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Global Fitness Tracker Market to Grow at a CAGR of 18.80% During 2021-2026, Aided by the Growing Awareness Regarding Benefits of Optimal Health

According to a new report by EMR titled, ‘Global Fitness Tracker Market Report and Forecast 2021-2026’, the global market for fitness tracker attained a value of about USD 35.13 billion in 2020. The industry is further expected to grow at a CAGR of 18.80% in the forecast period of 2021-2026 to reach a value of approximately USD 98.75 billion by 2026.

The increasing prevalence of various health adversaries and the growing awareness regarding the benefits of optimal health are propelling the growth of the fitness tracker industry. As consumers are increasingly preferring fashionable sensors, leading companies are developing sleeker and designer fitness trackers, which is driving the market growth. Moreover, the introduction of new features such as monitoring heart rate is increasing the accuracy of tracking calories and steps, among others, of fitness trackers, which is further surging their demand. The development of innovative fitness trackers to provide meaningful insights into sugar and hydration levels are expected to drive the growth of the market.

Apple Inc. (NASDAQ: AAPL), one of the leading companies in the industry, introduced Apple Watch Series 7 with advanced display in September 2021. The watch features a user interface that is optimised for ease of usage and readability while complementing 33% faster charging. It offers various significant health and wellness tools and features an ECG app and electrical heart sensor as well as a blood oxygen sensor and app. It aids users to maintain healthy and active lifestyles by connecting them with its new Mindfulness app, new workout types, and innovative accessibility features. Moreover, the watch deploys complex algorithms to analyse heart rate, global positioning system, accelerometer, and gyroscope data to initiate an Outdoor cycling workout. The company is also planning various new and innovative programs to boost its offerings in health and wellness segments. Such innovative products are expected to propel the growth of the fitness tracker industry in the forecast period.

Market Analysis by Type, Application, Distribution Channel, and Region:

  • The market, on the basis of type, can be divided into smart watches, fitness bands, and smart clothing, among others.
  • Based on applications, the industry can be divided into heart rate tracking, sleep monitoring, glucose monitoring, sports, running, and cycling tracking.
  • The distribution channels for fitness tracker include online and offline.
  • The regional markets for fitness tracker include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The increasing health-consciousness and the growing inclination towards active lifestyles are surging the demand for fitness trackers, hence augmenting the market growth.
  • The market is being aided by the development of cost-effective fitness trackers, the demand for which is surging among the growing middle-class population in developing countries.
  • The rising demand for innovative fitness trackers that can track blood sugar, heart rate, as well as metabolites and electrolytes in sweat to detect potential health-related issues is augmenting the market growth.
  • The increasing research and development (R&D) activities for the development of cost-effective and advanced smart clothing is expected to drive the industry growth in the forecast period.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for fitness tracker for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the types, applications, distribution channels, and major regions of fitness tracker.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global fitness tracker market are Ambiotex GmbH, Apple Inc., Fitbit Inc., NURVV Ltd., and Garmin Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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