APAC Fitness Trackers Market

APAC Fitness Trackers Market (2022 to 2027)

The fitness trackers market in the Asia-Pacific region was valued at USD 9.03 billion in 2021. The market is anticipated to be growing at a CAGR of 22.28% from 2022 to 2027 and worth USD 30.21 billion by 2027.

The market in the Asia Pacific is growing significantly owing to factors such as the increasing geriatric population and a growing tendency to improve diagnostic and healthcare services. In addition, the rising number of people with diabetes and asthma, and the growing usage of smartphones and laptops are promoting the fitness trackers market in this region. These devices are becoming popular across this region due to increasing awareness of the availability of different products. Rising standards of living are another favorable factor to the market growth. Wireless technology also plays a vital role as these devices can easily connect to smartphones and laptops via Bluetooth, accelerating market growth.

Rising awareness over the availability of different devices to measure fitness-related activities among individuals is another key factor boosting the fitness tracker market in the Asia-Pacific region. These devices are highly accurate and convenient to use, and some of the wearable devices, such as smartwatches and others, do not disturb our daily activity, promoting the market growth. In addition, increasing focus on investments by government and non-government organizations is elevating the demand for this market in the Asia Pacific. Furthermore, the rise in the utilization of smartphones and laptops is propelling the market's growth rate.

However, rapid changes in economic strategies are slowly hindering the demand of the market. The rise in the prices of these devices due to increasing production costs remains a challenging factor for the market. The absence of skilled labor in manufacturing specific designs is also restraining the growth rate of the fitness trackers market in the Asia Pacific. Lack of standardization is limiting the demand of the market. Growing data theft issues while connecting to external devices quietly inhibit the market's growth in the Asia Pacific.

Implementing different schemes and policies by the government in favor of the end-users is merely to set growth opportunities for the market. The IT sector plays a vital role in launching different applications with live data monitoring, easy accessibility, and creating a chance for the fitness trackers market in the Asia Pacific. Furthermore, the emergence of e-commerce and the easy availability of any electronic device in online stores are likely to boost the demand in the fitness trackers market. Constant economic growth is also leveraging the growth rate of the APAC fitness trackers market.

This research report has been segmented & sub-segmented into the following categories:

• By Product Type: Activity Monitors, Smart Watches and Smart Clothing
• By Wearing Type: Handwear, Legwear, and Headwear
• By Application: Heart rate tracking, Sleep measurement, Glucose measurement, and Sports, Running, Cycling Tracking
• By End-users: Sports, Hospitals and diagnosis centers, and Others
• By Age Group: Adult Fitness Tracker and Children's Fitness Tracker
• By Sales Channel: Online and Offline
• By Country: India, China, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore, and the Rest of APAC

In the Asia Pacific, China is one of the promising regional markets in APAC and is anticipated to showcase a healthy CAGR during the forecast period owing to the rise in the production rate of various innovative devices with the latest technology. 'In addition, consumers' interest in checking heart rate, sleep time, the number of calories burnt, and other measurements are likely to bolster the market's growth in this country. Also, rising investments in developing innovative devices by both government and non-government bodies are elevating the market's growth rate.

The fitness trackers market in India is growing at a notable CAGR owing to maintaining constant economic growth over the past few years.

Other countries such as Japan, Singapore, and Malaysia will showcase healthy growth rates during the forecast period. In addition, the rising popularity of fitness trackers through digital advertisements and the launch of various devices in favor of the end-users are boosting the market's growth rate.

Companies such as Fitbit, Inc., Apple Inc., Adidas AG, Xiaomi Inc., Samsung Electronics Co. Ltd., Nike Inc., Moov Inc., Lumo Bodytech Inc., and Jawbone play a leading role in the APAC fitness trackers market.