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Global Fitness Tracker Market Size, Share, Industry, Forecast: By Type: Smart Watches, Fitness Bands, Smart Clothing, Others; By Application: Heart Rate Tracking, Sleep Monitoring, Glucose Monitoring, Sports, Running, Cycling Tracking; By Distribution Channel: Online, Offline; Regional Analysis; Competitive Landscape; 2024-2032
Global Fitness Tracker Market Outlook
The global fitness tracker market size reached approximately USD 56.87 billion in 2023. The market is assessed to grow at a CAGR of 17.5% between 2024 and 2032 to attain a value of around USD 242.78 billion by 2032.
Key Trends in the Market
A fitness tracker refers to a smart gadget that monitors, tracks, and records the physical activity, heart rate, and oxygen level of the wearer. It supports wearers to improve their overall health and can be connected to smartphones for attending calls, viewing notifications, and playing music. Some fitness trackers can also notify users about their movement and skin temperature, among others, to support their fitness goals.
- One of the significant fitness tracker market trends is the rising health consciousness amid the increasing prevalence of various health issues. By tracking movement, steps, pace, heart rate, exercise, sleep quality, calories, and other activities, fitness trackers empower customers to monitor and improve their health and achieve their fitness goals.
- With rising disposable incomes, growing accessibility to high-speed internet, improving standards of living, growing spending on health and wellness, and the robust growth of the wearables market, the demand for fitness trackers is surging.
In addition, research activities have demonstrated the benefits of fitness trackers in promoting goal setting, improving physiological outcomes, surging physical activities, and reducing mental health issues such as anxiety and depression. Hence, in the forecast period, the fitness tracker market demand is expected to grow with the increasing awareness regarding such benefits of the wearable.
- The increasing affordability of the product and the rising trend of preventative healthcare are positively impacting the fitness tracker market demand. These trackers are increasingly utilised to collect physiological data, monitor heart and oxygen rates, and alert individuals about potential health complications.
- The fitness tracker market expansion is being fuelled by the robust growth of the e-commerce sector in both developed and developing countries. Customers increasingly prefer e-commerce platforms to buy fitness trackers as they sell a wide range of wearables at different price points, offer enhanced purchasing convenience, and provide reviews and product specifications to support them in making an informed buying decision.
Moreover, ease of exchange and return, attractive discounts, free delivery options, and extended warranties offered by various online retail platforms to enhance the durability of wearables and ensure their protection against device failures are expected to aid the fitness tracker market sales in the coming years.
- Advancements in sensor technologies are boosting the accuracy of fitness trackers to diagnose health-related issues. Moreover, the development of AI-based sensors that can accurately recognise and adapt to different movements, offer hyper-personalisation, and enable users to automatically track their activities without manual intervention is anticipated to further fuel the fitness tracker market growth in the forecast period.
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Market Analysis
Based on type, the market is segmented into smart watches, fitness bands, and smart clothing, among others. On the basis of application, the market can be divided into heart rate tracking, sleep monitoring, glucose monitoring, sports, running, and cycling tracking.
By distribution channel, the fitness tracker market segmentation includes online and offline. The major regional markets for fitness tracker include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global fitness tracker market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Xiaomi Corporation
- Samsung Electronics Co. Ltd.
- Huawei Technologies Co. Ltd
- Google LLC
- Fossil Group, Inc.
- IMAGINE MARKETING LTD. (BoAt)
- Sony Corporation
- Moov Inc.
- LG Corporation
- HTC Corporation
- Polar Electro Oy
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Market Share by Type
Smartwatch accounts for a substantial fitness tracker market share due to its rising affordability, the increasing demand for wearables, and growing spending on smart gadgets. Smartwatches offer features like Bluetooth calling, gesture control, access to notifications, fall detection, and music playing, among others. Such features, coupled with extended battery life and high-quality display, boost the appeal of smartwatches for tracking health. Moreover, there is an increasing deployment of innovative displays such as organic emitting diode (OLED) and AMOLED, fuelling the quality of smartwatches.
In the forecast period, the surging launch of smartwatches with innovative features and enhanced customisability is anticipated to aid the fitness tracker market development. Meanwhile, there is a rising popularity of smart clothing, which is designed using technologies like GPS, biofeedback sensors, and remote controls. This type of clothing is increasingly utilised to measure health metrics such as breathing rate, heart rate, and body composition, among others.
In addition, increasing research and development activities by key players to develop innovative smart clothing that can analyse the sweat of wearers to monitor their vital physiological signals and mental and physical health while tracking health issues like heart diseases are likely to expand the fitness wearables market size in the coming years.
Market Share by Region
As per the fitness tracker market analysis, North America accounts for a significant market share due to rising health concerns and the increasing prevalence of health issues such as obesity and diabetes. The United States boasts one of the highest adoption rates of fitness trackers, especially among the young population. Technological advancements and innovations by key players such as Apple in the region are also favouring the market.
The Asia Pacific also represents a considerable wearable fitness tracker market share, driven by flourishing smartwatch sales in emerging economies. India is one of the leading markets for smartwatches, aided by the increasing number of wearable start-ups offering high-performance and premium fitness trackers at affordable prices. Factors such as growing health concerns and the increasing launches of fitness trackers with innovative features, premium appearances, and different strap finishes, among others, are further positively influencing the market.
