Wearable Fitness Trackers Market by Device Type (Smartwatches, Fitness Bands, Smart Glasses, Smart Clothing, and Others), Component (Hardware and Software), Connectivity (Bluetooth, Wi-Fi, Cellular, NFC, and Others), Operating System (Android, iOS, Windows, and Tizen), Distribution Channel (Online and Offline), and Application (Running, Cycling, Heart Rate Tracking, Stress Management, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2028. According to a new report published by Allied Market Research, titled, “Wearable Fitness Trackers Market by Device Type, Component, Connectivity, Operating System, Distribution Channel, and Application: Global Opportunity Analysis and Industry Forecast, 2020–2028,” the global wearable fitness trackers industry size was valued at $38.68 billion in 2020, and is projected to reach $124.32 billion by 2028, registering a CAGR of 17.30%. The Asia-Pacific region is expected to be the leading contributor to the global market during the forecast period, followed by Europe and North America.
Top Impacting Factors
The prominent factors that impact the wearable fitness trackers market growth are increase in health awareness among consumers and surge in demand for wireless fitness & sports devices. In addition, emergence of large number of players in the market drives the wearable fitness tracker market growth. However, high initial cost of wearable fitness devices restricts the market growth. On the contrary, increase in investment on building a connected ecosystem is expected to create lucrative opportunities for the market. Therefore, these factors are expected to definitely affect the development of the global wearable fitness trackers market during the forecast period.
The report provides a detailed study of the dynamic driving and restraining factors, major challenges, and lucrative opportunities. The report offers a SWOT analysis that helps to understand the driving and restraining factors in the industry. The report highlights market segmentation and includes the study of major market players. Furthermore, the report covers a detailed study of the impact of the Covid-19 outbreak on the global Wearable Fitness Trackers market. The global Wearable Fitness Trackers market report offers an overview of the market and highlights the market definition and scope.
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The Wearable Fitness Trackers Market report offers a detailed analysis of the market on the basis of several parameters including sales, sales analysis, market size, and major driving factors. In addition, the report offers SWOT analysis, Porter’s five forces analysis, portfolio and financial analysis, and a business overview of services and products. Such statistical tools provide essential information regarding leading market players and help take advantage of lucrative opportunities in the industry. The report aids industry players and new industry entrants to devise sound business strategies and leveraging the opportunities.
The report provides a comprehensive study of the major market trends and driving factors that fuel the growth of the global Wearable Fitness Trackers market. The analysis of drivers and opportunities is essential in understanding the dynamic industry trends and how companies can leverage such trends. Furthermore, the analysis of challenges and restraints offered in the report helps in recognizing market dynamics. The global Wearable Fitness Trackers report provides quantitative as well as qualitative analyses of the market. The qualitative study provides the value chain analysis, pain point analysis, and key regulations.
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The report covers a detailed analysis of the impact of the Covid-19 pandemic on the market. The prolonged lockdown across the world and stringent restrictions on international trade have a significant impact on the global Wearable Fitness Trackers market. The Covid-19 pandemic resulted in a disrupted supply chain and value. Moreover, the pandemic increased the prices of raw materials and created a shortage of skilled workforce. The report provides consumer preferences, trends, and budget impact on the market owing to the Covid-19 pandemic.
Wearable Fitness Trackers Market Report Highlights
By Device Type
- Smartwatches
- Fitness Bands
- Smart Glasses
- Smart Clothing
- Others
By Component
- Hardware
- Software
By Component
- Bluetooth
- Wi-Fi
- Cellular
- NFC
- Others
By Operating System
- Android
- iOS
- Windows
- Tizen
By Distribution Channel
- Online
- Offline
By Application
- Running
- Cycling
- Heart Rate Tracking
- Stress Management
- Others
The global wearable fitness trackers market is projected to attain a revenue of $48.2 billion by 2023, progressing at a 16.5% CAGR during the forecast period (2018–2023), according to a study conducted by P Intelligence.
The market is witnessing growth due to the increasing demand for wireless and continuous health monitoring devices, rising utilization of fitness tracking apps, growing disposable income, and surging awareness regarding obesity.
On the basis of product, the market is divided into leg-wear, smart garments and body sensors, wrist-wear, and others.Receive Sample Copy of this Report: https://www.psmarketresearch.com/market-analysis/wearable-fitness-trackers-market/report-sampleSmart garments and body sensors are projected to register the highest CAGR during the forecast period, owing to the rising collaboration of fitness, fashion, and high-tech companies.
The wearable fitness trackers market is bifurcated into direct and indirect in terms of distribution channel.
Between the two, the indirect category is expected to hold the larger share of the market during the forecast period, owing to the rising preference of customers for online shopping and growing number of online stores across the globe.Make an Enquiry before Purchase: https://www.psmarketresearch.com/send-enquiry?enquiry-url=wearable-fitness-trackers-marketGeographically, North America dominated the wearable fitness trackers market in the past, due to a large number of established players, rising spending in the healthcare sector, growing adoption of fitness trackers for health monitoring, and surging prevalence of chronic diseases.
The Asia-Pacific region is projected to register the fastest growth during the forecast period.
The Wearable Fitness Technology Market is expected to be worth USD 12.44 billion by 2022, growing at a CAGR of 13.7% during the forecast period.
