Global Wearable Fitness Trackers Market Report 2023-2028 Featuring Apple, Fossil, Garmin, Samsung, Google, Huawei, Nike, Sensoria, Xiaomi, and TomTom

DUBLIN, April 10, 2023 /PRNewswire/ -- The "Wearable Fitness Trackers Market- Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028FSegmented By Product Type, By End User, By Distribution Channel, By Region" report has been added to  ResearchAndMarkets.com's offering.

The global wearable fitness trackers market is anticipated to grow with an impressive CAGR during the forecast period

The industry is growing as a result of increased funding for plans to develop cutting-edge technology that would benefit healthcare and fitness. A wearable fitness tracker may have multiple activity trackers, depending on the user's needs.

These trackers include goal setting, sleep tracking, activity tracking, calorie tracking, heart monitoring, and step counting. Customers can link a wearable fitness tracker to their smartphone or the internet to track their fitness data over time and share it with other fitness lovers.

Monitoring and keeping track of daily fitness activities, such as steps taken, calories burned, distance traveled, and others, is made easy with the help of wearable fitness trackers. Around 533.6 million units of watches, wristbands, and other wearables were shipped globally in 2021.

A 20% increase year over a year suggests that the market is expanding. Simple Bluetooth or wireless networking connections are available for wearable fitness trackers and smartphones. As a result, one of the most important factors driving the growth of the global market is the rise in demand for wireless sports and fitness equipment.

Currently, there are many international firms competing to provide cutting-edge fitness trackers that will rule the industry. IoT, AI, and wireless connectivity are among the cutting-edge elements these players implement into their goods.

Consumer awareness of health monitoring is widely spread through the use of wearable fitness trackers. These devices provide numerous health advantages, including heart rate monitoring, sleep monitoring, step monitoring, and pulse monitoring.

Technological Advancement Fuels Market Growth

A new device that is frequently used in the present day is the wearable fitness tracker. In an effort to have the edge over others, many international businesses are competing to provide cutting-edge fitness trackers.

These companies use cutting-edge features like wireless networking, artificial intelligence, and IoT in their products. Wearable fitness trackers are frequently used to raise consumer awareness of health monitoring. These watches provide a number of health advantages, including the ability to track pulse, steps, sleep, and heart rate.

For instance, the Apple Watch Series 8 includes the most third-party apps of any smartwatch, including Runkeeper, Strava, and Nike Run Club, in addition to a comprehensive set of built-in health, fitness, and safety features.

Heart rate zone information, a new Multisport tracking option for triathletes, and support for Custom Workouts are all features of its watchOS 9 operating system. It can display real-time power, stride length, ground contact time, and vertical oscillation while tracking a run.

Increasing Mergers & Acquisitions Among Companies Propels Market Growth

In 2021, Google completed the acquisition of Fitbit. Fitbit has aided people all around the world in leading healthier, more active lives for more than ten years. Being a clear pioneer in the field, Fitbit developed a thriving community of over 29 million active users by producing incredible wearable technology and engaging wellness experiences.

Fitbit Sense, the brand's most recent and technologically advanced health and fitness wristwatch, has stress-relieving features and fresh methods to manage heart health, like an ECG app to check heart rhythm for indicators of atrial fibrillation (AFib). Additionally, HRX, an Indian fitness company owned by actor Hrithik Roshan and Exceed Entertainment, teams up with Noise.

The partnership introduced a line of fitness trackers that were created with the demands of GenZ and millennials in mind. For comprehensive care when traveling, it is furnished with notable features, including a sleep cycle tracker, heart rate and blood pressure monitor, smart DND, and noise health suite.

Additionally, it gives noisemakers access to more than 100 cloud-based, customized watch faces.

Product Launches Fuels Market Growth

Companies are launching new products for health-conscious consumers. Consumer demand for these products is rising at a robust pace, which is further prompting companies to expand their product portfolios in order to cater to consumer demand. For instance, the newest generation of Fitbit's fitness wearables will be introduced in India in 2022.

The Fitbit company introduced the Fitbit Inspire 3, Fitbit Versa 4, and Fitbit Sense 2 in the nation. The new Fitbit Inspire 3, Versa 4, and Fitbit Sense 2 all have updated designs that make them more comfortable to wear for extended periods of time. This factor is anticipated to further enhance the market growth during the forecast period.

Competitive Landscape

Detailed analysis of the major companies present in the global wearable fitness trackers market.

• Apple Inc
• Fossil Group, Inc
• Garmin Ltd.
• Samsung Electronics Co., Ltd.
• Google LLC (Alphabet Inc.)
• Huawei Technologies Co., Ltd.
• Nike, Inc.
• Sensoria Inc.
• Xiaomi Corporation.
• TomTom N.V.

Market Dynamics

Drivers

• Increasing consumer awareness regarding health benefits
• Increasing internet penetration
• Growing partnerships among various companies
• New product launches

Market Trends & Developments

• Increasing fitness trend
• Rising demand for activity tracking, calorie tracking, heart monitoring devices
• Increasing trend of smart watches

Challenges

• limited battery space
• High cost of wearable trackers

Report Scope:

Wearable Fitness Trackers Market, By Product Type:

• Wrist Wear
• Fitness Bands
• Footwear
• Wearable Fitness Trackers Market, End User:
• Sports Person
• Patients

 Wearable Fitness Trackers Market, By Distribution Channel:

• Offline
• Online

 Wearable Fitness Trackers Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• Russia
• France
• United Kingdom
• Italy
• Spain
• Asia-Pacific
• China
• India
• Japan
• Indonesia
• Vietnam
• Middle East & Africa
• Saudi Arabia
• Egypt
• UAE
• Turkey
• South America
• Brazil
• Argentina
• Colombia

For more information about this report visit https://www.researchandmarkets.com/r/e7hcjn

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