Global Fitness Tracker Market Expected To Reach XX Million By 2025
According to a new report published by Reports Monitor titled, Global Fitness Tracker Market, Growth Opportunities, Innovations and Forecast, 2018-2025,” the global fitness tracker market was valued at XX million in 2018, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Fitness tracker is used to check and analyse fitness related measurements such as distance walked and run, calorie consumption, heart beat and quality of sleep. They can connect wirelessly with smartphone, computers and are used for long term data tracking. They are also known as smart band activity tracker and it will help a person to lose weight.
The market of fitness tracker is growing because of increasing awareness of people towards health, adding to it in contrast the uneven lifestyle leading to lots of health issues like obesity, blood pressure, diabetes. Also traceability for children becomes easy after the arrival of smart band in market. Use of fitness tracker as e-wallet in sync with the smart phone, furthermore convenience of use makes it more popular ultimately driving the market.
Fitness tracker are costly and is not affordable to everyone furthermore the health issues are more prominent in rural areas and it is the biggest restraints for this market, in addition to this the popularity, reliability and non addictive technology slows down the growth of this market, technology should be addictive in nature and then only it will be able to sustain in the market, but fitness bands are not regularly used for longer tenure by the people, and ineffectiveness in terms of showing the results in case of obesity, blood sugar and blood pressure is degrading the market. Opportunities in the market is immense due to increase in the awareness of people for health, further increase in the population and health issues will become the biggest opportunity for this market.
On the basis of distribution channel the market is segmented as retail outlets, ecommerce web sites & others. Market can be segmented on the basis of application which includes use for obesity, diabetes, blood pressure, calorie calculation, and weight loss. Apart from that age is also the segmenting factor where distance baby monitoring is done for the age from 0-5 years age, and the others include age group of 25-44 years age
Reports are generated keeping North America, Europe, Asia pacific, and LMAEA (Latin America, Middle East, Africa) in consideration, North America will be attractive market for this segment because of busy lifestyle they require the proper care for themselves.
Key players: Apple INC., Fitbit INC., Samsung Electronics, Sony Corp, Xiaomi, Garmin Ltd., Fossil Group, Jawbone, Boltt, Huawei technologies
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