Wearable Fitness Trackers Market

Wearable Fitness Trackers Market: Wrist Wear Product Type Segment Expected to Remain Dominant over the Forecast Period: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)

  • 2017-09-08
  • REP-GB-4887
  • 471 pages
  • PDF PPT EXCEL
Wearable Fitness Trackers Market

An Incisive, In-depth Analysis on the Wearable Fitness Trackers Market

This study offers a comprehensive, 360 degree analysis on the Wearable Fitness Trackers market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Wearable Fitness Trackers market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

Wearable Fitness Trackers Market: About the report

Wearable fitness trackers, as considered within the scope of this report, are technology-based products that provide a variety of fitness tracking and health monitoring options to individuals who are health conscious. Besides this, the availability of technology-based smart wearable devices for keeping track on the fitness activities is a critical factor encouraging the growth of the global wearable fitness tracker market in terms of value.

Wearable Fitness Trackers Market: Overview

Wearable fitness trackers are offered in the form of wrist wear, leg wear, eye wear, ear wear and others. The wearable fitness tracker products are available as bands, watches, straps, rings, pendants, bracelets, clip-ons, clothes and others. The global wearable fitness tracker market is estimated to be valued at US$ 18,709.2 Mn by the end of 2016, and is expected to grow at a CAGR of 15.8% in terms of value over the forecast period. The global wearable fitness tracker market is expected to represent a high incremental opportunity between 2017 and 2027.  This growth in the wearable fitness tracker market can be attributed to an increase in the number of corporate players in the market. The market is also increasing due to the adoption of new technologies such as Constant Glucose Monitoring (CGM), which is encouraging customers to adopt wearable fitness trackers.

Wearable Fitness Trackers Market: Key Product Types

On the basis of product type, the global wearable fitness tracker market can be segmented into wrist wear, leg wear, smart garments and others. The wrist wear segment is expected to account for a sizable share of the overall wearable fitness tracker market by the end of the forecast period. Increasing demand for wearable fitness trackers that have features similar to smartwatches is fuelling the demand for wrist wearable fitness trackers. Increasing awareness about wearable fitness trackers in sports and their rising adoption by sportspersons is also boosting the overall wearable fitness tracker market. Owing to this, the leg wear sub-segment of the product type segment in the global wearable fitness tracker market is expected to witness a considerable CAGR during the forecast period.

Wearable Fitness Trackers Market: Key Applications

On the basis of application, the wearable fitness tracker market is categorised on the basis of pedometer, heart rate monitor, daily activity tracker, call text & calendar, sleep tracking, GPS tracking and others. The pedometer segment in the wearable fitness tracker market is expected to grow at the highest CAGR of 20% during the forecast period. On the basis of distribution channel, the wearable fitness tracker market is segmented as e-commerce and retail store. Increasing penetration of the Internet and the abundant availability of smartphones is driving the e-commerce distribution channel for the wearable fitness trackers throughout the globe.  On the basis of age group, the wearable fitness tracker market is segmented as 0-5 years, 6-18 years, 19-24 years, 25-44 years, 45-60 years and 60+ years. With reference to the end-user age-group, the wearable fitness tracker market is dominated by the age-group 25-44 years owing to higher affordability and growth in disposable income, which is increasing continuously in the past few years, thus impacting the overall wearable fitness tracker market.

Wearable Fitness Trackers Market: Dynamics

The growth of the wearable fitness trackers market is predominantly driven by the adoption of advanced technologies, transitioning consumer spending behaviour and the economic growth of the developing economies of South East Asia & Others of APAC, Middle East & Africa and China. However, high cost associated with wearable fitness trackers is a major factor challenging the growth of the wearable fitness tracker market in terms of value.

Wearable Fitness Trackers Market: Regional Overview

The North America wearable fitness tracker market holds a major value share in the global wearable fitness tracker market and is likely to maintain its dominance in the global wearable fitness tracker market over the forecast period. The wearable fitness tracker market in the region is projected to represent a significant incremental opportunity between 2017 and 2027. Increase in the disposable income of the population, rising concerns regarding health and increasing involvement in sports activities is expected to facilitate the growth of the North America wearable fitness tracker market during the forecast period. Health issues, such as obesity, diabetes, cancer, blood pressure and other ailments such as body ache, asthma and the like, are increasing rapidly in developed countries such as the U.S., Canada in the North America region. Wearable fitness trackers enable end users to track their fitness parameters and analyse & record their activities, calories burned, heart rate, etc., which is driving the demand for wearable fitness trackers in North America. With continuous innovations in technology, wearable fitness trackers are offering a diversified range of features, such as pedometers, accelerometers, gyroscope, heart rate, GPS, barometers and others, to end users. Moreover, nowadays, consumers prefer modern ways of fitness tracking as “guesstimating” is not accurate enough to keep track of fitness data. Hence, the availability of technology-based smart wearable devices for keeping track on the fitness activities is driving the wearable fitness trackers market over the forecast period.

