Fitness Tracker Market Forecasts to 2030 – Global Analysis By Type (Smart Bands, Smart Clothing, Smart Watches and Other Types), Wearing Type, Compatibility, Compatibility, Distribution Channel, Application and By Geography

Fitness Tracker Market Forecasts to 2030 – Global Analysis By Type (Smart Bands, Smart Clothing, Smart Watches and Other Types), Wearing Type, Compatibility, Compatibility, Distribution Channel, Application and By Geography


According to Stratistics MRC, the Global Fitness Tracker Market is accounted for $53.1 billion in 2023 and is expected to reach $185.0 billion by 2030 growing at a CAGR of 19.5% during the forecast period. An instrument for monitoring fitness-related activities, such as steps taken, walking distance, heart rate, and sleep duration, is a fitness tracker. It's offered as eyeglasses, leggings, earphones, bracelets, and other accessories. These utility devices may wirelessly network with computers or mobile devices. The two main displays of a fitness tracker are a colorful display and a monochrome display. Both retail and online sales of these devices are possible.

According to WHO's 2019 Global Health estimates, non-communicable diseases now account for seven of the world's top ten causes of death. According to Planet's breach report, an unprotected database containing data from fitness trackers and wearables exposed more than 61 million records.

Market Dynamics

Driver

Growing awareness related to health and fitness

The increased desire to keep fit and healthy and track fitness activities is what is driving the market for fitness trackers. The monitoring devices have come a long way from being simple pedometers to intelligent gadgets with a colorful display that monitor activity, track sleep patterns, measure heart rates, and more. Additionally, frequent exercise lowers tension, anxiety, and depressive symptoms. People are being pushed by their increasing health issues to engage in both a healthy diet and physical activity. Their use of fitness trackers to keep track of their workouts increases demand for fitness monitoring solutions.

Restraint

Privacy and safety issues

As the internet of things (IoT) develops, privacy problems will only become more of a worry. Security issues with smart watch fitness trackers are comparable to those with other IoT and smart devices. A major security problem is the capacity of fitness tracker devices to track location and identify position. Additionally, since fitness tracker bands are continuously linked to the phone, there is a greater risk of data breaches coming from the phone itself because of data synchronization. Additionally, they are useful for tracking health, but data breaches might limit the market's expansion because they pose a serious safety risk.

Opportunity

Rise in the use of digital technology

Digital developments have led to a rise in the usage of wearables and fitness tracker gadgets. Numerous fitness applications are available, with practically all of them addressing every possible area of fitness. Some of the most user-friendly fitness applications can keep track of everything from diet to step counters to specific workouts and videos showing how to perform them. The demand for digital fitness trackers is rising as a result of the rise in digital advancements.

Threat

High cost of fitness devices

Smart gadgets are pricey and unaffordable because to the rising demand for them brought on by the digital market and internet, and technology. All of the essential technology is available in smart watches and fitness trackers for recording health-related information, but the expensive cost of the devices can be a significant barrier to market expansion.

Covid-19 Impact

The COVID-19 epidemic has seen an increase in the market for fitness tracker goods as a result of widespread intake and use of these tools to check heart rate and oxygen levels in the body. The major market players have expanded their research and development efforts in the fitness tracker segment as a result of this rise in use. The fact that these tech tools can also be useful for anticipating instances has fuelled demand for these fitness trackers.

The online segment is expected to be the largest during the forecast period

The online segment is expected to be the largest during the forecast period owing to some of the noteworthy benefits of online shopping for consumers such as attractive deals, ease of shopping, and faster shipping. Over the next years, the segment's growth will be aided by expanding smartphone use and internet usage, as well as increased accessibility to and popularity of e-commerce platforms due to their high levels of convenience and rapid turnaround times.

The running tracking segment is expected to have the highest CAGR during the forecast period

The running tracking segment is expected to have the highest CAGR during the forecast period. The availability of the most of these apps in the majority of fitness trackers on the market is the result of fierce competition, expanding usage, and customer preferences. Fitness monitors also keep track of the meals and liquids that are consumed. These trackers employ bluetooth to notify users of alerts when exercising, such as lifting weights or jogging. However, certain gadgets are specifically made for sports-related uses since they include capabilities like goal-setting, lap counting, and hill splitting.

Region with largest share

North America is projected to hold the largest market share during the forecast period. The market is anticipated to be fueled by factors such as a growth in the popularity of smartphones and the internet in the United States, rising incidence of health problems linked to sedentary lifestyles, rising disposable incomes, the launch of innovative products by top industry players, and rising cases of sedentary lifestyle-related health diseases. The area is anticipated to keep a sizable share due to increased focus on creating new goods with the newest technology in branded firms and growing device popularity through digital marketing.

Region with highest CAGR

Asia Pacific is projected to hold the highest CAGR over the forecast period owing to the high adoption of fitness trackers in the working-class population, due to steady economic expansion, technological advancements, and population growth. A bigger regional share of the fitness trackers market has been attributed to increasing adoption of fitness trackers because of the health issues linked to sedentary lifestyles and higher disposable incomes. Fitness trackers are well embraced by the market in China as a result of a surge in fitness awareness among the population.

Key players in the market

Some of the key players in Fitness Tracker market include Huawei Technologies Co. Ltd, Apple, Inc., Fitbit, Inc., Fossil Group Inc., Samsung Electronics Co. Ltd, Adidas AG, Garmin Ltd., Xiaomi Inc., Moov Inc., Huawei Technologies Co. Ltd, Lenovo Group Limited, Nike, Inc. and Lumo Bodytech Inc.

Key Developments

In March 2023, Garmin Singapore announced the Forerunner 265 series and Forerunner 965 smartwatches with vibrant AMOLED displays. The watch offers innovative features to help athletes push the limits by planning, preparing and tracking their fitness routine.

