Global Wearable Fitness Technology Market Size, Trends & Growth Opportunity, By Product (Smartwatch, Wristband, Smartshoe, Smart Shirt, Headband, and Others), By Component (Display, Processor, Memory Chip, Power Management Components, Networking Components, User Interface Components, Sensors, Mechanical Components, and Others), By Technology (Computing Technologies, Display Technologies, Networking Technologies, Positioning Technologies, Sensor Technologies, and Speech Recognition Technologies),By Region and Forecast till 2027.
Global Wearable Fitness Technology Market
The global Wearable Fitness Technology market was valued at USD 45 billion in 2021 and it is expected to reach at USD 162 billion in 2027 at a CAGR of 17.5 % during forecast period 2022-2027.
Wearable Fitness Technology consist electronic products that have been designed to be worn by the person so that can keep a track of its heartbeat, footsteps, so that one can keep himself fit and fine and also give a real time information about the health of the overall body. This technology is used to monitor or record fitness related activities such as calories, heart rate, sleep, steps, and others.
Market Drivers
Rise in consumer preference towards smart gadgets is the key driving factor which is expected to boost the global wearable fitness technology market growth. Furthermore, rise in demand for wearable fitness and medical devices will positively contribute the market growth. Also, rise in awareness about fitness and increasing disposable income in developing economies will fuel the market growth during this forecast period. Moreover, continuous technological advancements will drive the market growth. For instance, in May 2020, Fitbit had launched its new wearable 4G-Enabled Smartwatch for children. It has safety tracking features with video calling, and voice calling options. Additionally, increase in demand for connected devices will raise the demand for wearable fitness technology in near future.
Market Restraints
However, power consumption and limited battery life of wearable devices is the major restraining factor which is expected to hinder the global wearable fitness technology market growth. Also, high initial cost and production cost will affect the market growth.
COVID-19 Impact
Outbreak of covid-19 significantly affect the semiconductor and electronic market.Due to shutdown of industry and lockdown imposed by government the production and supply chain is disrupted which negatively impact the growth of market.
Recent Development
Garmin International, Inc.,a marine electronics manufacturer, announced the Signature Series 3i marine speakers from Fusion® Entertainment.In 2022 - Garmin® International, announce the European Union Aviation Safety Agency (EASA) approval of the GFC™ 600H for AS350 helicopters, providing a cost-effective flight control solution that reduces pilot workload and improves mission effectiveness.
Market Segmentation
Global Wearable Fitness Technology Market is segmented into product such as Smartwatch, Wristband, Smartshoe, Smart Shirt, Headband, and Others, by component such as Display, Processor, Memory Chip, Power Management Components, Networking Components, User Interface Components, Sensors, Mechanical Components, and Others, by technology such as Computing Technologies, Display Technologies, Networking Technologies, Positioning Technologies, Sensor Technologies, and Speech Recognition Technologies. Further, market is segmented into activity tracking such as Calories, Steps, Sleep, Heart Rate, and Others.
Also, Global Wearable Fitness Technology Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Fitbit Inc., Apple Inc., Xiaomi Technology Co. Ltd., Garmin Ltd., Samsung Electronics Co. Ltd., Adidas AG, LG Electronics Inc., Nike Inc., Qualcomm Inc, and Sony Corp.
Market Taxonomy
By Product
- Smartwatch
- Wristband
- Smartshoe
- Smart Shirt
- Headband
- Others
- Display
- Processor
- Memory Chip
- Power Management Components
- Networking Components
- User Interface Components
- Sensors
- Mechanical Components
- Others
- Computing Technologies
- Display Technologies
- Networking Technologies
- Positioning Technologies
- Sensor Technologies
- Speech Recognition Technologies
- Calories
- Steps
- Sleep
- Heart Rate
- Others
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
- What are the Key Opportunities in Global Wearable Fitness Technology Market?
- What will be the growth rate from 2022 to 2027?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the competitive Landscape in the Industry?
- What is the role of key players in the value chain?
- What are the strategies adopted by key players?
