NEW YORK, April 5, 2016 /PRNewswire/ -- "Increasing awareness about fitness and rise in disposable incomes in developing economies is driving the market"
The wearable fitness technology market is expected to reach USD 12.44 billion by 2022, at a CAGR of 13.7% between 2016 and 2022. There is an increasing demand for wearable fitness technology products such as wristbands and smartwatches because of consumer preference for smart gadgets, increasing popularity of wearable fitness and medical devices, increasing awareness about fitness, and a rise in disposable incomes in developing economies.
"Displays held the largest share of the wearable fitness technology market in 2015"
A display being the most expensive part of a wearable device, its market size is larger than other components. Also, display technology is evolving day by day, and new technologies such as organic light-emitting diode (OLED), active-matrix organic light-emitting diode (AMOLED), tactile/haptic touch, and more are being incorporated in new products by companies.
In the process of determining and verifying the market size for several segments and sub-segments gathered through the secondary research, extensive primary interviews were conducted with key people. Breakup of the profile of primary participants is given below:
- By Company Type: Tier 1 – 35%, Tier 2 – 40% and Tier 3 – 25%
- By Designation: C-level – 35%, Director level – 25%, Others – 40%
- By Region: Americas – 43%, Europe – 19%, APAC – 29%, RoW – 9%
Various key market players profiled in the report are as follows:
- Adidas AG (Germany)
- Apple, Inc. (U.S.)
- Fitbit, Inc. (U.S.)
- Garmin, Ltd. (Switzerland)
- Google, Inc. (U.S.)
- Jawbone, Inc. (U.S.)
- LG Electronics Inc. (South Korea)
- Nike, Inc. (U.S.)
- Pebble Technology Corp. (U.S.)
- Qualcomm, Inc. (U.S.)
- Samsung Electronics Co., Ltd. (South Korea)
- Sony Corporation (Japan)
- Xiaomi Technology Co., Ltd. (China)
The report will help the companies in this market in the following ways:
- The report segments the wearable fitness technology market comprehensively and provides the closest approximations of the size of the overall market and the subsegments across regions.
- The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders to better understand the competitor and gain more insights to better their position in the business.
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