Latin American Fitness Trackers Market

The Latin American Fitness Trackers Market is projected to witness a CAGR of 20.5% during the forecast period.

Rise in the disposable income in both developed and developing countries in Latin America is the major driving factor for the market to grow. Growing incidences of cardiovascular problems and other diseases are also impacting the demand of the market towards positive. The increasing popularity of various fitness trackers through campaigns and digital advertisements is propelling the growth rate of the fitness trackers market in Latin America. Growing prevalence for the development of innovative products is enhancing the demand of the market. The rising number of fitness enthusiasts is leveraging the growth of the market. Fitness trackers can easily be connected with smartphones and laptops via wireless technology is also expanding the demand for the fitness trackers market in Latin America.

However, less knowledge over the new devices and their features in undeveloped countries are slowly hindering the demand of the market. Increasing prices of the devices due to fluctuation in the production rate remains as a challenging factor for the market developers. Stringent rules and regulations by the government is also another factor to limit the growth rate of the market. Less availability of skilled labor to manufacture the latest design devices with advanced technology is impacting negatively on the growth of the fitness trackers market in Latin America.

Growth opportunities for the market lie in the adoption of the latest technologies and implementing the latest ideas in manufacturing different devices. Rise in the disposable income in urban areas is additionally escalating the growth rate of the fitness trackers market in Latin America. Growing focus on the development of innovative products in concern towards people’s health is lavishing the demand of this market. Furthermore, increasing investments to introduce highly advanced devices by both private and public companies is greatly influencing the demand of the market in Latin America.

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 center and Others
• By Age Group: Adult's Fitness Tracker and Children’s Fitness Tracker
• By Sales Channel: Online and Offline
• By Country: Mexico, Brazil, Argentina, Chile, Peru and Rest of Latin America.

In Latin America, Brazil is holding the highest shares of the market where Argentina is expected to grow at a CAGR of 22.4% during the foremost time span. Increasing the economy from the past few years and rise in the demand to improve the features of fitness trackers are major factors for the market to grow in Brazil. Along with this, increasing concern towards healthcare among many individuals is anticipated to present growth opportunities for the market. Fitness trackers are very accurate and can also calculate a person’s heart rate so that a physician can monitor regularly. This is enhancing the growth rate of the market in Argentina. Mexico is deemed to have significant growth opportunities in foreseen years with the increasing support from the IT sector and also a rise in the popularity of fitness trackers due to increasing fitness enthusiasts. 

Notable companies leading the LATAM Fitness Trackers Market profiled in this report are Fitbit, Inc., Apple Inc., Adidas AG, Xiaomi Inc., Samsung Electronics Co. Ltd., Nike Inc., Moov Inc., Lumo Bodytech Inc. and Jawbone.