Dublin, Nov. 23, 2023 (GLOBE NEWSWIRE) -- The "Fitness Tracker Market: Trends, Opportunities and Competitive Analysis (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The global fitness tracker market is forecast to reach an estimated $122.7 billion by 2028 with a CAGR of 18.2% from 2023 to 2028.
The future of the global fitness tracker market looks promising with opportunities in the heart rate tracking, sleep monitoring, glucose monitoring, sport, running tracking, and cycling tracking applications. The major driver for this market is increasing consumer awareness about staying healthy and fit and monitoring their daily physical activity to live healthier lives and lower their chances of developing chronic diseases. Growing trend of wearable technology among youth and expanding availability of affordable fitness tracking gadgets also drive the market growth.
Features of the Fitness Tracker Market
- Market Size Estimates: Fitness tracker market size estimation in terms of value ($B)
- Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
- Segmentation Analysis: Fitness tracker market size by various segments, such as by product type, distribution channel, application, and region.
- Regional Analysis: Fitness tracker market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth Opportunities: Analysis on growth opportunities in different product types, distribution channels, applications, and regions for the fitness tracker market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape for the fitness tracker market.
- Analysis of competitive intensity of the industry based on Porter's Five Forces model.
Fitness Tracker Market Insights
- It is forecast that smart watches will remain the largest segment over the forecast period owing to their live data monitoring capabilities, interoperability with smartphones, and ease of use features.
- Running tracking is expected to remain the largest application segment due to the increasing number of athletes across worldwide and growing awareness about trackers in sport activities.
- North America will remain the largest region due to the rising prevalence of sedentary lifestyle-related chronic disorders and growing health awareness among population in the region.
Fitness Tracker Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, fitness tracker companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base.
Some of the fitness tracker companies profiled in this report include:
- Apple
- Fitbit
- Garmin
- Ambiotex
- Samsung Electronics
For more information about this report visit https://www.researchandmarkets.com/r/jlfnx1
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