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Global Fitness Tracker Market to reach USD 163.88 billion by the end of 2030

Global Fitness Tracker Market Size Study & Forecast, by Type (Smart Watches, Smart Bands, Smart Clothing, Others), by Distribution channel (Online, Offline), by Application (Heart Rate Tracking, Sleep Monitoring, Glucose Monitoring, Sports, Running Tracking, Cycling Tracking, Others), and Regional Analysis, 2023-2030

Product Code: OIRGSF-21672983
Publish Date: 20-10-2023
Page: 200

Global Fitness Tracker Market is valued at approximately USD 44.8 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 17.6% over the forecast period 2023-2030. A fitness tracker, also known as an activity tracker or fitness band, is a wearable device designed to monitor and track various health and fitness metrics of the wearer. These devices are typically worn on the wrist and come with sensors that can measure and record data related to physical activity, exercise, sleep patterns, and other health-related information. The primary purpose of fitness trackers is to help individuals stay informed about their daily activities, motivate them to maintain an active lifestyle and support their fitness goals. The increasing focus on health and fitness, the rising prevalence of chronic diseases such as obesity, diabetes and heart diseases, the expanding e-commerce sector, along with a robust presence of distributor networks, and retail partnerships of the industry players are the factors that are primarily attributing to the market growth during the estimated period.

The rising inclination toward the adoption of wearable technology is positively influencing market growth across the globe. Wearable technology, including fitness trackers, smartwatches, and other health-monitoring devices, has contributed to the increasing popularity of fitness trackers. Consumers are embracing the convenience and versatility of wearable devices that seamlessly integrate into their daily lives. According to Statista, the number of connected wearable devices worldwide was valued at 593 million in 2018, which is projected to reach 1,105 million devices by the end of 2022. Thus, these aforementioned factors are propelling the growth of the fitness tracker market during the estimated period. Moreover, the rising advancements in sensor technology, as well as the growing penetration of the internet and smartphone sector present various lucrative opportunities over the forecast years. However, the rising safety and privacy concerns and the lack of accuracy and reliability are challenging the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Fitness Tracker Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rise in awareness and adoption of fitness trackers and increasing focus on health and fitness. Additionally, the regional market growth is driven by an increase in health problems linked to sedentary lifestyles, the introduction of novel goods by major market participants, and the proliferation of smartphones and the internet in North America. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. The widespread use of fitness trackers among working-class people as a result of population increase, consistent economic growth, and technological improvements are the key factors contributing to market growth. Fitness trackers are gaining high traction because of a surge in fitness awareness among the population. The rise in the number of fitness enthusiasts, changes in the level of life, and an increase in the number of young people are the main factors propelling the growth of the fitness trackers market in the APAC region.

Major market players included in this report are:
Garmin Ltd.
Apple Inc
Fitbit, Inc.
Huawei Technologies Co., Ltd.
Pebble Technology Corp
Samsung Electronics Co Ltd
Google LLC
Xiaomi Technology Co., Ltd.
Nike Inc.

Recent Developments in the Market:
Ø In September 2022, Apple released Apple Watch Ultra featuring a distinctive design that ensures a comfortable fit for every excursion. A wide range of functions, such as exercises, backtracking, a fitness tracker, and other features are added to the watch.
Ø In March 2023, Garmin Singapore unveiled the Forerunner 265 series and Forerunner 965 smartwatches with vivid AMOLED screens. The watch provides innovative features to assist athletes in pushing the envelope by organising, preparing, and monitoring their exercise regimen.

