Smart Fitness Devices Market to Witness Sales Slump in Near Term Due to COVID-19; Long-term Outlook Remains Positive 2014-2020

The market is expected to register a strong growth of 24.6% in its CAGR during the projected period to reach US$ 9,525.6 million by 2020. The Smart Fitness Devices component such as smart accessories, strength training equipment and cardiovascular equipment made considerable contribution to the overall growth of Smart Fitness Devices devices market across regions. Increased consumer spending on smart accessories and growing health concerns are some of the prominent factors driving the demand for Smart Fitness Devices. Also, introduction of connected fitness devices with advanced features by key players such as Samsung Electronics Co. Ltd., Fitbit Inc., and Sony Group are expected to boost the growth of Smart Fitness Devices, thereby increasing competitiveness in the market. Geographically, North America represents a huge market potential followed by Western Europe and Asia-Pacific, wherein the individual and fitness institutions owe a significant contribution to the global Smart Fitness Devices Market.

In this study, we analyse the global Smart Fitness Devices devices between 2013 and 2020. We focus on:

o    Key Smart Fitness Devices trends, development and technology adoption across all the regions

o    Market size and forecast by Smart Fitness Devices components and regions/countries

o    Relative market attractiveness and providers landscape in regions

o     Smart Fitness Devices Market Company Profiles

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Key Regions/Countries Covered

o    Global Smart Fitness Devices  market–North America, Western Europe, Asia-Pacific, Japan, Eastern Europe, Latin America, Middle East and Africa (MEA)

Examples of Key Companies
Competitive landscape of key players, such asFitbit Inc., Pebble Inc., Samsung Electronics Co. Ltd., Shanda Group, Sony Corporation, Nike Inc., Xiaomi Inc. and Garmin International Inc. in global Smart Fitness Devices devices market.

Manufacturers opting for Product Innovations to Bring New Smart Fitness Devices Devices to the Market

With the increasing use of Smart Fitness Devices devices lately, manufacturers aim to work on gaining a competitive edge with the help of innovations and new product developments. In line with the evolving technologies and the adoption of smart gadgets, the Smart Fitness Devices market is witnessing significant transformations. For example, the introduction of the revolutionary smart mirrors in the Smart Fitness Devices industry changed the existing scenario of Smart Fitness Devices by raising the bar of advancement. Offering an all-new way of doing daily workouts, the smart mirrors transformed how Smart Fitness Devices devices were looked at. With technological advancements in the Smart Fitness Devices device market, the globe is expected to witness several transformations in future.

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Manufacturers Moving from Mainstream Fitness Trackers to Advanced Smart Fitness Devices Devices

Moving ahead of the conventional Smart Fitness Devices gadgets and trackers, Smart Fitness Devices device manufacturers and players in the Smart Fitness Devices market are seen engaging in adding greater connectivity to the devices. The new products such as the Act HR Smart Band introduced by RiverSong, which not just provide fitness tracking but allow a huge stack of benefits including prompt message and call notifications to camera control with gestures. Manufacturers are thinking beyond the basic capabilities of the Smart Fitness Devices device to gain competitive advantage over the other providers in the market.

Connected Fitness to boost the growth of the Smart Fitness Devices Market

From the connectivity of fitness trackers with smart home technology to all-in-one connected fitness gadgets, the concept of connected fitness is gradually marking a significant place across the globe. Digitally enabled Smart Fitness Devices devices ease the process of fitness monitoring, thereby providing improved fitness tracking. This is expected to boost the growth of the Smart Fitness Devices devices market.

Smart Fitness Devices Market: Competitive Landscape Analysis

With the advancement in technology, the players in the Smart Fitness Devices industry are focusing on bringing new products to the market. The growth of the Smart Fitness Devices devices market is accelerated by the growing demand for Smart Fitness Devices gadgets such as smart wrist band and fitness trackers. The increasing significance gained by fitness lately, is providing major opportunities for the manufacturers in the Smart Fitness Devices market. Companies are growing their business year-over-year owing to the growing application of the Smart Fitness Devices devices. For instance the player in the global Smart Fitness Devices market, Huami, a subsidiary of Xiaomi, is showing significant growth with their advanced fitness devices. With their annual revenue recorded over two billion in the year 2017, the company is a major player in the Smart Fitness Devices devices market. Huami along with Fitbit, another significant market player in the market is also contributing to the growth of the Smart Fitness Devices devices market.

The research report highlights key insights and strategic actions carried out by major market players to provide an overview of the market. The report includes details about companies including Pebble Inc., Shanda Group, Sony Corporation, Fitbit Inc., Samsung Electronics Co. Ltd., Nike Inc., Xiaomi Inc. and Garmin International Inc. which are the players in the global Smart Fitness Devices devices market.

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About the Report titled “Smart Fitness Devices Market: Global Industry Analysis and Opportunity Assessment, 2014 – 2020”

The comprehensive research study on the global Smart Fitness Devices market includes an assessment of the market. While delivering actionable insights on the key market dynamics that shape the Smart Fitness Devices market, the report guides the reader through the key attributes of the market. The critical study thoroughly evaluates the current and future prospects of the Smart Fitness Devices market. The market is projected to record a strong CAGR in terms of revenue sales over the forecast period, 2014-2020. With the inclusion of extensive analysis of each segment of the market along with information related to the market size and value, the report is a complete explanatory guide