatibility, the fitness tracker market is segmented into Android, iOS, Tizen, Windows, and others. The application segment is categorized into sleep measurement tracking, heart rate tracking, sports, glucose measurement tracking, cycling tracking, and running. The distribution channel is sub-divided into online and offline channel. Online distribution channel is expected to contribute majorly to the market in terms of revenue over the forecast period. The growth is attributed to the increasing sale of fitness trackers, and due to various benefits associated with online shopping such as attractive deals, faster shipping, and ease of shopping.
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Based on region, the fitness tracker market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The fitness tracker market in Asia Pacific is projected to witness significant growth over the forecast period. The growth is attributed to technology advancement in various countries coupled with increasing awareness about fitness with growth in the population rate. For instance, in China, customers are more conscious about fitness, and hence utilize the tracker as a part of their daily life. Furthermore, increasing number of fitness enthusiasts and changing living standards in the country has led to increasing demand for fitness trackers.
Prominent players operating in the global fitness tracker market are Fitbit Inc., Samsung, Xiaomi Inc., Adidas, Desay Infor Technology Co. Ltd, Jawbone, Nike, Misfit Inc., Apple, Inc., NJY Science and Technology Co. Ltd., Huawei Technologies Co., Ltd., Shenzhen Motto Electronics Co. Ltd., DO Intelligent Technology Co., Ltd., Google LLP, and Beienda Technology Co. Limited.
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