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Report Description

Report Description

The global wearable fitness trackers market is anticipated to grow with an impressive CAGR during the forecast period. The industry is growing as a result of increased funding for plans to develop cutting-edge technology that would benefit healthcare and fitness. A wearable fitness tracker may have multiple activity trackers, depending on the user's needs. These trackers include goal setting, sleep tracking, activity tracking, calorie tracking, heart monitoring, and step counting. Customers can link a wearable fitness tracker to their smartphone or the internet to track their fitness data over time and share it with other fitness lovers.

Monitoring and keeping track of daily fitness activities, such as steps taken, calories burned, distance traveled, and others, is made easy with the help of wearable fitness trackers. Around 533.6 million units of watches, wristbands and other wearables were shipped globally in 2021. A 20 percent increase year over year suggests that the market is expanding. Simple Bluetooth or wireless networking connections are available for wearable fitness trackers and smartphones. As a result, one of the most important factors driving the growth of the global market is the rise in demand for wireless sports and fitness equipment.

Currently, there are many international firms competing to provide cutting-edge fitness trackers that will rule the industry. IoT, AI, and wireless connectivity are among the cutting-edge elements these players implement into their goods. Consumer awareness of health monitoring is widely spread through the use of wearable fitness trackers. These devices provide numerous health advantages, including heart rate monitoring, sleep monitoring, step monitoring, and pulse monitoring.

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Technological Advancement Fuels Market Growth

A new device that is frequently used in the present day is the wearable fitness tracker. In an effort to have an edge over others, many international businesses are competing to provide cutting-edge fitness trackers. These companies use cutting-edge features like wireless networking, artificial intelligence, and IoT in their products. Wearable fitness trackers are frequently used to raise consumer awareness of health monitoring. These watches provide a number of health advantages, including the ability to track pulse, steps, sleep, and heart rate. For instance, the Apple Watch Series 8 includes the most third-party apps of any smartwatch, including Runkeeper, Strava, and Nike Run Club, in addition to a comprehensive set of built-in health, fitness, and safety features. Heart rate zone information, a new Multisport tracking option for triathletes, and support for Custom Workouts are all features of its watchOS 9 operating system. It can display real-time power, stride length, ground contact time, and vertical oscillation while tracking a run.

Increasing Mergers & Acquisitions Among Companies Propels Market Growth

In 2021, Google completed the acquisition of Fitbit. Fitbit has aided people all around the world in leading healthier, more active lives for more than ten years. Being a clear pioneer in the field, Fitbit developed a thriving community of over 29 million active users by producing incredible wearable technology and engaging wellness experiences. Fitbit Sense, the brand's most recent and technologically advanced health, and fitness wristwatch, has stress-relieving features and fresh methods to manage heart health, like an ECG app to check heart rhythm for indicators of atrial fibrillation (AFib). Additionally, HRX, an Indian fitness company owned by actor Hrithik Roshan and Exceed Entertainment, teams up with Noise. The partnership introduced a line of fitness trackers that were created with the demands of GenZ and millennials in mind. For comprehensive care when traveling, it is furnished with notable features, including a sleep cycle tracker, heart rate and blood pressure monitor, smart DND, and noise health suite. Additionally, it gives noisemakers access to more than 100 cloud-based, customized watch faces.

Product Launches Fuels Market Growth

Companies are launching new products for health-conscious consumers. Consumer demand for these products in rising at a robust pace, which is further prompting companies to expand their product portfolios in order to cater to the consumer demand. For instance, the newest generation of Fitbit's fitness wearables has been introduced in India in 2022. The Fitbit company introduced the Fitbit Inspire 3, Fitbit Versa 4, and Fitbit Sense 2 in the nation. The new Fitbit Inspire 3, Versa 4, and Fitbit Sense 2 all have updated designs that make them more comfortable to wear for extended periods of time. This factor is anticipated to further enhance the market growth during the forecast period.

Market Segmentation

The global wearable fitness trackers market is segmented into product type, enduser, distribution channel, and region. Based on the product type, the market is segmented into wrist wear, fitness bands, and footwear. Based on end-user, the market is segmented sports person and patients. Based on distribution channel, the market is segmented into offline and online.

Company Profile      

Apple Inc., Fossil Group, Inc, Garmin Ltd., Samsung Electronics Co., Ltd., Google LLC (Alphabet Inc.), Huawei Technologies Co., Ltd., NIKE, Inc.,Sensoria Inc., Xiaomi Corporation, TomTom N.V. are the major market players in  the global wearable fitness trackers market.

