Wearable Fitness Trackers Market

Wearable Fitness Trackers Market Size & Growth (2022 – 2027)

The Global Wearable Fitness Trackers Market has been valued at US$ 39.54 Billion in 2021 and it is expected to reach the high market capital of US$ 123.35 Billion by 2027. During this forecast period it is anticipated to grow with the healthy CAGR of 16.2% over 2022-2027.

Global Wearable Fitness Trackers Market Overview:

A wearable fitness tracker is an electronic gadget that a user may link to their smartphone or the internet to track their fitness statistics over time and share it with other fitness enthusiasts. Several activity trackers are included in a wearable fitness tracker depending on the user's needs. Goal setting, sleep tracking, exercise tracking, calorie tracking, heart monitoring, and step counting are just a few of the capabilities that these trackers offer. Additionally, a significant factor in the growth of the wearable fitness trackers market is the industry share of fitness watches. Additionally, the global market for fitness trackers is expanding due to its rapid expansion. The finest fitness trackers available are those that have a blood oxygen sensor, an automated handwashing detection feature, and other features that motivate users to be more active, remain connected, and manage their health in innovative ways.

Global Wearable Fitness Trackers Market Drivers & Restraints:

Drivers:

The rising demand for fitness app devices and growing inclination for online shopping are projected to be the main factors impacting the growth of the Global Wearable Fitness Trackers Market. Additionally, a rising trend in wearable technology is anticipated to fuel market expansion. In the upcoming years, the global market for wearable fitness trackers is expected to be driven by the older population's increased inclination for checking their health condition on a regular basis. Another factor that will probably fuel the expansion of the global wearable fitness trackers market in the future years is the increase in healthcare spending brought on by rising disposable income.

Numerous of these gadgets come with extremely interactive capabilities. Along with these capabilities, the inclusion of sophisticated monitoring systems in these gadgets is significantly increasing growth in the wearable fitness trackers market globally in the near future. Another trend driving the expansion of this market is the rising tendency for Internet of Things (IoT)-based system development. Additionally, the older population and the diseases associated with that age group continue to have a high need for wireless health monitoring devices. Diabetes, for instance, necessitates a continuous monitoring system, which is projected to increase demand for wearable fitness trackers globally.

Restraints:

The global marketplace for wearable fitness trackers is severely constrained by the danger of knowledge privacy. Additionally, the business for wearable fitness trackers is anticipated to learn from the growing trend of building IoT ecosystems. Some tools don't deliver the accurate results you wish. Competition participants in sports and fitness-related events have the flexibility to tamper with the equipment. after you figure out while taking note of music, the battery life decreases more quickly. The more feature-rich fitness trackers are pricier. It may well be uncomfortable to wear the whole day while working.

Recent Developments in Global Wearable Fitness Trackers Market:

The Realme Techlife Watch R100, a new wearable from Realme Techlife, a sub-brand of Realme India, has been launched. This has a SPO2 sensor, Bluetooth calling functionality, and other features. One of the most stylish and feature-rich fitness trackers available is the Realme Techlife Watch R100. This revolutionary smartwatch is a testament to Realme's "Dare to Leap" mentality, which we believe in challenging and changing the status quo.

REPORT COVERAGE:

Global Wearable Fitness Trackers Market Segmentation:

By Device Type:

• Smart Watches.
• Fitness Bands.
• Smart Glasses.
• Smart Clothing.

Smart Watches is expected to have the dominant share in the Global Wearable Fitness Trackers Market During the Forecast Period. A smartwatch typically offers the same fitness tracking features as a fitness tracker, including heart rate sensors and built-in GPS for more precise health tracking, as well as coaching and customised workout tracking, which are features that only the most sophisticated fitness trackers have. The more sophisticated smart functions found in smartwatches include music management, integrated Bluetooth (to pair with wireless headphones), built-in microphones for calls and voice assistants, and NFC for mobile payments. They can run completely independently from a smartphone thanks to the fact that they are also available in cellular models. Again, some of the more sophisticated fitness trackers may have some of these clever features and skills, but generally speaking, the majority of fitness trackers are somewhat less adaptable.

By Connectivity:

• Bluetooth.
• Wi-Fi.
• Cellular.
• NFC.

Bluetooth Connectivity Segment is expected to have the dominant share in the Global Wearable Fitness Trackers Market During the Forecast Period. Many Wearable Fitness Trackers use Bluetooth to connect to your smartphone and sync with it so that the data is more easily accessible. The majority of fitness trackers merely communicate the tracked data to your phone or computer using the Bluetooth connection rather than really tracking data. Some fitness trackers also utilise Bluetooth so that you may work out while listening to music with wireless headphones.

By Operating System:

• Android.
• iOS.
• Windows.
• Tizen.

iOS Operating System Segment is expected to have the prominent share in the Global Wearable Fitness Trackers Market During the Forecast Period. Although wearable fitness trackers have many valuable capabilities, if all you need is the bare essentials, you can track those things on your phone instead of wearing and charging a separate gadget. It is included in both the Google Fit app for Android phones and the Apple Health app for iPhones. Low-power movement sensors found in contemporary cell phones make this possible. Because of this, only the iPhone 5s is capable of having this capability; earlier, newer iPhone models will not. If you carry an iPhone with you, it can monitor your movements and count the steps you take, the distance you walk or run, and the number of stairs you climb.

By Application:

• Running.
• Cycling.
• Heart Rate Tracking.
• Stress Management.

Heart Rate Tracking Segment is expected to have the prominent share in the Global Wearable Fitness Trackers Market During the Forecast Period. The chest band that comes with earlier models of fitness trackers tracked your body's electrical signals to determine your heart rate. Although they were designed to be worn during physical exercise rather than throughout the day, these gadgets didn't function on persons who had metal implants because they interfered with the signals. Modern fitness trackers are often worn on the wrist and use a technique called photoplethysmography to assess heart rate (PPG). Simply said, the sensors can "see" your heart rate thanks to this optical technology, which analyses how light entering the body scatters as it moves about the body. LEDs on the tracker's back emit light waves that penetrate your skin. A photodetector, another piece of technology included inside the watch, collects light that reflects off the wearer's wrist and converts it into data that the device's algorithms can use to calculate your heart rate.

Global Wearable Fitness Trackers Market Regional Analysis:

• North America is expected to have the dominant share in the Global Wearable Fitness Trackers Market During the Forecast Period. During the forecast period, rising health concerns, rising disposable income, and expanding participation in sports are anticipated to support the growth of the North American wearable fitness tracker market. In industrialised nations like the U.S. and Canada in the North America region, health problems including obesity, diabetes, cancer, blood pressure, and other maladies like body aches, asthma, and the like are on the rise quickly. The market for wearable fitness trackers in North America is being driven by the ability of end users to track their fitness metrics and analyse & record their activities, calories burned, heart rate, etc.
• Asia-Pacific.
• Europe.
• Latin America.

Key Players in Global Wearable Fitness Trackers Market:

• Apple Inc.
• Fossil Group, Inc.
• Garmin Ltd.
• Huawei Technologies Co., Ltd. (Huawei)
• NIKE, Inc.
• Samsung Electronics
• Sensoria Inc.
• TomTom N.V.
• Xiaomi Corporation