Thus, owing to the advantages associated with wearable fitness trackers and the demand for an enhanced and healthy living experience, the wearable fitness tracker market is expected to gain traction during the forecast period in developed as well as developing countries. The APEJ region is expected to present attractive opportunities for the manufacturers of wearable fitness trackers. The wearable fitness tracker market in North America is estimated to expand at a significant CAGR in terms of value over the forecast period. The sales of wearable fitness trackers in Western Europe market is projected to represent a total incremental opportunity of US$ 14,628 Mn.

global wearable fitness trackers market

Wearable Fitness Trackers Market: Competition Landscape

Vendors in the wearable fitness tracker market are now focusing on introducing advanced innovative features and functionalities, as well as on expanding their sales channels across the globe. Some of the vendors in the wearable fitness tracker market vendors included in this study of the global wearable fitness tracker market are Apple Inc.; Fitbit Inc.; Samsung Electronics; Sony Corporation; Xiaomi; Garmin Ltd.; Fossil Group; Jawbone; TomTom International BV and Huawei Technologies Co., Ltd.

Vendors are continuously innovating their wearable fitness tracker products to penetrate the technology-influenced global market. For instance, in May 2017, Apple Inc. partnered with Nokia, a provider of information & communication technology. As per the partnership agreement, Nokia provides certain network infrastructure products and services to Apple. In June 2017, Fitbit Inc. partnered with the Minnesota Timberwolves, a Minnesota-based American professional basketball team. Under this partnership, Fitbit is an “Official Wearable” and “Official Sleep Tracker” for the players of Minnesota Timberwolves. In March 2017, Samsung partnered with Under Armour, one of the leading manufacturers of sports, casual apparels, shoes, etc., to support the “Under Armour Connected Fitness suite,” which includes various fitness applications.

An insightful report on the global wearable fitness trackers market

Future Market Insights (FMI) offers a 10-year forecast for the global wearable fitness trackers market between 2017 and 2027. In terms of value, the wearable fitness trackers market is expected to register a high CAGR during the forecast period. This study demonstrates the wearable fitness trackers market dynamics and trends globally across eight regions: North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and MEA, which influence the current nature and future status of the wearable fitness trackers market over the forecast period.

Report description, structure, and research methodology

This research report provides a detailed analysis of the wearable fitness trackers market and offers insights about the various factors driving the popularity of wearable fitness trackers and their features. The report includes an extensive analysis of key wearable fitness trackers market drivers, wearable fitness trackers market restraints, wearable fitness trackers market trends and market structure. The wearable fitness trackers market study provides a comprehensive assessment of stakeholder strategies and imperatives for succeeding in the business. The report segregates the wearable fitness trackers market based on product type, application, distribution channel and age-groups across different regions globally.

The wearable fitness trackers market is expected to witness considerable revenue growth during the forecast period owing to an increase in health issues such as obesity, diabetes, cancer, blood pressure and other ailments such as body ache, asthma and the like. Most of the people across the globe are becoming more concerned about their health, which is driving the market for wearable fitness trackers. Moreover, rising disposable income and enhanced focus towards living a healthy lifestyle are among factors boosting the revenue of the wearable fitness tracker market. 

The global wearable fitness tracker market report starts with an overview of the wearable fitness tracker market in terms of value. In addition, this section includes an analysis of key trends, drivers and restraints from the supply, demand and economy side, which are influencing the wearable fitness tracker market.

On the basis of the product type, the wearable fitness tracker market is segmented into wrist wear, leg wear, smart garments and others. Among all these sub-segments, the wrist wear segment is expected to dominate the overall wearable fitness tracker market in terms of revenue during the forecast period.

On the basis of application the wearable fitness tracker market is segmented into pedometer, heart rate monitor, daily activity tracker, call text & calendar, sleep tracking, GPS tracking and others. On the basis of distribution channel, the wearable fitness tracker market is segmented into e-commerce and retail stores. On the basis of age group, the wearable fitness tracker market is segmented as 0-5 years, 6-18 years, 19-24 years, 25-44 years, 45-60 years and 60+ years.

A detailed analysis has been provided for every segment in terms of market size analysis for the wearable fitness trackers market across different regions. This section provides a detailed analysis that covers the key trends.