Attribute

Details

Base Year

2022

Historical Years

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Billion and CAGR for 2018-2022 and 2023-2028

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

Product Type

End User

Distribution Channel

Regional Scope

North America, Europe, Asia-Pacific, Middle East & Africa, and South America

Country Scope

United States, Canada, Mexico,  China, Japan, India, Indonesia, Vietnam, Russia, Italy, France, Spain, United Kingdom, Saudi Arabia, Egypt, UAE, Turkey, Brazil, Argentina; Colombia

Key Companies Profiled

Apple Inc., Fossil Group, Inc, Garmin Ltd., Samsung Electronics Co., Ltd., Google LLC (Alphabet Inc.), Huawei Technologies Co., Ltd., Nike, Inc.,    Sensoria Inc., Xiaomi Corporation, TomTom N.V., etc.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail of customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

Report Scope:

In this report, the global wearable fitness trackers market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  •   Wearable Fitness Trackers Market, By Product Type:
    • Wrist Wear
    • Fitness Bands
    • Footwear
  • Wearable Fitness Trackers Market, End User:
    • Sports Person
    • Patients
  •   Wearable Fitness Trackers Market, By Distribution Channel:
    • Offline
    • Online

·           Wearable Fitness Trackers Market, By Region:

  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Russia
    • France
    • United Kingdom
    • Italy
    • Spain
  • Asia-Pacific
    • China
    • India
    • Japan
    • Indonesia
    • Vietnam
  • Middle East & Africa
    • Saudi Arabia
    • Egypt
    • UAE
    • Turkey
  • South America
    • Brazil
    • Argentina
    • Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global wearable fitness trackers market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Wearable Fitness Trackers Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary         

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Voice of Customer Analysis (B2C Model Analysis)

4.1.  Sample Size Determination

4.2.  Respondent Demographics

4.2.1.     By Gender

4.2.2.     By Age

4.2.3.     By Occupation

4.3.  Brand Awareness

4.4.  Frequency of Usage

4.5.  Factors Influencing Purchase Decision

4.6.  Brand Satisfaction

4.7.  Customer Satisfaction

4.8.  Challenges Faced Post Purchase

5.    Global Wearable Fitness Trackers Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value          

5.2.  Market Share & Forecast

5.2.1.     By Product Type Market Share Analysis (Wrist Wear, Fitness Bands, Footwear)

5.2.2.     By End User Market Share Analysis (Sports Person, Patients)

5.2.3.     By Distribution Channel Market Share Analysis (Offline Vs. Online)

5.2.4.     By Regional Market Share Analysis

5.2.4.1.         Asia -Pacific Market Analysis

5.2.4.2.         North America Market Analysis

5.2.4.3.         South America Market Analysis

5.2.4.4.         Middle East & Africa Market Analysis

5.2.4.5.         Europe Market Analysis

5.2.5.     By Company Market Share Analysis

5.3.  Global Wearable Fitness Trackers Market Mapping & Opportunity Assessment

5.3.1.     By Product Type Market Mapping & Opportunity Assessment

5.3.2.     By End User Market Mapping & Opportunity Assessment

5.3.3.     By Distribution Channel Market Mapping & Opportunity Assessment

5.3.4.     By Regional Market Mapping & Opportunity Assessment

6.    Asia-Pacific Wearable Fitness Trackers Market Outlook

6.1.  Market Size & Forecast          

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Product Type Market Share Analysis

