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Pulished Date October, 2021
ID: 12317
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Smart Band Market Segmentation by Application (Heart Rate Tracking, Sleep Measurement, Glucose Measurement, Sports, Running, and Cycling Tracks); By Distribution Channel (Online and Offline); By Compatibility (Android, iOS, Windows, Tizen, and Others) - Demand Analysis & Opportunity Outlook 2026

Pulished: October, 2021
ID: 12317
Pages: 175

Smart Band Market Size, Trends & Growth (2021 - 2026)

In 2020, the global smart band market was valued at approximately $36.34 billion. By 2026, the market is expected to grow at a CAGR of 21%, reaching $114.36 billion.

Consumers have incorporated smart bands into their daily lives as internet availability has improved, and the Internet of Things (IoT) has developed. Furthermore, smart band prices have dropped in recent years, making them more accessible to the general public.

In 2020, the global smart band market had a volume of 49.9 million units, with 62.8 million units predicted by 2026.

A smart band is a multipurpose device that aids in the monitoring of a person's everyday activities. For example, it tracks distance traveled when walking or jogging and calorie intake, heart rate, and sleep quality. For long-term data storage, smart bands are wirelessly connected to mobile phones, tablets, laptops, and personal PCs. 

Advancements in any market are reassuring in terms of maximizing market potential and value. Because of its widespread adoption and great scalability, the fitness monitoring market has a considerable market value. Technology is gradually gaining a foothold in people's workout regimens. Aside from advancement, technology's ability to provide convenience is unrivaled. In addition, there is a movement in customer awareness.

Recent Developments in Smart Band Market

With the debut of Amazon Halo View, Amazon enters the health and fitness device market. Halo View is a revolutionary health tracker with an AMOLED color display that allows you to see your health parameters at a glance.

Xiaomi's 11T series and Mi Pad 5 were unveiled in Europe yesterday, but they weren't the only highlights of the event. Xiaomi has released an NFC version of its famous fitness tracker for the first time outside of China.

Smart Band Market Drivers

Primarily owing to the increasing health concerns, people are encouraged towards a healthy diet and physical activities. In addition, Fitness trackers enable consumers to keep track of their workouts, resulting in a surge in demand for fitness monitoring devices. Furthermore, by 2026, key economic variables such as rising per capita healthcare expenditure, building healthcare infrastructure, and increasing investment in the industry sector to extend innovative technologies are predicted to accelerate the global market's growth rate. Therefore, rising health awareness is expected to propel the market forward.

People are at a higher risk of getting obesity, lack of sleep, diabetes, and other ailments due to the deskbound lifestyles associated with modern living. People have been urged to begin daily exercise to maintain their health and avoid various health ailments due to frantic work schedules and developing health issues. Smart bracelets with stress and SpO2 monitoring features help people keep on top of their health and avoid serious illnesses. As a result, smart band sales among working professionals are on the rise.

Restraints

The information obtained by fitness tracking devices is primarily personal, including the user's weight, birth date, photographs, GPS coordinates, social data, heart rate, steps, and background data. However, the most considerable risk, aside from highly personal data, is data theft. As a result, the person's privacy may be violated, potentially harming them.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 – 2026

Base Year

2020

Forecast Period

2021 - 2026

CAGR

21%

Segments Covered

By Application, Type and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

  • Apple
  • Huawei
  • Samsung
  • Fitbit
  • Garmin
  • Adidas AG
  • Jawbone
  • Razer
  • Nike
  • Google
  • Realme
  • BoAt

Smart Band Market Segmentation

By Application: 

  • Heart Rate Tracking
  • Sleep Measurement
  • Glucose Measurement
  • Sports
  • Running
  • Cycling Tracks

The market is categorized into Heart Rate Tracking, Sleep Measurement, Glucose Measurement, Sports, Running, and Cycling Tracks.

In 2020, the running segment dominated the smart band market, followed by the sports segment. The rise in awareness of trackers in sports and their increasing acceptance by athletes is fueling the overall market expansion. In addition, due to rising cardiovascular disease resulting from changing lifestyles, the heart rate tracking industry is seeing substantial demand. The sleep and glucose measurement segment, on the other hand, is predicted to grow at a significant rate over the projection period.

Besides fundamental facts like their weight, gym-goers also want to know more about their progress, such as body fat percentage and sleep quality. As a result, technology is evolving from the standpoints of both customers and providers. For example, in 2018, Apple updated the Apple Watch Series 4 and incorporated an electrocardiogram (ECG) capability, allowing for a more detailed investigation of its users' heart health. As a result, wearable fitness technology is predicted to dominate the industry due to the confluence of healthcare and digital technologies.