The next section consists of a detailed analysis of the wearable fitness trackers market across various countries in the region. It provides a market outlook for 2017–2027 and sets the forecast within the context of the wearable fitness trackers market to include the latest technological developments as well as offerings in the wearable fitness tracker market. This study discusses key trends within countries that contribute to the growth of the wearable fitness tracker market as well as analyses degrees at which drivers are influencing the wearable fitness tracker market in each region. Key regions and countries assessed in this report include North America (the U.S. and Canada), Latin America (Brazil, Mexico and the rest of Latin America), Western Europe (Germany , France, UK, Italy, Spain, Benelux and the rest of Western Europe), Eastern Europe (Russia, Poland and rest of Eastern Europe), APEJ (China, India, Australia and New Zealand, ASEAN and rest of APEJ), Japan, and MEA (GCC Countries, Turkey, South Africa, North Africa and the rest of MEA). This report evaluates the present scenario and the growth prospects of the wearable fitness tracker market across various regions globally for the period 2017 –2027. We have considered 2016 as the base year and provided data for the remaining 12 months.

To offer an accurate forecast, we started by sizing the current market, which forms the basis of how the wearable fitness tracker market will grow in the future. Given the characteristics of the wearable fitness tracker market, we have triangulated the outcome of different types of analysis based on the technology trends. As previously highlighted, the global wearable fitness tracker market is categorised into a number of segments. All segments in terms of product type, application, distribution channel, age-group and different regions are analysed in terms of basis points to understand an individual segment’s relative contribution to the growth of the wearable fitness tracker market. This detailed information is important for the identification of various key trends of the global wearable fitness tracker market.

In addition, another key feature of this report is the analysis of all key segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical for assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global wearable fitness tracker market.

Competitive scenario of the global wearable fitness trackers market

In the final section of the report, we have included a competitive landscape to provide clients a dashboard view based on the categories of providers in the value chain, their presence in the wearable fitness tracker portfolio and key differentiators. This section is primarily designed to provide clients an objective and detailed comparative assessment of key providers specific to a market segment in the wearable fitness trackers supply chain and the potential players for the same. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on an in-depth assessment of capabilities and their success in the marketplace. Detailed profiles of providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the wearable fitness tracker market. Some of the key competitors covered in the global wearable fitness tracker market report include Apple Inc.; Fitbit Inc.; Samsung Electronics; Sony Corporation; Xiaomi; Garmin Ltd.; Fossil Group; Jawbone; TomTom International BV and Huawei Technologies Co., Ltd.

Key segments covered in the report

  • Product Type
    • Wrist wear
    • Leg wear
    • Smart garments
    • Others
  • Application
    • Pedometer
    • Heart rate monitor
    • Daily activity tracker
    • Call text & calendar
    • Sleep tracking
    • GPS tracking
    • Others
  • Distribution Channel
    • E-Commerce
    • Retail Stores
  • Age-Group
    • 0-5 Years
    • 6-18 Years
    • 19-24 Years
    • 25-44 Years
    • 45-60 Years
    • 60+ Years

Key regions covered in the report

  • North America Wearable Fitness Trackers market
    • U.S.
    • Canada
  • Latin America Wearable Fitness Trackers market
    • Brazil
    • Mexico
    • Rest of Latin America
  • Western Europe Wearable Fitness Trackers market
    • Germany
    • France
    • U.K.
    • Spain
    • Italy
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe Wearable Fitness Trackers market
    • Russia
    • Poland
    • Rest of Eastern Europe
  • APEJ Wearable Fitness Trackers market
    • China
    • India
    • Australia & New Zealand
    • ASEAN
    • Rest of APAC
  • Japan Wearable Fitness Trackers market
  • MEA Wearable Fitness Trackers Market
    • GCC Countries
    • Turkey
    • South Africa
    • North Africa
    • Rest of MEA

Key players in the wearable fitness trackers market

  • Apple Inc.
  • Fitbit Inc.
  • SAMSUNG ELECTRONICS CO., LTD.
  • Sony Corporation
  • Xiaomi
  • Garmin Ltd.
  • FOSSIL GROUP, INC. (MISFIT)
  • Jawbone
  • TomTom International BV
  • Huawei Technologies Co., Ltd.

Wearable Fitness Trackers Market Reports - Table of Contents

Get in touch

Akshay Godge

Akshay Godge

Client Partner - Global Business Development

Pranay Mhaisekar

Pranay Mhaisekar

Business Development

* indicates mandatory fields.

Our Clients


CASE STUDIES

See how our work makes an impact.

At FMI, we design strategies that are adaptive, impactful, and implementable.

Request Sample Ask An Analyst Request Special Price Request Methodology