Wearable Fitness Trackers Market Company Profiling with Detailed Strategies, Financials, And Recent Developments – P&S Intelligence
The growth is led by increasing use of fitness tracking apps, rising demand for wireless and continuous health monitoring devices, thriving awareness about obesity, and increase in disposable income.
On the basis of the product, the wearable fitness trackers market is categorized into wrist-wear, smart garments and body sensors, leg-wear, and others. Among the various products, wrist-wear held the largest share in the global wearable fitness trackers market, in 2017. This leading position of the category is majorly attributed to its design, cost, ease of use and functionality. Increasing adoption of wrist-wear fitness trackers for fitness tracking and rising healthcare spending are some of the other factors driving the market demand.
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During the forecast period, the wearable fitness trackers industry is expected to witness fastest growth in Asia-Pacific (APAC), owing to the presence of local players providing low cost fitness tracker devices, rising adoption of fitness trackers due to increasing prevalence of chronic diseases, and surge in the number of internet users and e-shoppers.
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Globally, key players in the wearable fitness trackers industry are launching products to gain a larger market share. For instance, in January 2018, Garmin Ltd. unit Garmin International, Inc. launched the Approach X10, a golf band, to its wearable lineup which is compatible with the Garmin Golf app. The Approach X10 comes preloaded with data for over 41,000 golf courses around the world.
Also, in September 2017, Apple Inc. introduced a third-generation Apple Watch Series 3, with cellular connectivity. Apple Watch Series 3 allows users to stay connected, receive texts, track fitness, and make calls. The company introduced two models for Apple Watch Series 3—one with GPS and cellular, and the other with GPS, combined with the power of watchOS.
Some of the other major players operating in the wearable fitness trackers market include Fitbit Inc., Sony Corporation, Samsung Electronics Co. Ltd., Lumo Bodytech Inc., Xiaomi Inc., Fossil Group, Inc., Moov Inc., Sensoria Inc., TomTom International BV, and Motiv Inc.