Manufacturers opting for Product Innovations to Bring New Smart Fitness Devices to the Market
With the increasing use of smart fitness 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 market is witnessing significant transformations.
For example, the introduction of the revolutionary smart mirrors in the smart fitness industry changed the existing scenario of smart fitness by raising the bar of advancement. Offering an all-new way of doing daily workouts, the smart mirrors transformed how smart fitness devices were looked at. With technological advancements in the smart fitness device market, the globe is expected to witness several transformations in future.
Manufacturers Moving from Mainstream Fitness Trackers to Advanced Smart Fitness Devices
Moving ahead of the conventional smart fitness gadgets and trackers, smart fitness device manufacturers and players in the smart fitness 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 device to gain competitive advantage over the other providers in the market.
Connected Fitness to boost the growth of the Smart Fitness 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 ease the process of fitness monitoring, thereby providing improved fitness tracking. This is expected to boost the growth of the smart fitness devices market.
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Smart Fitness Market: Competitive Landscape Analysis
With the advancement in technology, the players in the smart fitness industry are focusing on bringing new products to the market. The growth of the smart fitness devices market is accelerated by the growing demand for smart fitness 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 market.
Companies are growing their business year-over-year owing to the growing application of the smart fitness devices. For instance the player in the global smart fitness 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 market. Huami along with Fitbit, another significant market player in the market is also contributing to the growth of the smart fitness 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 market.
About the Report titled “Smart Fitness Market: Global Industry Analysis and Opportunity Assessment, 2014 – 2020”
The comprehensive research study on the global smart fitness market includes an assessment of the market. While delivering actionable insights on the key market dynamics that shape the smart fitness 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 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.