Wearables fitness trackers are becoming more popular for variety of health reasons. Wearable technology is a new trend that blends electronics into everyday activities and fits into people's changing lives which can be worn on any part of the body. Smart wearable gadgets track the movements and activities of a group of people who are travelling throughout the world. Several application areas have begun to accept these devices, indicating that the wearable devices market will continue to rise in the near future. These wearable fitness trackers have quickly established themselves as a significant player in the consumer electronics sector and are seen as a novel way to meet the needs of a variety of businesses. Moreover the wearable fitness trackers manufacturers are progressing rapidly driven by advances in sensors, semiconductors, and AI. For example, some smartwatches now have optical sensors that use a method called photoplethysmography (PPG) to continually measure variations in blood volume and composition. Data from these sensors is used by algorithms created and improved through machine learning to provide insights about users' activity levels, stress, cardiac pattern anomalies, and more. Thus with these advances and increased awareness about health amongst huge populations is driving the wearable fitness trackers market globally.
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One of the most difficult obstacles in avoiding the Covid-19 virus transmission was the ability to promptly identify, track and isolate cases before they may spread the virus to others. Wearable devices were considered as a reliable source to detect the mild symptoms of Covid-19. During the pandemic people began to spend more time at home, many began to use wearable devices to track their health and seek medical help which led to an increased demand for wearable. The epidemic has emphasized the need of wearable devices in health monitoring. Smartwatches that measure blood oxygen saturation (SpO2) became widely available as COVID-19 spread, warning patients with low SpO2, a life-threatening sign that is difficult to diagnose without assistance. Thus during Covid-19, the demand for wearable fitness trackers market has soared globally.
Vendors are constantly improving their wearable fitness tracker products in order to compete in today's technology-driven global market. For example, Apple Inc. and Nokia, a provider of information and communication technology, collaborated in May 2017. Nokia supplies network infrastructure goods and services to Apple as part of the collaboration agreement. Fitbit teamed up with the Minnesota Timberwolves, an American professional basketball team headquartered in Minnesota, in June 2017. Fitbit is an "Official Wearable" and "Official Sleep Tracker" for Minnesota Timberwolves players as part of this agreement. Samsung announced a partnership with Under Armour, a leading maker of sports, casual apparel, shoes, and other accessories, in March 2017 to support the "Under Armour Connected Fitness suite," which includes a variety of fitness apps. Thus, the overall wearable fitness trackers market is being boosted by increased awareness of wearable fitness trackers in sports and their rising use by athletes.
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Our 420+ pages research study on Global Wearable Fitness Trackers Market will include extensive information on the following pointers:
- Global Market size and forecast values (2015 – 2029), in terms of revenue (US$ Million) by segments/sub-segments; wherein 2015 to 2019 has been considered as historic years, 2020 as the base year, while 2021 to 2029 has been considered as the forecast period.
- Split of the market revenue (US$ Million) into all the relevant segments & sub-segments across all major regions/countries.
- Technological Trends
- Macro-Economic and Micro-Economic Indicators
- Market determinants and Influencing Factors
- Market Dynamics (Drivers, Restraints, Opportunities and Challenges)
- Global and Regional Impact of Covid-19 on Global Wearable Fitness Trackers Market
- Porter’s Five Forces Analysis
- Competitive Benchmarking: Global Presence and Growth Strategies
- Mergers and Acquisitions
- R&D Initiatives
- Product Launches
- Investments Trends
- Market Share Analysis, 2020
- Detailed insights of major market participants operating in the market, including information on company details, company overview, product offerings, key developments, financial analysis, SWOT analysis and business strategies.
- We have reports available in different languages including German, Russian, Korean, French, Chinese, Arabic, Spanish, Japanese and other languages.
- We offer the feasibility of customizing the reports specific to regions which will cover exclusive insights on regions and its respective countries (namely North America, Europe, Asia Pacific, Middle East & Africa, Latin America)
Key Findings of the Report:
- Wearable technology usage has more than tripled in the previous four years, driven by customers' growing desire to track their own health. Smartwatches, which were once solely used to track steps and tell time, have evolved into clinically useful healthcare aids. Smartwatches have gained quiet popularity in the last few years as the demand for aesthetically appealing technological products to better suit users' expectations, such as time schedules and numerous capabilities in one device, is increasing as urbanization rates rise. Furthermore, advanced technologies are being incorporated in smartwatches, for instance, most smartwatches are meant to be coupled with smartphones (through Bluetooth), which serves as information gateways for sharing phone notifications such as heart rate, sugar levels and other health application alerts. Wearable fitness tracker producers like Apple and Fitbit are introducing health-monitoring capabilities that appeal to older people and keep them updated on their health condition in real-time, smartwatches are seeing a spike in new users, including the elderly.
- Health and fitness awareness is also rising amongst the younger generation lately. Obesity and heart disease are becoming increasingly widespread among children around the world. Thus the introduction of wearable fitness trackers for children is completely working in a different direction allowing children to keep actively tracking their health while also being tech savvy. Moreover the features such as calorie tracking, footsteps, heartbeat tracking is proving to be motivation for children to stay fit and healthy.
- In the last two decades, there has been an increased awareness among huge population regarding fitness and health. Heart rate monitoring has been considered as one of the important aspect to monitor health. Therefore smartwatches and smartrings are in a huge demand to constantly monitor the heart rate. These devices sense blood flow near the wrist and illuminate it with LEDs, fitness bands, can determine the heart rate. Moreover major players in the market are looking forward to incorporate advanced technologies such as artificial intelligence and cloud technologies to keep a track of health and report the abnormalities directly to the doctors. Thus, rising awareness is one of the driving factors boosting the global wearable fitness trackers market globally.
- Online platforms are gaining huge popularity amongst the millennial population due to easier access and convenience to choose from a wide range of products. Majority leading players in the market are choosing online platforms to reach larger audience and provide personalized marketing along with their services such as real time updates and offers for the products the customers choose. Wearable technological devices are gaining traction, and they are on the path to become an important element of the e-commerce businesses globally.
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Competitor Insights
The key market participants operating in the global wearable fitness trackers market are listed below:
- Apple Inc.
- Fitbit LLC.
- FOSSIL GROUP, INC.
- Garmin Ltd.
- Huawei Device Co., Ltd.
- Microsoft
- Nike, Inc
- ?ura Health Oy
- Pebble
- Polar Electro
- SAMSUNG
- TomTom International BV.
- Withings
- Xiaomi
- Zepp Health Corporation
- Other Market Participants
Global Wearable Fitness Trackers Market:
By Product
- Smartwatches
- Fitness Bands
- Rings
- Others
By Demography
- Kids
- Adults
By Compatibility
- iOS
- Android
- Windows
- Others
By Application
- Activity Tracking
- Heart Rate Monitoring
- Sleep Tracking
- Others
By Connectivity
- NFC
- Bluetooth
- Wi-Fi
- Others
By Sales Channel
- Online
- Offline
Region
- North America
- U.S
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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