Fitness Trackers Market Size Analysis Report Forecast to 2025
Fitness Trackers Market Size and Growth Rate:
Fitness trackers market is expected to reach USD 62,128 million by 2023, growing at a CAGR of 20.1% during the period (2019-2025).
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Fitness Trackers Market Overview:
The devices which monitors physical activities of a person like distance walked, heart rate and others comes under fitness trackers. These are compatible and can easily connect to smart phones or laptops with the wireless connection such as Bluetooth. The sensors built in the system which are accurate in monitoring physiological parameters.
Fitness Trackers Market Growth Drivers and Restraints:
Emergence of e-commerce in every platform and growing prevalence for the online stores with less investments is a key driving factor for the market to grow. Rise in the incidences of various health disorders and shifting trend towards healthy lifestyle is prompting the demand of the market. Growing focus on development on new devices with latest technology is accelerating the growth of the market.
However, high cost of devices which are having advanced features is slowly degrading the demand of the market. Rapid changes in the economic strategies may also impact negatively on the growth of the fitness trackers market.
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Increasing investments on electrical and electronic companies by government in order to introduce devices with cost effectiveness is to provide growth opportunities for the market. People interests towards sports activities and to track the physical activity parameters is likely to outshine the demand of the market. Furthermore, growing urban population is leveraging the growth rate of this market.
Fitness Trackers Market Geographical Analysis:
North America is witnessed in holding highest shares of the market with the rise in the capital income in both developed and developing countries. In addition, quick adoption of latest technologies is elevating the demand of the market in this region. Asia Pacific is the one next to North America in leading largest shares of the market by owing to increasing consumption rate of fitness bands. Europe is accounted in having fastest growth rate from recent years and is also to hit highest CAGR in foreseen years with growing support from the government through funds.
Keyplayers of the Fitness Trackers Market:
Some of the key players in the fitness trackers market are Jawbone, Nike, Adidas, Misfit Inc., Shenzhen Motto Electronics Co. Ltd., Fitbit Inc., Samsung, Xiaomi Inc., Google LLP, and Apple. Inc. Other companies involved in the market are Huawei Technologies Co., Ltd., Desay Infor Technology Co. Ltd, DO Intelligent Technology Co., Ltd., NJY Science and Technology Co. Ltd., and Beienda Technology Co. Limited.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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