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Wearable Devices in Sports Market Research Report - Segmentation By Device Type (Fitness & Heart Rate Monitors, Smart Clothing, GPS Trackers, Others), Site (Headband, Handheld, Arm & Wrist, Shoe Sensor, Others), Distribution Channel (Independent Retail Store, Hypermarket/Supermarket, Brand Store, Online Sales Channel), and Region – Industry Forecast 2022-2027

Published: April, 2022
ID: 12986
Pages: 150

Wearable Devices in Sports Market Size (2022 – 2027)

The Global Wearable Devices in Sports Market was worth US$ 79.94 billion in 2021 and is anticipated to reach the valuation of US$ 102.20 billion by 2027 and is predicted to register a CAGR of 15.98% during 2022-2027.

Wearable devices have remained an important part of the sports industry, assisting athletes in sticking to daily routines and providing vital information on the parameters they are programmed to control. The necessity for wearable devices in the sports business has been sustained by the integration of analytics tools for better evaluating and analysing this data in order to improve performance or manage overall personal fitness.

Wearable devices in sports are used to track a player's physical fitness. Wearable gadgets in sports are a collection of different goods that are intended to aid users. Wearable devices are designed to aid athletes in their use of technology. Wearable gadgets use Internet of Things (IoT), Bluetooth, and Wi-Fi to offer data on an individual's overall performance. Wearable technologies are becoming more popular as a result of their dependability and ease of use in monitoring fitness. These gadgets are being modified with simple attachments to carry the user's weight, as well as improved user clothing stability.

In the sports industry, wearable gadgets are goods that use technology to deliver information such as step count, calorie burning, running distance, and other metrics. Because of the rise in health consciousness, products utilized in sports such as smart watches, smart cameras, pedometers, and shot trackers have gained a lot of popularity in recent years. These devices provide real-time data for tracking daily activities. In recent years, fitness trackers and smart watches have gained a lot of interest among wearable devices. New technologies, including as smart watches, fitness trackers, and Bluetooth-enabled cameras, have opened up new growth opportunities for the market. Manufacturers have opted for materials and design innovations in addition to smart devices. Consumers are increasingly looking for cost-effective solutions for wearable gadgets in sports, in addition to lightweight, water resistance, and durability.

MARKET DRIVERS

The expansion of the wearables sports devices market size can be ascribed to rising demand, as well as the spread and applicability of enhanced communications protocols and sensor downsizing.

Because of their compressed or compact size and superior integration technologies, sensors and wearable devices can be integrated into a variety of accessories such as wristwear, clothing, shoes, and eyeglasses. The introduction of major companies, portable and comfortable usage, increased healthcare awareness, rising production costs, and technical advancements are all aspects driving the wearable devices market in sports. Wearable technologies have become more popular as a result of these crucial factors. Customers favour wearable devices such as activity trackers, smartwatches, and smart clothes because of its multiple benefits, including portability and the most recent and advanced technological breakthroughs.

The global wearable devices in sports market growth can also be attributed to the widespread availability of wearable devices in sports on a variety of platforms ranging from modern trade to online sales channels. Furthermore, the rise of wearable devices in the sports industry is aided by increased retail sales penetration. Availability of sporting devices on e-commerce platforms, on the other hand, provides consumers with the convenience of purchasing goods without any physical limits.

MARKET RESTRAINTS

During the projection period of 2022-2027, limited battery life and high initial cost are expected to be the key restraints for the growth of global wearable devices in the sports industry. However, concerns about data privacy are also a hurdle for the wearable devices sector in sports.

On rare occasions, some wearables have been reported to measure data incorrectly. When measuring data such as heart rates, this can be especially dangerous. This incorrect reading may cause overexertion and subsequent health problems for people with cardiac disease. This makes people hesitant in purchasing wearable devices and hinders the global wearable devices in sports market growth.

Market Segmentation

Global Wearable Devices in Sports Market - By Device Type:

  • Fitness & Heart Rate Monitors
  • Smart Clothing
  • GPS Trackers
  • Others

For the forecast period 2022-2027, Fitness & Heart Rate Monitors are expected to dominate the market. This can be attributed to the various features in offers to athletes. Heart rate, calorie consumption, sleep, and blood pressure are just a few of the characteristics that may be controlled and monitored in fitness and sports wearable devices. Users can monitor health-related information on their smart wearables easily.

Global Wearable Devices in Sports Market - By Site:

  • Headband
  • Handheld
  • Arm & Wrist
  • Shoe Sensor
  • Others

For the forecast period, 2022-2027, arm & wrist devices are anticipated to dominate the sector. This is because they are much easier to carry and convenient to wear. One can wear it while doing any kind of activity like bathing, walking, eating, etc. They are small and compact and look as an addition to the complete outfit.

Global Wearable Devices in Sports Market - By Distribution Channel:

  • Independent Retail Store
  • Hypermarket/Supermarket
  • Brand Store
  • Online Sales Channel

Brand store or brand online website is expected to witness the highest sales. People generally prefer to buy such devices from renowned brands as it gives them a sense of quality and trust. As these devices track health parameters, accuracy is a very important factor and thus people prefer to choose top quality brands.