Some of the major growth drivers for this market would be consumer preference for smart gadgets, increasing popularity of wearable fitness and medical devices, increasing awareness about fitness and rise in disposable income in developing economies.Major trends in the wearable fitness technology market include smartphone applications (apps) and advanced data analysis, advanced sensors, integration and implantation of technology with and in the human body, and specific-purpose wearables.
Companies are developing advanced apps with advanced data analysis features.
Companies may charge monthly subscription fees for premium data analysis and reports.
Also, they are focused on developing advanced sensors that track not only accurate metrics but also qualitative attributes such as stress level and athletic performance.
Wearable fitness technology has gone beyond just smartwatches and wristbands with new products such as smart shoes, smart apparels, headbands and more.
The Wearable Fitness Trackers market was valued at Million US$ in 2019 and is projected to reach Million US$ by 2027, at a CAGR of during the forecast period.
In this study, 2019 has been considered as the base year and 2020 to 2027 as the forecast period to estimate the market size for Wearable Fitness Trackers.This report presents the worldwide Wearable Fitness Trackers market size (value, production and consumption), splits the breakdown (data status 2014-2019 and forecast to 2027), by manufacturers, region, type and application.Read more: https://www.eternityinsights.com/report/wearable-fitness-trackers-marketThis study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.The following manufacturers are covered in this report:Apple Inc.Fitbit Inc.SAMSUNG ELECTRONICS CO., LTD.Sony CorporationXiaomiGarmin Ltd.FOSSIL GROUP, INC. (MISFIT)JawboneTomTom International BVHuawei Technologies Co., Ltd.BolttMoov Inc.More-fitAtlas Wearables, Inc.LenevoAcer Inc.GOQiiShenZhen Wayforward Electronic Co., LTD (LEMFO)MAD Apparel, Inc.Sensoria Inc.Wearable Fitness Trackers Breakdown Data by TypeWrist WearLeg WearSmart GarmentsOthersWearable Fitness Trackers Breakdown Data by ApplicationSpecialist RetailersFactory OutletsInternet SalesWearable Fitness Trackers Production by RegionUnited StatesEuropeChinaJapanSouth KoreaOther RegionsRequest free samples: https://www.eternityinsights.com/request-a-sample/32514Wearable Fitness Trackers Consumption by RegionNorth AmericaUnited StatesCanadaMexicoAsia-PacificChinaIndiaJapanSouth KoreaAustraliaIndonesiaMalaysiaPhilippinesThailandVietnamEuropeGermanyFranceUKItalyRussiaRest of EuropeCentral & South AmericaBrazilRest of South AmericaMiddle East & AfricaGCC CountriesTurkeyEgyptSouth AfricaRest of Middle East & AfricaThe study objectives are:To analyze and research the global Wearable Fitness Trackers status and future forecast?involving, production, revenue, consumption, historical and forecast.To present the key Wearable Fitness Trackers manufacturers, production, revenue, market share, and recent development.To split the breakdown data by regions, type, manufacturers and applications.To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.To identify significant trends, drivers, influence factors in global and regions.To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.Ask for discount: https://www.eternityinsights.com/ask-for-discount/32514In this study, the years considered to estimate the market size of Wearable Fitness Trackers :History Year: 2014 - 2019Base Year: 2019Estimated Year: 2019Forecast Year: 2019 - 2027This report includes the estimation of market size for value (million USD) and volume (K Units).
Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research.
All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.For the data information by region, company, type and application, 2019 is considered as the base year.
Whenever data information was unavailable for the base year, the prior year has been considered.Table of Contents1 Study Coverage 1.1 Wearable Fitness Trackers Product 1.2 Key Market Segments in This Study 1.3 Key Manufacturers Covered 1.4 Market by Type 1.4.1 Global Wearable Fitness Trackers Market Size Growth Rate by Type 1.4.2 Wrist Wear 1.4.3 Leg Wear 1.4.4 Smart Garments 1.4.5 Others 1.5 Market by Application 1.5.1 Global Wearable Fitness Trackers Market Size Growth Rate by Application 1.5.2 Specialist Retailers 1.5.3 Factory Outlets 1.5.4 Internet Sales 1.6 Study Objectives 1.7 Years ConsideredInquiry before buy: https://www.eternityinsights.com/enquiry-before-buying/325142 Executive Summary 2.1 Global Wearable Fitness Trackers Market Size 2.1.1 Global Wearable Fitness Trackers Revenue 2014-2027 2.1.2 Global Wearable Fitness Trackers Production 2014-2027 2.2 Wearable Fitness Trackers Growth Rate (CAGR) 2020-2027 2.3 Analysis of Competitive Landscape 2.3.1 Manufacturers Market Concentration Ratio (CR5 and HHI) 2.3.2 Key Wearable Fitness Trackers Manufacturers 2.3.2.1 Wearable Fitness Trackers Manufacturing Base Distribution, Headquarters 2.3.2.2 Manufacturers Wearable Fitness Trackers Product Offered 2.3.2.3 Date of Manufacturers Enter into Wearable Fitness Trackers Market 2.4 Key Trends for Wearable Fitness Trackers Markets & ProductsSimilar report at: Research ReportsGlobal DNS, DHCP, And IPAM (DDI) Market Share, Size, Regional Outlook, Industry Analysis, Growth, Segmentation and Forecast, 2019 – 2026Global Chromebook Market Share, Size, Regional Outlook, Industry Analysis, Growth, Segmentation and Forecast, 2019 – 2026About us: Our reputed “market research & consulting” portal, “Eternity Insights” publishes industry/market reports, equity & financial data, and analytical research reports.
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