In September 2022, Garmin International, Inc. launched a new Black Panther fitness tracker wrist watch to track the daily activities of kids. The watch design adds Avengers character watch faces that help to motivate kids to stay active.

In June 2022, The Xiaomi Band 7 fitness tracker was introduced to the world market. This tracker has more than 100 sports modes and is water-resistant.

Types Covered
• Smart Bands
• Smart Clothing
• Smart Watches
• Other Types

Wearing Types Covered
• Leg Wear
• Hand Wear
• Head wear
• Other Wearing Types

Compatibility Covered
• Android
• Windows
• iOS
• Tizen

Display Types Covered
• Colored Display
• Monochrome Display

Distribution Channels Covered
• Offline Stores
• Online Stores

Applications Covered
• Running Tracking
• Cycling Tracking
• Sports
• Glucose Monitoring
• Sleep Monitoring
• Heart Rate Tracking
• Other Applications

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Fitness Tracker Market, By Type
5.1 Introduction
5.2 Smart Bands
5.3 Smart Clothing
5.4 Smart Watches
5.5 Other Types
6 Global Fitness Tracker Market, By Wearing Type
6.1 Introduction
6.2 Leg Wear
6.3 Hand Wear
6.4 Head wear
6.5 Other Wearing Types
7 Global Fitness Tracker Market, By Compatibility
7.1 Introduction
7.2 Android
7.3 Windows
7.4 iOS
7.5 Tizen
8 Global Fitness Tracker Market, By Display Type
8.1 Introduction
8.2 Colored Display
8.3 Monochrome Display
9 Global Fitness Tracker Market, By Distribution Channel
9.1 Introduction
9.2 Offline Stores
9.3 Online Stores
10 Global Fitness Tracker Market, By Application
10.1 Introduction
10.2 Running Tracking
10.3 Cycling Tracking
10.4 Sports
10.5 Glucose Monitoring
10.6 Sleep Monitoring
10.7 Heart Rate Tracking
10.8 Other Applications
11 Global Fitness Tracker Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Huawei Technologies Co. Ltd
13.2 Apple, Inc.
13.3 Fitbit, Inc.
13.4 Fossil Group Inc.
13.5 Samsung Electronics Co. Ltd
13.6 Adidas AG
13.7 Garmin Ltd.
13.8 Xiaomi Inc.
13.9 Moov Inc.
13.10 Huawei Technologies Co. Ltd
13.11 Lenovo Group Limited
13.12 Nike, Inc.
13.13 Lumo Bodytech Inc.
List of Tables
Table 1 Global Fitness Tracker Market Outlook, By Region (2021-2030) ($MN)
Table 2 Global Fitness Tracker Market Outlook, By Type (2021-2030) ($MN)
Table 3 Global Fitness Tracker Market Outlook, By Smart Bands (2021-2030) ($MN)
Table 4 Global Fitness Tracker Market Outlook, By Smart Clothing (2021-2030) ($MN)
Table 5 Global Fitness Tracker Market Outlook, By Smart Watches (2021-2030) ($MN)
Table 6 Global Fitness Tracker Market Outlook, By Other Types (2021-2030) ($MN)
Table 7 Global Fitness Tracker Market Outlook, By Wearing Type (2021-2030) ($MN)
Table 8 Global Fitness Tracker Market Outlook, By Leg Wear (2021-2030) ($MN)
Table 9 Global Fitness Tracker Market Outlook, By Hand Wear (2021-2030) ($MN)
Table 10 Global Fitness Tracker Market Outlook, By Head wear (2021-2030) ($MN)
Table 11 Global Fitness Tracker Market Outlook, By Other Wearing Types (2021-2030) ($MN)
Table 12 Global Fitness Tracker Market Outlook, By Compatibility (2021-2030) ($MN)
Table 13 Global Fitness Tracker Market Outlook, By Android (2021-2030) ($MN)
Table 14 Global Fitness Tracker Market Outlook, By Windows (2021-2030) ($MN)
Table 15 Global Fitness Tracker Market Outlook, By iOS (2021-2030) ($MN)
Table 16 Global Fitness Tracker Market Outlook, By Tizen (2021-2030) ($MN)
Table 17 Global Fitness Tracker Market Outlook, By Display Type (2021-2030) ($MN)
Table 18 Global Fitness Tracker Market Outlook, By Colored Display (2021-2030) ($MN)
Table 19 Global Fitness Tracker Market Outlook, By Monochrome Display (2021-2030) ($MN)
Table 20 Global Fitness Tracker Market Outlook, By Distribution Channel (2021-2030) ($MN)
Table 21 Global Fitness Tracker Market Outlook, By Offline Stores (2021-2030) ($MN)
Table 22 Global Fitness Tracker Market Outlook, By Online Stores (2021-2030) ($MN)
Table 23 Global Fitness Tracker Market Outlook, By Application (2021-2030) ($MN)
Table 24 Global Fitness Tracker Market Outlook, By Running Tracking (2021-2030) ($MN)
Table 25 Global Fitness Tracker Market Outlook, By Cycling Tracking (2021-2030) ($MN)
Table 26 Global Fitness Tracker Market Outlook, By Sports (2021-2030) ($MN)
Table 27 Global Fitness Tracker Market Outlook, By Glucose Monitoring (2021-2030) ($MN)
Table 28 Global Fitness Tracker Market Outlook, By Sleep Monitoring (2021-2030) ($MN)
Table 29 Global Fitness Tracker Market Outlook, By Heart Rate Tracking (2021-2030) ($MN)
Table 30 Global Fitness Tracker Market Outlook, By Other Applications (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook
Cookie Settings