Global Wearable Devices in Sports Market – By Region:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East & Africa

Over the period 2022-2027, because of the growing popularity of professional athletes, the software category in North America is predicted to increase at the fastest rate over the forecast period of 2021 to 2028. The use of sports technology in North America, particularly in the United States, is being driven by the penetration of internet and cloud technologies, the growth of professional leagues, and the digitalization of sports. Wearables are already widespread in soccer culture in the United States. For many years, US Soccer athletes have worn them while playing. Companies in the GPS tracking arena, such as STAT Sports and Catapult Sports, have benefited immensely from these trends.

Because of rising smartphone penetration, China is the most dominant country in the Asia-Pacific market and in the software area.

Because of the advantages of wearable electronics, Germany's software segment is dominating the European market.

Key Players

  1. Adidas
  2. Nike
  3. Under Armor Inc.
  4. Apple
  5. Garmin Ltd.
  6. Zepp Labs, Inc.
  7. Catapult Sports Pty Ltd
  8. StretchSense
  9. Misfit Inc.
  10. Alphabet Inc.
  11. Qualcomm Technologies, Inc.

Recent Developments in the Global Wearable Devices in Sports Market:

  • Kinexon, a maker of wearable technology, has secured $130 million in a Series A round to expand its automated innovations in both its industrial and sports sectors, which already include performance tracking and data analytics.Following the sale of 1 million Oura rings, the smartring company revealed that it has raised $2.55 billion in funding. Research and development, product and science innovation, and personalised and guided content will all benefit from the additional financing.

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 Wearable Devices in Sports Market , By Device Type                

                                6.1.1 Fitness & Heart Rate Monitors       

                                6.1.2 Smart Clothing      

                                6.1.3 GPS Trackers          

                                6.1.4 Others      

                                6.1.5 Market Size Estimations & Forecasts (2022-2027)   

                                6.1.6 Y-o-Y Growth Rate Analysis              

                                6.1.7 Market Attractiveness Index           

                6.2 Wearable Devices in Sports Market , By Site                 

                                6.2.1 Headband

                                6.2.2 Handheld

                                6.2.3 Arm & Wrist           

                                6.2.4 Shoe Sensor           

                                6.2.5 Others      

                                6.2.6 Market Size Estimations & Forecasts (2022-2027)   

                                6.2.7 Y-o-Y Growth Rate Analysis              

                                6.2.8 Market Attractiveness Index           

                6.3 Wearable Devices in Sports Market , By Distribution Channel               

                                6.3.1 Independent Retail Store  

                                6.3.2 Hypermarket/Supermarket             

                                6.3.3 Brand Store            

                                6.3.4 Online Sales Channel          

                                6.3.5 Market Size Estimations & Forecasts (2022-2027)   

                                6.3.6 Y-o-Y Growth Rate Analysis              

                                6.3.7 Market Attractiveness Index           

7. Geographical Landscape                                         

                7.1 Global Wearable Devices in Sports Market , by Region                            

                7.2 North America - Market Analysis (2022-2027)                              

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Device Type      

                                7.2.3 By Site      

                                7.2.4 By Distribution Channel     

                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 Device Type      

                                7.3.3 By Site      

                                7.3.4 By Distribution Channel     

                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 Device Type      

                                7.4.3 By Site      

                                7.4.4 By Distribution Channel     

                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 Device Type      

                                7.5.3 By Site      

                                7.5.4 By Distribution Channel     

                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 Device Type      

                                7.6.3 By Site      

                                7.6.4 By Distribution Channel     

8. Key Player Analysis                                    

                8.1 Adidas                          

                                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 Nike                              

                8.3 Under Armor Inc.                     

                8.4 Apple                            

                8.5 Garmin Ltd.                

                8.6 Zepp Labs, Inc.                          

                8.7 Catapult Sports Pty Ltd                          

                8.8 StretchSense                             

                8.9 Misfit Inc.                    

                8.10 Alphabet Inc.                           

                8.11 Qualcomm Technologies, Inc.                          

9. Market Outlook & Investment Opportunities                                 

Appendix                                           

                List of Tables                     

                List of Figures                   

  1. Global Wearable Devices in Sports  Market By Region, From 2022-2027 ( USD Billion )
  2. Global Wearable Devices in Sports  Market By Device Type , From 2022-2027 ( USD Billion )
  3. Global Fitness & Heart Rate Monitors Market By Region, From 2022-2027 ( USD Billion )
  4. Global Smart Clothing Market By Region, From 2022-2027 ( USD Billion )
  5. Global GPS Trackers  Market By Region, From 2022-2027 ( USD Billion )
  6. Global Others Market By Region, From 2022-2027 ( USD Billion )
  7. Global Wearable Devices in Sports  Market By Site, From 2022-2027 ( USD Billion )
  8. Global Headband Market By Region, From 2022-2027 ( USD Billion )
  9. Global Handheld Market By Region, From 2022-2027 ( USD Billion )
  10. Global Arm & Wrist Market By Region, From 2022-2027 ( USD Billion )
  11. Global Shoe Sensor  Market By Region, From 2022-2027 ( USD Billion )
  12. Global Others Market By Region, From 2022-2027 ( USD Billion )
  13. Global Wearable Devices in Sports  Market By Distribution Channel , From 2022-2027 ( USD Billion )
  14. Global Independent Retail Store Market By Region, From 2022-2027 ( USD Billion )
  15. Global Hypermarket/Supermarket Market By Region, From 2022-2027 ( USD Billion )
  16. Global Brand Store  Market By Region, From 2022-2027 ( USD Billion )
  17. Global Online Sales Channel Market By Region, From 2022-2027 ( USD Billion )
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