By Distribution Channel: 

  • Online
  • Offline

The market is divided into two segments: Online and Offline. 

During the forecast period, online channels are likely to have a leading fitness tracker market share globally. The market's massive share is attributed to a rise in internet penetration and the widespread availability of these apps on smartphones, boosting the market's online distribution channel globally.

By Compatibility: 

  • Android
  • iOS
  • Windows
  • Tizen
  • Others

The market is augmented into Android, iOS, Windows, Tizen, and Others.

The Android devices occupy the largest market share because of their popularity. In addition, the Android OS is available on several machines and at affordable prices. Hence, the consumer base of Android is the largest in the world. Meanwhile, iOS is only available in devices manufactured by Apple. Hence, iOS-enabled smart bands are exclusively compatible with iPhones, iPads, and MacBooks. Furthermore, since Apple products and MacBooks are expensive, only consumers from higher-income groups purchase iOS-enabled smart bands. Therefore, the iOS market can generate more revenue than the Android market despite lower sale units.

Regional Analysis of Smart Band Market

In 2020, the global market for fitness trackers in North America was estimated to be worth USD 17.36 billion. This region's domination can be attributed to a greater awareness of health issues and an increase in chronic diseases.

Europe is anticipated to be the second largest region in terms of market revenue. The market for fitness monitoring goods is expected to rise due to rising technology usage, increased acceptability of smart gadgets, and many benefits of fitness monitoring equipment.

The market in the Asia Pacific is predicted to develop at a healthy rate because of the growing popularity of tracking devices among the younger generation. Japan, China, and India are significant market regions with the highest predicted growth rates. In India, 60% of the population is under the age of 35. As a result, it provides favorable conditions for the market to expand.

Other regions include Latin America, the Middle East, and Africa, have the smallest market share due to lower acceptance rates of fitness items and poor economies.

Market Leaders in Smart Band Market

The Chinese electronics company, Xiaomi, is the leader in the smart bands market with a market share of 19.6% and sales of 8 million in 2021, overtaking Apple Inc.

Smart Band Market Key Players

Pebble Technologies, the pioneer of smart bands, quit the market in 2016.

Impact of COVID-19 for Smart Band Market

The emergence of COVID-19 has positively impacted the sales of smart bands. COVID-19 raised health awareness, increasing sales of fitness trackers. Apple and Garmin, for example, have seen a 20 percent growth in revenue in 2020 compared to the previous fiscal year. While COVID-19 has impacted various enterprises, and the economy and customer demand remain unpredictable, manufacturers are producing new products and services to assist customers during this period. In addition, Fitbit is investing in R&D by collaborating with health industry heavyweights such as Apple, Stanford Medicine, and The Scripps Research Institute to investigate how data from wearables may be used to identify, track, and treat infectious diseases such as COVID-19