6.2.2.     By End User Market Share Analysis

6.2.3.     By Distribution Channel Market Share Analysis

6.2.4.     By Country Market Share Analysis

6.2.4.1.    China Wearable Fitness Trackers Market Outlook

6.2.4.1.1.          Market Size & Forecast

6.2.4.1.1.1.   By Value

6.2.4.1.2.          Market Share & Forecast

6.2.4.1.2.1.   By Product Type Market Share Analysis

6.2.4.1.2.2.   By End User Market Share Analysis

6.2.4.1.2.3.   By Distribution Channel Market Share Analysis

6.2.4.2.    Japan Wearable Fitness Trackers Market Outlook

6.2.4.2.1.          Market Size & Forecast

6.2.4.2.1.1.   By Value

6.2.4.2.2.          Market Share & Forecast

6.2.4.2.2.1.   By Product Type Market Share Analysis

6.2.4.2.2.2.   By End User Market Share Analysis

6.2.4.2.2.3.   By Distribution Channel Market Share Analysis

6.2.4.3.       India Wearable Fitness Trackers Market Outlook

6.2.4.3.1.          Market Size & Forecast

6.2.4.3.1.1.   By Value

6.2.4.3.2.          Market Share & Forecast

6.2.4.3.2.1.   By Product Type Market Share Analysis

6.2.4.3.2.2.   By End User Market Share Analysis

6.2.4.3.2.3.   By Distribution Channel Market Share Analysis

6.2.4.4.    Indonesia Wearable Fitness Trackers Market Outlook

6.2.4.4.1.          Market Size & Forecast

6.2.4.4.1.1.   By Value

6.2.4.4.2.          Market Share & Forecast

6.2.4.4.2.1.   By Product Type Market Share Analysis

6.2.4.4.2.2.   By End User Market Share Analysis

6.2.4.4.2.3.   By Distribution Channel Market Share Analysis

6.2.4.5.    Vietnam Wearable Fitness Trackers Market Outlook

6.2.4.5.1.          Market Size & Forecast

6.2.4.5.1.1.   By Value

6.2.4.5.2.          Market Share & Forecast

6.2.4.5.2.1.   By Product Type Market Share Analysis

6.2.4.5.2.2.   By End User Market Share Analysis

6.2.4.5.2.3.   By Distribution Channel Market Share Analysis

7.    North America Wearable Fitness Trackers Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Product Type Market Share Analysis

7.2.2.     By End User Market Share Analysis

7.2.3.     By Distribution Channel Market Share Analysis

7.2.4.     By Country Market Share Analysis

7.2.4.1.    United States Wearable Fitness Trackers Market Outlook

7.2.4.1.1.          Market Size & Forecast

7.2.4.1.1.1.   By Value

7.2.4.1.2.          Market Share & Forecast

7.2.4.1.2.1.   By Product Type Market Share Analysis

7.2.4.1.2.2.   By End User Market Share Analysis

7.2.4.1.2.3.   By Distribution Channel Market Share Analysis

7.2.4.2.    Canada Wearable Fitness Trackers Market Outlook

7.2.4.2.1.          Market Size & Forecast

7.2.4.2.1.1.   By Value

7.2.4.2.2.          Market Share & Forecast

7.2.4.2.2.1.   By Product Type Market Share Analysis

7.2.4.2.2.2.   By End User Market Share Analysis

7.2.4.2.2.3.   By Distribution Channel Market Share Analysis

7.2.4.3.    Mexico Wearable Fitness Trackers Market Outlook

7.2.4.3.1.          Market Size & Forecast

7.2.4.3.1.1.   By Value

7.2.4.3.2.          Market Share & Forecast

7.2.4.3.2.1.   By Product Type Market Share Analysis

7.2.4.3.2.2.   By End User Market Share Analysis

7.2.4.3.2.3.   By Distribution Channel Market Share Analysis

8.    Europe Wearable Fitness Trackers Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Product Type Market Share Analysis

8.2.2.     By End User Market Share Analysis

8.2.3.     By Distribution Channel Market Share Analysis

8.2.4.     By Country Market Share Analysis

8.2.4.1.    Russia Wearable Fitness Trackers Market Outlook

8.2.4.1.1.          Market Size & Forecast

8.2.4.1.1.1.   By Value

8.2.4.1.2.          Market Share & Forecast

8.2.4.1.2.1.   By Product Type Market Share Analysis

8.2.4.1.2.2.   By End User Market Share Analysis

8.2.4.1.2.3.   By Distribution Channel Market Share Analysis

8.2.4.2.    Italy Wearable Fitness Trackers Market Outlook

8.2.4.2.1.          Market Size & Forecast

8.2.4.2.1.1.   By Value

8.2.4.2.2.          Market Share & Forecast

8.2.4.2.2.1.   By Product Type Market Share Analysis

8.2.4.2.2.2.   By End User Market Share Analysis

8.2.4.2.2.3.   By Distribution Channel Market Share Analysis

8.2.4.3.    France Wearable Fitness Trackers Market Outlook

8.2.4.3.1.          Market Size & Forecast

8.2.4.3.1.1.   By Value

8.2.4.3.2.          Market Share & Forecast

8.2.4.3.2.1.   By Product Type Market Share Analysis

8.2.4.3.2.2.   By End User Market Share Analysis

8.2.4.3.2.3.   By Distribution Channel Market Share Analysis

8.2.4.4.    Spain Wearable Fitness Trackers Market Outlook

8.2.4.4.1.          Market Size & Forecast

8.2.4.4.1.1.   By Value

8.2.4.4.2.          Market Share & Forecast

8.2.4.4.2.1.   By Product Type Market Share Analysis

8.2.4.4.2.2.   By End User Market Share Analysis

8.2.4.4.2.3.   By Distribution Channel Market Share Analysis

8.2.4.5.    United Kingdom Wearable Fitness Trackers Market Outlook

8.2.4.5.1.          Market Size & Forecast

8.2.4.5.1.1.   By Value

8.2.4.5.2.          Market Share & Forecast

8.2.4.5.2.1.   By Product Type Market Share Analysis

8.2.4.5.2.2.   By End User Market Share Analysis

8.2.4.5.2.3.   By Distribution Channel Market Share Analysis

9.    Middle East & Africa Wearable Fitness Trackers Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Product Type Market Share Analysis

