August 04, 2022 05:05 ET | Source: Growth Plus Reports Growth Plus Reports
Udaipur, INDIA
Pune, Aug. 04, 2022 (GLOBE NEWSWIRE) — The Global fitness trackers market is expected to clock ~US$ 159.74 billion by 2030, owing to increased health consciousness amongst the population and growing healthcare expenditure, states Growth Plus Reports.
Growth Drivers
The global fitness trackers market is growing significantly because of the increased health consciousness amongst the general population and also the surge in participation in sports activities. The addition of fitness tracker features in smartwatches has increased its demand tremendously over the years. Furthermore, rising per capital healthcare expenditure, rising investment in cutting-edge technology by many key players such as advancements in the materials used in the production of fitness trackers to improve product performance; and improved healthcare infrastructure are expected to boost the global fitness trackers market.
The global fitness trackers market has been analyzed from four different perspectives – Type, Application, Distribution Channel, and Region.
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Report Scope & Segmentation:
Excerpts from ‘By Type Segmentation’
Based on type, the global fitness trackers market has been divided into:
It has been analyzed that the smartwatch segment is dominating the fitness tracker market because of its many benefits such as offering crucial health metrics and disease-related information. This information helps medical professionals overcome obstacles like figuring out how a new treatment would affect a patient or continuously tracking a patient’s recovery after surgery. On the other hand, smart clothing and smart glasses are anticipated to show moderate growth in the forecast period. Although these devices have highly advanced techniques to sense the heartbeat, pulse rate, etc, their adoption is relatively low as compared to smartwatches. Whereas, the fitness bands segment has grown over the years because of the low cost of these devices and continuous development in the features.
Excerpts from ‘By Region Segmentation’
The global fitness trackers market has been segmented into:
With the increasing prevalence of chronic diseases in countries such as the United States and Canada, North America is expected to become the dominant region in the global fitness trackers market. The presence of major market players in these countries is also expected to contribute to the growth of the North American fitness trackers market.
As smart devices become accepted by diverse demographics in Western Europe, Europe is expected to offer favorable growth opportunities for the global fitness trackers market.
In the Asia Pacific region, the global fitness trackers market is expected to grow strongly as demand for fitness trackers products increases among the younger population in countries such as India. Also, a rise in disposable incomes and e-commerce penetration is responsible for market growth.
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Excerpts from ‘Competitive Landscape’
The prominent players operating in the global fitness trackers market are:
Table of Content:
To be continued…
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