The global wearable fitness tracker market is anticipated to grow at a CAGR OF 16.0% during the forecast period (2022-2028). A fitness tracker is a device that uses sensors to track the user’s movement and rotation. The device collects data and converts it into steps, calories, sleep quality, and general activity the user perform throughout the day. A wearable fitness tracker is an electronic device, which is connected through the internet or the user’s smartphone for long-term tracking of the user’s fitness data as well as sharing of the user’s data with other fitness fanatics.
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A wearable fitness tracker includes several activity trackers according to the user’s needs. These devices are loaded with the blood oxygen sensor, and automatic handwashing detection, and encourage users to be more active, stay connected, and manage their health in new ways. The increasing awareness about the importance of a healthy lifestyle, the rising demand for health monitoring devices are some factors driving the growth of the global wearable fitness tracker market. However, data privacy risk is a major factor restraining the growth of the market.
Some major players in the market include Apple Inc., Garmin Ltd., and Google LLC, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market.
Recent Strategic Initiatives
- In August 2020, Fitbit launched Sense, an advanced smartwatch that features an ECG monitor, stress management, skin temperature sensor, sleep monitor, SpO2 levels monitor, built-in GPS, period tracker, and 20+ exercise modes
- In June 2020, Zepp Health Corp (Huami Corp) launched the ultra-lightweight and thin body Amazfit BIP S at $ 64.37 in India. This Amazfit BIP S is equipped with a sleep tracker, 64 Gamut color display, 5 ATM water resistance, and Bluetooth music control. It also has built-in GPS and GLONASS dual mode positioning and assists users to track their routes and distance accurately.
- In March 2020, Fitbit launched Fitbit Charge 4, its most advanced health and fitness tracker with built-in GPS, active zone minutes, Spotify, sleep tools, Fitbit pat, and more.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Device Type
- By Connectivity
- By Operating System
- By Distribution Channel
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Apple Inc., Garmin Ltd., and Google LLC, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Wearable Fitness Tracker Report by Segment
By Device Type
- Smartwatches
- Fitness Bands
- Smart Glasses
- Smart Clothing
- Others
By Connectivity
- Bluetooth
- Wi-Fi
By Operating System
- Android
- iOS
- Windows
By Distribution Channel
- Online
- Offline
By Application
- Running
- Cycling
- Heart Rate Tracking
- Stress Management
- Others
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