9.2.2.     By End User Market Share Analysis

9.2.3.     By Distribution Channel Market Share Analysis

9.2.4.     By Country Market Share Analysis

9.2.4.1.    Saudi Arabia Wearable Fitness Trackers Market Outlook

9.2.4.1.1.          Market Size & Forecast

9.2.4.1.1.1.   By Value

9.2.4.1.2.          Market Share & Forecast

9.2.4.1.2.1.   By Product Type Market Share Analysis

9.2.4.1.2.2.   By End User Market Share Analysis

9.2.4.1.2.3.   By Distribution Channel Market Share Analysis

9.2.4.2.    Egypt Wearable Fitness Trackers Market Outlook

9.2.4.2.1.          Market Size & Forecast

9.2.4.2.1.1.   By Value

9.2.4.2.2.          Market Share & Forecast

9.2.4.2.2.1.   By Product Type Market Share Analysis

9.2.4.2.2.2.   By End User Market Share Analysis

9.2.4.2.2.3.   By Distribution Channel Market Share Analysis

9.2.4.3.    UAE Wearable Fitness Trackers Market Outlook

9.2.4.3.1.          Market Size & Forecast

9.2.4.3.1.1.   By Value

9.2.4.3.2.          Market Share & Forecast

9.2.4.3.2.1.   By Product Type Market Share Analysis

9.2.4.3.2.2.   By End User Market Share Analysis

9.2.4.3.2.3.   By Distribution Channel Market Share Analysis

9.2.4.4.    Turkey Wearable Fitness Trackers Market Outlook

9.2.4.4.1.          Market Size & Forecast

9.2.4.4.1.1.   By Value

9.2.4.4.2.          Market Share & Forecast

9.2.4.4.2.1.   By Product Type Market Share Analysis

9.2.4.4.2.2.   By End User Market Share Analysis

9.2.4.4.2.3.   By Distribution Channel Market Share Analysis

10.  South America Wearable Fitness Trackers Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.2.              Market Share & Forecast

