Fitness Tracker Market Size, Growth Opportunities, Revenue Share Analysis, and Forecast To 2030

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The global fitness tracker market size was USD 41.60 Billion in 2021 and is expected to register a revenue CAGR of 18.4% over the forecast period, according to the latest report by Emergen Research.

The global fitness tracker market size was USD 41.60 Billion in 2021 and is expected to register a revenue CAGR of 18.4% over the forecast period, according to the latest report by Emergen Research. Rising health awareness among consumers along with rise in disposable income, and increasing prevalence of chronic diseases are some key factors expected to drive revenue growth of the market during the forecast period.The COVID-19 pandemic has led to a rise in health awareness among consumers along with rise in the cost of healthcare, and this resulted in deployment of various initiatives to prevent chronic diseases.

The latest research report expounds on the profound impact of the COVID-19 pandemic on the global Fitness Tracker market and its crucial segments. The report thoroughly examines the vital market-influencing factors and considers the COVID-19 pandemic as a major contributing element to this business vertical’s potential downturn. As per industry analysts, the Fitness Tracker industry is currently reeling from the pandemic’s gripping effects, and remarkable changes have been observed in the market dynamics and demand trends over recent months.

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Key Market Competitors Profiled in the Report:

Google LLC, Apple, Inc., Fitbit, Inc. (Google LLC)., Garmin Ltd., Beienda, Inc., Ambiotex GmbH, Hexoskin, Huawei Technologies, Nurvv Ltd., Oura Health Ltd., and Withings.

Market Segmentation:-

Emergen Research has segmented the global fitness tracker market on the basis of device type, distribution channel, application, and region:

Device Type Outlook (Revenue, USD Billion; 2019-2030)

Smartwatches

Fitness Bands

Smart Glasses

Smart Clothing

Others

Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)

Online

Offline

Application Outlook (Revenue, USD Billion; 2019-2030)

Running

Cycling

Heart Rate Tracking

Stress Management

Others

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Some Key Highlights from the Report

On 16 September 2020, Apple Inc. announced Apple Watch Series 6, with a feature of tracking blood oxygen. Apple Watch Series 6 has improved hardware features, including a faster S6 System in Package (SiP) and next-generation altimeter.

Fitness bands segment accounted for a significantly large revenue share in 2021 owing to rising health awareness among consumers along with rise in disposable income. In addition, increasing government initiatives to promote healthy habits and reduce prevalence of chronic diseases is expected to support growth of this segment.

Online segment registered a significantly larger revenue share in 2021 owing to rapid growth of the e-Commerce industry and rising influence of social media platforms and participants leading to increased popularity of fitness trackers.

Stress management segment is expected to register rapid revenue growth during the forecast period due to an increase in stress and stress-related diseases. According to data, almost 180,000 people in the U.K die each year from stress-related illnesses. Similarly, American Psychological Association estimates that more than three-quarters of adults suffer from stress related issues such as headaches, tiredness, or sleeping problems. This is expected to increase demand for stress management features in smartwatches.

Key Questions Answered by the Report:

What is the outcome of SWOT analysis and Porter’s Five Forces analysis?

How is the competitive landscape of the Fitness Tracker market?

Who are the key players in the industry?

What is the growth rate of the industry over the coming years?

What will be the valuation of the Fitness Tracker Market by 2030?

Regional Segmentation

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

In conclusion, the report provides a qualitative and quantitative analysis of the Global Fitness Tracker market, including the global and regional analysis of the market. The study covers critical information and factual data about the Fitness Tracker industry, along with an in-depth statistical analysis of the market drivers, limitations, growth prospects, opportunities, and threats. On the basis of the current market scope, the report provides an extensive analysis of how the Fitness Tracker market is expected to fare in the forecast timeline. The report utilizes advanced analytical tools to offer an estimation of the outlook of the global state of the Fitness Tracker industry.

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