- 1 Introduction
- 1.1 Objective of the Study
- 1.2 Market definition
- 1.3 Market Scope
- 2 Research Methodology
- 2.1 Data Mining
- 2.2 Validation
- 2.3 Primary Interviews
- 2.4 List of Data Sources
- 3 Executive Summary
- 4 Global Wearable Fitness Technology Market Outlook
- 4.1 Overview
- 4.2 Market Dynamics
- 4.2.1 Drivers
- 4.2.2 Restraints
- 4.2.3 Opportunities
- 4.3 Porters Five Force Model
- 4.4 Value Chain Analysis
- 5 Global Wearable Fitness Technology Market, By Product
- 5.1 Y-o-Y Growth Comparison, By Product
- 5.2 Global Wearable Fitness Technology Market Share Analysis, By Product
- 5.3 Global Wearable Fitness Technology Market Size and Forecast, By Product
- 5.3.1 Smartwatch
- 5.3.2Wristwatch
- 5.3.3.Smartshoe
- 5.3.4. Smart Shirt
- 5.3.5. Headband
- 5.3.6. Others
- 6 Global Wearable Fitness Technology Market, By Component
- 6.1 Y-o-Y Growth Comparison, By Component
- 6.2 Global Wearable Fitness Technology Market Share Analysis, By Component
- 6.3 Global Wearable Fitness Technology Market Size and Forecast, By Component
- 6.3.1 Display
- 6.3.2 Processor
- 6.3.3. Memory Chip
- 6.3.4. Power Management Components
- 6.3.5. Networking Components
- 6.3.6. User interface Components
- 6.3.7. Sensors
- 6.3.8. Mechanical Components
- 6.3.9. Others
- 7 Global Wearable Fitness Technology Market, By Technology
- 7.1 Y-o-Y Growth Comparison, By Technology
- 7.2 Global Wearable Fitness Technology Market Share Analysis, By Technology
- 7.3 Global Wearable Fitness Technology Market Size and Forecast, By Technology
- 7.3.1 Computing Technologies
- 7.3.2. Display Technologies
- 7.3.3. Positioning Technologies
- 7.3.4. Sensor Technologies
- 7.3.5. Speech Recognition Technologies
- 8 Global Wearable Fitness Technology Market, By Activity Tracking
- 8.1 Y-o-Y Growth Comparison, By Activity Tracking
- 8.2 Global Wearable Fitness Technology Market Share Analysis, By Activity Tracking
- 8.3 Global Wearable Fitness Technology Market Size and Forecast, By Activity Tracking
- 8.3.1 Calories
- 8.3.2 Steps
- 8.3.3 Sleep
- 8.3.4. Heart Rate
- 8.3.5. Others
- 9Global Wearable Fitness Technology Market, By Region
- 9.1 Global Wearable Fitness Technology Market Share Analysis, By Region
- 9.2 Global Wearable Fitness Technology Market Share Analysis, By Region
- 9.3 Global Wearable Fitness Technology Market Size and Forecast, By Region
- 10 North America Wearable Fitness Technology Analysis and Forecast (2022 – 2027)
- 10.1 Introduction
- 10.2 North America Wearable Fitness Technology Product Market Share Analysis, By Product
- 10.3 North America Wearable Fitness Technology Product Market Size and Forecast, By Component
- 10.4 North America Wearable Fitness Technology Product Market Size and Forecast, By Technology
- 10.5 North America Wearable Fitness Technology Product Market Size and Forecast, By Activity Tracking
- 10.6 North America Wearable Fitness Technology Product Market Size and Forecast, By Country
- 10.6.1 U.S.
