Smart Fitness Devices Market Introduction
As consumers are trending towards more health-conscious routine, they are spending majority of their time on fitness activities. This is creating demand for autonomous fitness devices such as smart watches, smart wristbands, and activity trackers that can deliver real-time updates on steps walked, heart beats, distance covered, and calories burned to users. In addition, these devices can be connected to Internet through third party tools, wirelessly. Smart fitness devices are autonomous in nature are user-friendly.
Drivers and Restraints
Growing awareness concerning health is driving the adoption of smart fitness devices especially in emerging markets such as India, China, and Brazil. In addition, expected fall in price of smart fitness devices such as wristbands and smart watches is another key growth factor. However, lack of efficient distribution network and lack of standardization are some of the factors that are anticipated to impede the overall smart fitness devices market growth.
In recent years, smart fitness devices have become tools of choice for fitness enthusiast. In addition, other smart fitness devices such as wireless activity trackers and fitness monitors have become popular among consumers. This is attributed to various benefits such as synchronization of daily workout to smartphone apps, timely health tips, and updates offered by these smart fitness accessories.
Smart fitness devices market is segmented into accessories type and price range.
a) Accessories Type
- Smart Watch
- Smart Wristband
- Chest Trap
- Fitness Monitors
b) Price Range
Key regions targeted in the smart fitness devices market are North America, Western Europe, Latin America, Eastern Europe, Asia Pacific, and Middle East & Africa (MEA). In terms of revenue share, North America is the largest market, followed by Western Europe. Spending on smart fitness devices in Asia Pacific region is expected to expand at the highest CAGR during the forecast period from 2017 to 2023. This is mainly attributed to expansion in urban population in the region.
Smart Fitness Devices Market Competitive Landscape
Product innovation and new product launch through investment in research and development activities and geographical expansion are some of the major strategies followed by prominent players operating in the smart fitness devices market in order to expand their product portfolio and outperform competitors. Major players operating in the smart fitness devices market are Fitbit Incorporation, Pebble Incorporation, Samsung Electronics Co. Ltd., Shanda Group, Sony Corporation, Nike Incorporation, Xiaomi Inc., and Garmin International Inc.
The research study would provide an in-depth assessment of the smart fitness devices market and include reliable analysis, insights, facts and industry-validated market estimation and projections, supplemented by appropriate assumptions, methodologies, and approaches. Insights and analysis on various market segments such as by accessories type, price range, and region included in this research report scope.
Major Regions/Countries include:
- North America
- Western Europe
- United Kingdom
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific (APAC)
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa (MEA)
- North Africa
- South Africa
This research report on smart fitness devices market would be produced using first-hand market information gathered from industry experts and major participants across the value chain, during primary research. It would provide broad view of current market trends, growth factors and competitive analysis.