In the forecast period, surging investments in research activities by key players in the Asia Pacific to improve features of smartwatches and provide personalised insights and recommendations to users are also expected to bolster the overall fitness tracker market development.
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Competitive Landscape
Xiaomi Corporation is a smart manufacturing and consumer electronics company that was founded in 2010. The company is headquartered in Beijing, China, and it is listed on the Main Board of the Hong Kong Stock Exchange. It is one of the leading smartphone companies, and through innovations in services, software, and hardware, it aims to become a user-centric mobile company. With a wide presence in over 100 countries, the company also offers a wide range of wearables, ranging from smartwatches to earphones.
Fossil Group, Inc. is a company that is engaged in the manufacturing, designing, distribution, and marketing of lifestyle accessories. Some of its popular offerings include smartwatches, traditional watches, handbags, sunglasses, belts, and jewellery, among others. Headquartered in Texas, the United States, the company owns renowned brands like Michele, Zodiac, Fossil, Skagen, and Relic. Its products are marketed and sold in more than 140 countries.
IMAGINE MARKETING LTD. (BoAt) is the parent company of boAt, a leading wearable and audio brand. With its headquarters in Maharashtra, India, and founded in 2013, the company offers durable, affordable, and fashionable wearables and audio products. Some of its leading offerings include headphones, speakers, smartwatches, soundbars, and travel chargers, and its products are manufactured in India and China. The company accounts for a major portion of the fitness wearables market share in India.
Other fitness tracker market players include Samsung Electronics Co. Ltd., Huawei Technologies Co. Ltd, Google LLC, Sony Corporation, Moov Inc., LG Corporation, HTC Corporation, and Polar Electro Oy.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Fitness Tracker Market Analysis
8.1 Key Industry Highlights
8.2 Global Fitness Tracker Historical Market (2018-2023)
8.3 Global Fitness Tracker Market Forecast (2024-2032)
8.4 Global Fitness Tracker Market by Type
8.4.1 Smart Watches
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Fitness Bands
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Smart Clothing
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global Fitness Tracker Market by Application
8.5.1 Heart Rate Tracking
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Sleep Monitoring
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Glucose Monitoring
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Sports
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Running
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Cycling Tracking
8.5.6.1 Historical Trend (2018-2023)
8.5.6.2 Forecast Trend (2024-2032)
8.6 Global Fitness Tracker Market by Distribution Channel
8.6.1 Online
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Offline
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Fitness Tracker Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Fitness Tracker Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Fitness Tracker Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Fitness Tracker Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Fitness Tracker Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Fitness Tracker Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Xiaomi Corporation
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Samsung Electronics Co. Ltd.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Huawei Technologies Co. Ltd
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Google LLC
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Fossil Group, Inc.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 IMAGINE MARKETING LTD. (BoAt)
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Sony Corporation
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Moov Inc.
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 LG Corporation
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 HTC Corporation
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Polar Electro Oy
16.2.11.1 Company Overview
16.2.11.2 Product Portfolio
16.2.11.3 Demographic Reach and Achievements
16.2.11.4 Certifications
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Fitness Tracker Market: Key Industry Highlights, 2018 and 2032
2. Global Fitness Tracker Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Fitness Tracker Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Fitness Tracker Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Fitness Tracker Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Fitness Tracker Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
7. Global Fitness Tracker Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
8. Global Fitness Tracker Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Fitness Tracker Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Fitness Tracker Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Fitness Tracker Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Fitness Tracker Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Fitness Tracker Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Fitness Tracker Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Fitness Tracker Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Fitness Tracker Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Fitness Tracker Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Fitness Tracker Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Fitness Tracker Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Fitness Tracker Market Structure
Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 56.87 billion.
The market is assessed to grow at a CAGR of 17.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 242.78 billion by 2032.
The major market drivers are the increasing health-consciousness, the development of innovative displays, and the growing prevalence of various health-related issues.
The key trends guiding the market growth include increasing advancements in sensor technology, the rising use of fitness trackers in the healthcare sector, and the growing development of textile-based wearables.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major applications of fitness tracker are heart rate tracking, sleep monitoring, glucose monitoring, sports, running, and cycling tracking.
The significant distribution channels in the market are online and offline.
The major players in the market are Xiaomi Corporation, Samsung Electronics Co. Ltd., Huawei Technologies Co. Ltd, Google LLC, Fossil Group, Inc., IMAGINE MARKETING LTD. (BoAt), Sony Corporation, Moov Inc., LG Corporation, HTC Corporation, and Polar Electro Oy.
Analyst Review
The global fitness tracker market attained a value of nearly USD 56.87 billion in 2023, driven by the increasing health consciousness. Aided by the increasing advancements in sensor technology, the market is estimated to witness further growth in the forecast period of 2024-2032, growing at a CAGR of 17.5%. The market is projected to reach about USD 242.78 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the market. Based on its types, the fitness tracker market can be segmented into smart watches, fitness bands, and smart clothing, among others. By application, the market is divided into heart rate tracking, sleep monitoring, glucose monitoring, sports, running, and cycling tracking. On the basis of distribution channels, the market is divided into online and offline. The major regional markets for fitness tracker are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Xiaomi Corporation, Samsung Electronics Co. Ltd., Huawei Technologies Co. Ltd, Google LLC, Fossil Group, Inc., IMAGINE MARKETING LTD. (BoAt), Sony Corporation, Moov Inc., LG Corporation, HTC Corporation, and Polar Electro Oy.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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