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Fitness Tracker Market

Fitness Tracker Market is Prospering Owing to Rising Trend of Wearable Technology Amongst Youth Across the Globe

The Fitness Tracker Market was valued at US$ 36 billion in 2020 and is expected to grow at a CAGR of 16% during the forecast period (2021-2027). Fitness Tracker is mainly used to monitor and record fitness-related physical activities, for example, distance walked, steps taken, heartbeat monitoring, sleep duration, and others.

The demand for the Fitness Tracker market is increasing on account of the rising trend of wearable technology amongst young youth, increase in awareness of health consciousness, rise in IoT trend, high preference in old age people. Moreover, the rising disposable income leads to high purchasing power which boosts the market growth.

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Based on Type, the market is fragmented into Smartwatches, Fitness Bands, Smart Clothing, and Others. The Smartwatches segment dominated the market in 2020 and is expected to grow at lucrative during the forecasted period owing to increasing prevalence to track physical activities, and user-friendly usability.

Based on Distribution, the market is bifurcated into Online and Offline. The Online segment dominated the market in 2020 and is expected to grow at lucrative during the forecasted period. The increasing penetration of the internet and smartphones all over the world is driving the segment growth.

Based on Application, the market is bifurcated into Heart Rate Tracking, Sleep Monitoring, Glucose Monitoring, Sports, Running, and Cycling Tracking. The Running segment dominated the market in 2020 and is expected to grow at lucrative during the forecasted period owing to rising competition and consumer preference.

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For a better understanding of the market adoption of Fitness Tracker, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America will dominate the Fitness Tracker market on account of the owing to the rising awareness and adoption of fitness trackers. Furthermore, the increasing incidents of health issues related to sedentary lifestyles, the growing penetration of smartphones and the internet, and the advent of innovative products by key market players in the North American region will drive the market growth. Some of the major players operating in the market include Adidas AG, Apple Inc., Fitbit Inc., Garmin Ltd, Google Inc, Jawbone Inc, LG Electronics Inc, Nike Inc, Pebble Technology Corp, and Qualcomm Inc.  Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.

Global Fitness Tracker Market Segmentation

Market Insight, by Type

  • Market Insight, by Distribution
  • Market Insight, by Application
  • Heart Rate Tracking
  • Sleep Monitoring
  • Glucose Monitoring
  • Sports
  • Running
  • Cycling Tracking

Market Insight, by Region

  • North America
    • United States
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • United Kingdom
    • France
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia-Pacific
  • Rest of World

Top Company Profiles

  • Adidas AG
  • Apple Inc.
  • Fitbit Inc.
  • Garmin Ltd.
  • Google Inc.
  • Jawbone Inc.
  • LG Electronics Inc.
  • Nike Inc.
  • Pebble Technology Corp.
  • Qualcomm Inc.

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