Global Fitness Tracker Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Distribution channel, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Smart Watches
Smart Bands
Smart Clothing

By Distribution channel:

By Application:
Heart Rate Tracking
Sleep Monitoring
Glucose Monitoring
Running Tracking
Cycling Tracking

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Fitness Tracker Market, by Region, 2020-2030 (USD Billion)
1.2.2. Fitness Tracker Market, by Type, 2020-2030 (USD Billion)
1.2.3. Fitness Tracker Market, by Distribution channel, 2020-2030 (USD Billion)
1.2.4. Fitness Tracker Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Fitness Tracker Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Fitness Tracker Market Dynamics
3.1. Fitness Tracker Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing prevalence of chronic diseases Rising inclination toward the adoption of a wearable technology
3.1.2. Market Challenges Rising safety and privacy concerns Lack of accuracy and reliability
3.1.3. Market Opportunities Rising advancements in sensor technology Growing penetration of internet and smartphones
Chapter 4. Global Fitness Tracker Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Fitness Tracker Market, by Type
5.1. Market Snapshot
5.2. Global Fitness Tracker Market by Type, Performance – Potential Analysis
5.3. Global Fitness Tracker Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Fitness Tracker Market, Sub Segment Analysis
5.4.1. Smart Watches
5.4.2. Smart Bands
5.4.3. Smart Clothing
5.4.4. Others
Chapter 6. Global Fitness Tracker Market, by Distribution channel
6.1. Market Snapshot
6.2. Global Fitness Tracker Market by Distribution channel, Performance – Potential Analysis
6.3. Global Fitness Tracker Market Estimates & Forecasts by Distribution channel 2020-2030 (USD Billion)
6.4. Fitness Tracker Market, Sub Segment Analysis
6.4.1. Online
6.4.2. Offline
Chapter 7. Global Fitness Tracker Market, by Application
7.1. Market Snapshot
7.2. Global Fitness Tracker Market by Application, Performance – Potential Analysis
7.3. Global Fitness Tracker Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
7.4. Fitness Tracker Market, Sub Segment Analysis
7.4.1. Heart Rate Tracking
7.4.2. Sleep Monitoring
7.4.3. Glucose Monitoring
7.4.4. Sports
7.4.5. Running Tracking
7.4.6. Cycling Tracking
7.4.7. Others
Chapter 8. Global Fitness Tracker Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Fitness Tracker Market, Regional Market Snapshot
8.4. North America Fitness Tracker Market
8.4.1. U.S. Fitness Tracker Market Type breakdown estimates & forecasts, 2020-2030 Distribution channel breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Fitness Tracker Market
8.5. Europe Fitness Tracker Market Snapshot
8.5.1. U.K. Fitness Tracker Market
8.5.2. Germany Fitness Tracker Market
8.5.3. France Fitness Tracker Market
8.5.4. Spain Fitness Tracker Market
8.5.5. Italy Fitness Tracker Market
8.5.6. Rest of Europe Fitness Tracker Market
8.6. Asia-Pacific Fitness Tracker Market Snapshot
8.6.1. China Fitness Tracker Market
8.6.2. India Fitness Tracker Market
8.6.3. Japan Fitness Tracker Market
8.6.4. Australia Fitness Tracker Market
8.6.5. South Korea Fitness Tracker Market
8.6.6. Rest of Asia Pacific Fitness Tracker Market
8.7. Latin America Fitness Tracker Market Snapshot
8.7.1. Brazil Fitness Tracker Market
8.7.2. Mexico Fitness Tracker Market
8.8. Middle East & Africa Fitness Tracker Market
8.8.1. Saudi Arabia Fitness Tracker Market
8.8.2. South Africa Fitness Tracker Market
8.8.3. Rest of Middle East & Africa Fitness Tracker Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Garmin Ltd. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Apple Inc
9.3.3. Fitbit, Inc.
9.3.4. Huawei Technologies Co., Ltd.
9.3.5. Pebble Technology Corp
9.3.6. Samsung Electronics Co Ltd
9.3.7. Google LLC
9.3.8. Xiaomi Technology Co., Ltd.
9.3.9. Jawbone
9.3.10. Nike Inc.
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

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Data Collection:
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Market driving trends and favorable economic conditions
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