10.2.1.  By Product Type Market Share Analysis

10.2.2.  By End User Market Share Analysis

10.2.3.  By Distribution Channel Market Share Analysis

10.2.4.  By Country Market Share Analysis

10.2.4.1. Brazil Wearable Fitness Trackers Market Outlook

10.2.4.1.1.        Market Size & Forecast

10.2.4.1.1.1. By Value

10.2.4.1.2.        Market Share & Forecast

10.2.4.1.2.1. By Product Type Market Share Analysis

10.2.4.1.2.2. By End User Market Share Analysis

10.2.4.1.2.3. By Distribution Channel Market Share Analysis

10.2.4.2. Argentina Wearable Fitness Trackers Market Outlook

10.2.4.2.1.        Market Size & Forecast

10.2.4.2.1.1. By Value

10.2.4.2.2.        Market Share & Forecast

10.2.4.2.2.1. By Product Type Market Share Analysis

10.2.4.2.2.2. By End User Market Share Analysis

10.2.4.2.2.3. By Distribution Channel Market Share Analysis

10.2.4.3. Colombia Wearable Fitness Trackers Market Outlook

10.2.4.3.1.        Market Size & Forecast

10.2.4.3.1.1. By Value

10.2.4.3.2.        Market Share & Forecast

10.2.4.3.2.1. By Product Type Market Share Analysis

10.2.4.3.2.2. By End User Market Share Analysis

10.2.4.3.2.3. By Distribution Channel Market Share Analysis

11.  Market Dynamics

11.1.              Drivers

11.1.1.  Increasing consumer awareness regarding health benefits

11.1.2.  Increasing internet penetration

11.1.3.  Growing partnerships among various companies

11.1.4.  New product launches

11.2.              Challenges

11.2.1.  limited battery space

11.2.2.  High cost of wearable trackers

12.  Impact of COVID-19 on Global Wearable Fitness Trackers Market

12.1.              Impact Assessment Model       

12.1.1.  Key Segments Impacted

12.1.2.  Key Regions Impacted

12.1.3.  Key Countries Impacted

12.1.4.  Key Distribution Channel Impacted

13.  Market Trends & Developments

13.1.              Increasing fitness trend

13.2.              Rising demand for activity tracking, calorie tracking, heart monitoring devices

13.3.              Increasing trend of smart watches

14.  SWOT Analysis

14.1.              Strengths

14.2.              Weaknesses

14.3.              Opportunities

14.4.              Threats

15.  Porter’s Five Forces Model

15.1.              Competitive Rivalry

15.2.              Bargaining Power of Buyer

15.3.              Bargaining Power of Supplier

15.4.              Threat of New Entrants

15.5.              Threat of Substitutes

16.  Competitive Landscape

16.1.              Competition Outlook

16.2.              Company Profiles

16.2.1.  Apple Inc

16.2.1.1.      Company Details

16.2.1.2.      Products & Services

16.2.1.3.      Financials (As Reported)

16.2.1.4.      Key Market Focus & Geographical Presence

16.2.1.5.      Recent Developments

16.2.1.6.      Key Management Personnel

16.2.2.  Fossil Group, Inc

16.2.2.1.      Company Details

16.2.2.2.      Products & Services

16.2.2.3.      Financials (As Reported)

16.2.2.4.      Key Market Focus & Geographical Presence

16.2.2.5.      Recent Developments

16.2.2.6.      Key Management Personnel

16.2.3.  Garmin Ltd.

16.2.3.1.      Company Details

16.2.3.2.      Products & Services

16.2.3.3.      Financials (As Reported)

16.2.3.4.      Key Market Focus & Geographical Presence

16.2.3.5.      Recent Developments

16.2.3.6.      Key Management Personnel

16.2.4.  Samsung Electronics Co., Ltd.

16.2.4.1.      Company Details

16.2.4.2.      Products & Services

16.2.4.3.      Financials (As Reported)

16.2.4.4.      Key Market Focus & Geographical Presence

16.2.4.5.      Recent Developments

16.2.4.6.      Key Management Personnel

16.2.5.  Google LLC (Alphabet Inc.)

16.2.5.1.      Company Details

16.2.5.2.      Products & Services

16.2.5.3.      Financials (As Reported)

16.2.5.4.      Key Market Focus & Geographical Presence

16.2.5.5.      Recent Developments

16.2.5.6.      Key Management Personnel

16.2.6.  Huawei Technologies Co., Ltd.

16.2.6.1.      Company Details

16.2.6.2.      Products & Services

16.2.6.3.      Financials (As Reported)

16.2.6.4.      Key Market Focus & Geographical Presence

16.2.6.5.      Recent Developments

16.2.6.6.      Key Management Personnel

16.2.7.              Nike, Inc.

16.2.7.1.      Company Details

16.2.7.2.      Products & Services

16.2.7.3.      Financials (As Reported)

16.2.7.4.      Key Market Focus & Geographical Presence

16.2.7.5.      Recent Developments

16.2.7.6.      Key Management Personnel

16.2.8.  Sensoria Inc.

16.2.8.1.      Company Details

16.2.8.2.      Products & Services

16.2.8.3.      Financials (As Reported)

16.2.8.4.      Key Market Focus & Geographical Presence

16.2.8.5.      Recent Developments

16.2.8.6.      Key Management Personnel

16.2.9.  Xiaomi Corporation.

16.2.9.1.      Company Details

16.2.9.2.      Products & Services

16.2.9.3.      Financials (As Reported)

16.2.9.4.      Key Market Focus & Geographical Presence

16.2.9.5.      Recent Developments

16.2.9.6.      Key Management Personnel

16.2.10.                TomTom N.V.

16.2.10.1.    Company Details

16.2.10.2.    Products & Services

16.2.10.3.    Financials (As Reported)

16.2.10.4.    Key Market Focus & Geographical Presence

16.2.10.5.    Recent Developments

16.2.10.6.    Key Management Personnel

17.  Strategic Recommendations/Action Plan

17.1.              Key Focus Areas

17.2.              Target Regions

17.3.              Target Product Type

17.4.              Target End User

17.5.              Target Distribution Channel

18.  About Us & Disclaimer

Figures and Tables

Frequently asked questions

Frequently asked questions

Garmin, Apple, Xiaomi, and more are the competitors of Fitbit in the global wearable fitness trackers market.

Fitbit's target market consists of working professionals between the ages of 25 and 40 who have a medium income and a high degree of education. This consumer group's members frequently lack the time to exercise on a regular basis.

Fitbit, Apple, Samsung, Nike, Xiaomi are the best fitness trackers in the market.

Due to the limited battery capacity of wearable devices, proper power management is required which is the biggest challenge in the global wearable fitness trackers market.

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