Pune, India, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The global fitness tracker market size was valued at USD 47.36 billion in 2022, and it is projected to grow from USD 53.94 billion in 2023 to USD 182.90 billion by 2030, exhibiting a CAGR of 19.1% during the forecast period.
Fitness trackers are mainly used among the general population to track physical and fitness activities, such as heart rate, steps covered, sleep duration, breathing, and calories burned and consumed. These devices are synced with a computer or a smartphone and can be used to monitor fitness and health-related parameters anytime and anywhere. The increasing adoption of fitness trackers among young people is expected to drive market growth during 2023-2030.
Fortune Business Insights™ mentioned this in a report titled, “Fitness Tracker Market, 2023-2030.”
Key Industry Development
June 2022 – Zepp Health Corporation, Ltd., has expanded its lineup of BIP U series smartwatch with the Amazfit BIP 3 series and BIP 3 pro smartwatch introduced in the U.S.
Request a Sample PDF: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/fitness-tracker-market-103358
Key Takeaways:
- PxLens, a smart eyewear solution from Proximie, is simple to pair with the Proximie mobile app. For telepresence, it can also be connected with Proximie's cloud platform.
- The FDA-approved ECG App1 app for the Venu 2 Plus smartwatch was released by Garmin Ltd. It assisted users in monitoring their cardiac rhythm and regularly looking for indications of atrial fibrillation (AFib).
- Google LLC, a multinational American corporation with a concentration on artificial intelligence, internet advertising, search engine technology, and other areas, bought Fitbit, Inc., an American consumer electronics and fitness firm.
- With built-in GPS, active zone minutes, Spotify, sleep tools, Fitbit Pay, and other features, Fitbit unveiled Fitbit Charge 4, its most sophisticated health and fitness tracker to date.
Discover the Leading Players Featured in the Report:
Garmin Ltd. (U.S.), Apple Inc. (U.S.), Fitbit, Inc. (U.S.), Huawei Technologies Co., Ltd. (China), Pebble Technology Corp (U.S.), Samsung Electronics Co., Ltd. (South Korea), Google Inc. (U.S.), Xiaomi Technology Co., Ltd. (China), Polar Electro (U.S.), Nike, Inc. (U.S.)
Report Scope
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 19.1% |
| 2030 Value Projection | USD 19.1 Billion |
| Base Year | 2022 |
| Market Size in 2023 | USD 53.94 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 150 |
Browse Complete Report Details: https://www.fortunebusinessinsights.com/fitness-tracker-market-103358
Drivers & Restraints
Rising Prevalence of Health Disorders to Boost Market Growth
The uncontrolled work timetables and increasing health issues have urged the population to commence daily exercise to avoid numerous health conditions, which is estimated to boost market growth during the forecast period. The growing awareness regarding the prominence of healthy living will also raise the requisite activities that drive the market expansion. The better flexibility of the fitness trackers helps prevent major health conditions and drive market growth.
The data collected by fitness monitoring devices is mostly personal, which raises concerns regarding data safety and privacy and may hamper the market growth during the projected period.
Segments:
Growing Launch of Technologically Advanced Fitness Devices to Aid Smartwatches Segment Growth
By device type, the market is segmented into smartwatches, fitness bands, smart glasses, smart clothing, and others. The smartwatches segment dominated the market in 2022. The growth was attributed to the rising launch of technologically advanced fitness devices by major market players across developing countries globally.
Running Segment Led in 2022 Due to Increasing Awareness Regarding the Trackers
On the basis of application, the market is segmented into heart rate tracking, sleep measurement, glucose measurement, sports, running, and cycling tracks. The running segment led the market in 2022 due to increasing awareness regarding the trackers in running activities.
Rising Internet Penetration to Boost Online Segment Growth
By distribution channel, the market is classified into online, retail, and others. The online segment is estimated to have a dominant fitness tracker market share during the projected period. The segment’s growth is attributed to the rising penetration of the internet and the easy availability of these apps on smartphones globally.
Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Quick Buy - Fitness Tracker Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/103358
By Device Type
- Smart Watches
- Fitness Band
- Smart Glasses
- Smart Clothing
- Others
By Application
- Heart Rate Tracking
- Sleep Measurement
- Glucose Measurement
- Sports
- Running
- Cycling Tracking
By Distribution Channel
- Online
- Retail
- Others
By Geography
- North America (By Device Type, Application, Distribution Channel, and Country)
- Europe (By Device Type, Application, Distribution Channel, and Country)
- U.K. (By Device Type)
- Germany (By Device Type)
- France (By Device Type)
- Italy (By Device Type)
- Spain (By Device Type)
- Scandinavia (By Device Type)
- Rest of Europe (By Device Type)
- Asia Pacific (By Device Type, Application, Distribution Channel. and Country)
- Latin America (By Device Type, Application, Distribution Channel, and Country)
- The Middle East & Africa (By Device Type, Application, Distribution Channel, and Country)
Report Coverage-
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- The latest industry developments include product launches, partnerships, mergers, and acquisitions.
Regional Insights
Rising Concerns Related to Health Issues and Chronic Diseases to Aid Market Growth in North America
The fitness tracker market size stood at USD 22.48 billion in 2022. The growth was attributed to the increasing concerns related to health and rising chronic diseases in the North American region.
Europe stood at the second-largest position in terms of revenue. The increasing acceptance of smart gadgets, rising adoption of advanced technologies, and growing benefits of fitness monitoring devices are estimated to drive market growth in the region.
Competitive Landscape
Increasing Key Players Focus on Launching Advanced Innovative Products
The market comprises major market players, including Apple Inc., Samsung Electronics Co. Ltd., Xiaomi Technology Co. Ltd., and Huawei Technologies Co. Ltd. The increasing focus of these key players on offering advanced innovative products that include functionalities and novel features to grow their sales channels globally is estimated to drive market growth during the forecast period.
FAQ’s
How big is the Fitness Tracker Market?
Fitness Tracker Market size was USD 53.94 Billion in 2023.
How fast is the Fitness Tracker Market growing?
The Fitness Tracker Market will exhibit a CAGR of 19.1% during the forecast period, 2023-2030
Related Reports:
Smartwatch Market Share, Size, Trends and Forecast 2023-2030
Wearable Camera Market Size, Share| Global Forecast Report 2029
Smart Glass Market Trends, Growth | Global Forecast Report 2030
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
9th Floor, Icon Tower,
Baner - Mahalunge Road,
Baner, Pune-411045,
Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Attachment