1. Introduction                            

          1.1 Market Definition                  

          1.2 Scope of the report               

          1.3 Study Assumptions               

          1.4 Base Currency, Base Year and Forecast Periods              

2. Research Methodology                      

          2.1 Analysis Design          

          2.2 Research Phases                   

                    2.2.1 Secondary Research 

                    2.2.2 Primary Research     

                    2.2.3 Data Modelling        

                    2.2.4 Expert Validation     

          2.3 Study Timeline            

3. Report Overview                     

          3.1 Executive Summary               

          3.2 Key Inferencees          

4. Market Dynamics                    

          4.1 Impact Analysis           

                    4.1.1 Drivers

                    4.1.2 Restaints       

                    4.1.3 Opportunities 

          4.2 Regulatory Environment                  

          4.3 Technology Timeline & Recent Trends                  

5. Competitor Benchmarking Analysis                        

          5.1 Key Player Benchmarking                 

                    5.1.1 Market share analysis         

                    5.1.2 Products/Service      

                    5.1.3 Regional Presence    

          5.2 Mergers & Acquistion Landscape               

          5.3 Joint Ventures & Collaborations                 

6. Market Segmentation                        

          6.1 Smart Band Market , By Application            

                    6.1.1 Heart Rate Tracking 

                    6.1.2 Sleep Measurement  

                    6.1.3 Glucose Measurement        

                    6.1.4 Sports 

                    6.1.5 Running         

                    6.1.6 Cycling Tracks         

                    6.1.7 Market Size Estimations & Forecasts (2021-2026)        

                    6.1.8 Y-o-Y Growth Rate Analysis         

                    6.1.9 Market Attractiveness Index         

          6.2 Smart Band Market , By Distribution Channel                 

                    6.2.1 Online 

                    6.2.2 Offline 

                    6.2.3 Market Size Estimations & Forecasts (2021-2026)        

                    6.2.4 Y-o-Y Growth Rate Analysis         

                    6.2.5 Market Attractiveness Index         

          6.3 Smart Band Market , By Compatibility                  

                    6.3.1 Android         

                    6.3.2 iOS      

                    6.3.3 Windows        

                    6.3.4 Tizen   

                    6.3.5 Others 

                    6.3.6 Market Size Estimations & Forecasts (2021-2026)        

                    6.3.7 Y-o-Y Growth Rate Analysis         

                    6.3.8 Market Attractiveness Index         

7. Geographical Landscape                    

          7.1 Global Smart Band Market , by Region                  

          7.2 North America - Market Analysis (2021 - 2026)             

                    7.2.1 By Country     

                              7.2.1.1 USA

                              7.2.1.2 Canada

                    7.2.2 By Application

                    7.2.3 By Distribution Channel     

                    7.2.4 By Compatibility      

          7.3 Europe             

                    7.3.1 By Country     

                              7.3.1.1 UK

                              7.3.1.2 France

                              7.3.1.3 Germany

                              7.3.1.4 Spain

                              7.3.1.5 Italy

                              7.3.1.6 Rest of Europe

                    7.3.2 By Application

                    7.3.3 By Distribution Channel     

                    7.3.4 By Compatibility      

          7.4 Asia Pacific                 

                    7.4.1 By Country     

                              7.4.1.1 China

                              7.4.1.2 India

                              7.4.1.3 Japan

                              7.4.1.4 South Korea

                              7.4.1.5 South East Asia

                              7.4.1.6 Australia & NZ

                              7.4.1.7 Rest of Asia-Pacific

                    7.4.2 By Application

                    7.4.3 By Distribution Channel     

                    7.4.4 By Compatibility      

          7.5 Latin America             

                    7.5.1 By Country     

                              7.5.1.1 Brazil

                              7.5.1.2 Argentina

                              7.5.1.3 Mexico

                              7.5.1.4 Rest of Latin America

                    7.5.2 By Application

                    7.5.3 By Distribution Channel     

                    7.5.4 By Compatibility      

          7.6 Middle East and Africa          

                    7.6.1 By Country     

                              7.6.1.1 Middle East

                              7.6.1.2 Africa

                    7.6.2 By Application

                    7.6.3 By Distribution Channel     

                    7.6.4 By Compatibility      

8. Key Player Analysis                           

          8.1 •Apple             

                    8.1.1 Business Description

                    8.1.2 Products/Service      

                    8.1.3 Financials      

                    8.1.4 SWOT Analysis         

                    8.1.5 Recent Developments         

                    8.1.6 Analyst Overview      

          8.2 Huawei             

          8.3 Samsung          

          8.4 Fitbit                

          8.5 Garmin             

          8.6 Adidas AG                  

          8.7 Jawbone           

          8.8 Razer               

          8.9 Nike                 

          8.10 Google           

          8.11 Realme           

          8.12 BoAt               

9. Market Outlook & Investment Opportunities                     

Appendix                         

          List of Tables          

          List of Figures                  

  • Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • The segment-level analysis in terms of by type, by application, by end-user, along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Smart Band  Market By Region, From 2021-2026 ( USD Billion )
  2. Global Smart Band  Market By Application, From 2021-2026 ( USD Billion )
  3. Global Heart Rate Tracking Market By Region, From 2021-2026 ( USD Billion )
  4. Global Sleep Measurement Market By Region, From 2021-2026 ( USD Billion )
  5. Global Glucose Measurement Market By Region, From 2021-2026 ( USD Billion )
  6. Global Sports Market By Region, From 2021-2026 ( USD Billion )
  7. Global Running Market By Region, From 2021-2026 ( USD Billion )
  8. Global Cycling Tracks Market By Region, From 2021-2026 ( USD Billion )
  9. Global Smart Band  Market By Distribution Channel, From 2021-2026 ( USD Billion )
  10. Global Online Market By Region, From 2021-2026 ( USD Billion )
  11. Global Offline Market By Region, From 2021-2026 ( USD Billion )
  12. Global Smart Band  Market By Compatibility, From 2021-2026 ( USD Billion )
  13. Global Android Market By Region, From 2021-2026 ( USD Billion )
  14. Global iOS Market By Region, From 2021-2026 ( USD Billion )
  15. Global Windows Market By Region, From 2021-2026 ( USD Billion )
  16. Global Tizen Market By Region, From 2021-2026 ( USD Billion )
  17. Global Others Market By Region, From 2021-2026 ( USD Billion )

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