- 10.6.2 Canada
- 10.6.3 Mexico
- 11Europe Wearable Fitness Technology Market Analysis and Forecast (2022 – 2027)
- 11.1 Introduction
- 11.2 Europe Wearable Fitness Technology Product Market Share Analysis, By Product
- 11.3 Europe Wearable Fitness Technology Product Market Size and Forecast, By Component
- 11.4 Europe Wearable Fitness Technology Product Market Size and Forecast, By Technology
- 11.5 Europe Wearable Fitness Technology Product Market Size and Forecast, By Activity Tracking
- 11.6 Europe Wearable Fitness Technology Product Market Size and Forecast, By Country
- 11.6.1 Germany
- 11.6.2 France
- 11.6.3 UK
- 11.64. Rest of Europe
- 12Asia Pacific Wearable Fitness Technology Market Analysis and Forecast (2022 – 2027)
- 12.1 Introduction
- 12.2 Asia Pacific Wearable Fitness Technology Product Market Share Analysis, By Product
- 12.3 Asia Pacific Wearable Fitness Technology Product Market Size and Forecast, By Component
- 12.4 Asia Pacific Wearable Fitness Technology Product Market Size and Forecast, By Technology
- 12.5 Asia Pacific Wearable Fitness Technology Product Market Size and Forecast, By Activity Tracking
- 12.6 Asia Pacific Wearable Fitness Technology Product Market Size and Forecast, By Country
- 12.6.1 China
- 12.6.2 Japan
- 12.6.3 India
- 12.6.4. Rest of Asia Pacific
- 13Latin America Wearable Fitness Technology Market Analysis and Forecast (2022 – 2027)
- 13.1 Introduction
- 13.2 Latin America Wearable Fitness Technology Product Market Share Analysis, By Product
- 13.3 Latin America Wearable Fitness Technology Product Market Size and Forecast, By Component
- 13.4 Latin America Wearable Fitness Technology Product Market Size and Forecast, By Technology
- 13.5 Latin America Wearable Fitness Technology Product Market Size and Forecast, By Activity Tracking
- 13.6 Latin America Wearable Fitness Technology Product Market Size and Forecast, By Country
- 14Middle East Wearable Fitness Technology Market Analysis and Forecast (2022 – 2027)
- 14.1 Introduction
- 14.2 Middle East Wearable Fitness Technology Product Market Share Analysis, By Product
- 14.3 Middle East Wearable Fitness Technology Product Market Size and Forecast, By Component
- 14.4 Middle East Wearable Fitness Technology Product Market Size and Forecast, By Technology
- 14.5 Middle East Wearable Fitness Technology Product Market Size and Forecast, By Activity Tracking
- 14.6 Middle East Wearable Fitness Technology Product Market Size and Forecast, By Country
- 15Competitive Analysis
- 15.1 Competition Dashboard
- 15.2 Market share Analysis of Top Vendors
- 15.3 Key Development Strategies
- 16Company Profiles
- 16.1 Fitbit Inc
- 16.1.1 Overview
- 16.1.2 Offerings
- 16.1.3 Key Financials
- 16.1.4 Business Segment & Geographic Overview
- 16.1.5 Key Market Developments
- 16.1.6 Key Strategies
- 16.2 Apple Inc
- 16.2.1 Overview
- 16.2.2 Offerings
- 16.2.3 Key Financials
- 16.2.4 Business Segment & Geographic Overview
- 16.2.5 Key Market Developments
- 16.2.6 Key Strategies
- 16.3 Xiaomi Technology Co. Ltd
- 16.3.1 Overview
- 16.3.2 Offerings
- 16.3.3 Key Financials
- 16.3.4 Business Segment & Geographic Overview
- 16.3.5 Key Market Developments
- 16.3.6 Key Strategies
- 16.4 Garmin Ltd
- 16.4.1 Overview
- 16.4.2 Offerings
- 16.4.3 Key Financials
- 16.4.4 Business Segment & Geographic Overview
- 16.4.5 Key Market Developments
- 16.4.6 Key Strategies
- 16.5 Samsung Electronics Co. Ltd
- 16.5.1 Overview
- 16.5.2 Offerings
- 16.5.3 Key Financials
- 16.5.4 Business Segment & Geographic Overview
- 16.5.5 Key Market Developments
- 16.5.6 Key Strategies
- 16.6 Adidas AG
- 16.6.1 Overview
- 16.6.2 Offerings
- 16.6.3 Key Financials
- 16.6.4 Business Segment & Geographic Overview
- 16.6.5 Key Market Developments
- 16.6.6 Key Strategies
- 16.7 LG Electronics Inc
- 16.7.1 Overview
- 16.7.2 Offerings
- 16.7.3 Key Financials
- 16.7.4 Business Segment & Geographic Overview
- 16.7.5 Key Market Developments
- 16.7.6 Key Strategies
- 16.8 Nike Inc
- 16.8.1 Overview
- 16.8.2 Offerings
- 16.8.3 Key Financials
- 16.8.4 Business Segment & Geographic Overview
- 16.8.5 Key Market Developments
- 16.8.6 Key Strategies
- 16.9 Qualcomm Inc
- 16.9.1 Overview
- 16.9.2 Offerings
- 16.9.3 Key Financials
- 16.9.4 Business Segment & Geographic Overview
- 16.9.5 Key Market Developments
- 16.9.6 Key Strategies
- 16.10 Sony Corp
- 16.10.1 Overview
- 16.10.2 Offerings
- 16.10.3 Key Financials
- 16.10.4 Business Segment & Geographic Overview
- 16.10.5 Key Market Developments
- 16.10.6 Key Strategies
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