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New York, March 31, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Wearable Fitness Trackers Market Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F” – https:/ /www .reportlinker.com/p06438517/?utm_source=GNW
Segmented by Product Type (Wristbands, Fitness Bands, Footwear), by End User (Athlete, Patients), by Distribution Channel (Offline or Online), by Region
The global wearable fitness tracker market is expected to grow with an impressive CAGR during the forecast period. The industry is growing due to increased funding for advanced technology development plans that would benefit healthcare and fitness.
A wearable fitness tracker can have multiple activity trackers, depending on users’ 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 enthusiasts.
Monitoring and tracking 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, bracelets and other wearables were shipped globally in 2021. A 20% year-on-year increase suggests the market is expanding. Simple Bluetooth or wireless network connections are available for wearable fitness trackers and smartphones. Hence, 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, many international companies are competing to provide cutting-edge fitness trackers that will dominate the industry. IoT, AI, and wireless connectivity are some of the cutting-edge elements that these players are implementing in their products.
Consumer awareness of health monitoring is widespread through the use of wearable fitness trackers. These devices offer many health benefits, including heart rate monitoring, sleep monitoring, step monitoring, and pulse monitoring.
Technological advancement is fueling market growth
A new device frequently used these days is the wearable fitness tracker. In an effort to have the edge over the rest, many international companies are competing to provide cutting-edge fitness trackers.
These companies use advanced features such as wireless networking, artificial intelligence and IoT in their products. Wearable fitness trackers are frequently used to educate consumers about health monitoring.
These watches offer a number of health benefits, including the ability to track pulse, steps, sleep, and heart rate. For example, the Apple Watch Series 8 includes most third-party apps from all smartwatches, including Runkeeper, Strava, and Nike. Run Club, plus a full 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, length stride, ground contact time and vertical oscillation while following a run.
Increase in mergers and acquisitions between companies propels the growth of the market
In 2021, Google completed the acquisition of Fitbit. Fitbit has been helping people around the world lead healthier, more active lives for over a decade.
As the undisputed pioneer in the field, Fitbit has grown a thriving community of over 29 million active users by producing incredible wearable technology and engaging wellness experiences. new methods for managing heart health, such as 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, is teaming up with Noise. The partnership introduced a range of fitness trackers that were created with the demands of GenZ and millennials in mind.
For comprehensive care while traveling, it’s packed with great features including sleep cycle tracking, heart rate and blood pressure monitor, smart DND, and noise health suite. Plus, it gives noisemakers access to over 100 custom cloud-based watch faces.
Product launches fuel market growth
Companies are launching new products for health-conscious consumers. Consumer demand for these products is growing at a steady pace, providing more incentive for companies to expand their product portfolios to meet consumer demand.
For example, the latest generation of Fitbits fitness wearables will be introduced in India in 2022. The Fitbit company has introduced the Fitbit Inspire 3, Fitbit Versa 4 and Fitbit Sense 2 in the country.
The new Fitbit Inspire 3, Versa 4, and Fitbit Sense 2 all have updated designs that make them more comfortable to wear for long periods of time. This factor is expected to further enhance the market growth over the forecast period.
Market segmentation
The global wearable fitness tracker market is segmented into product type, end-user, distribution channel, and region. Based on product type, the market is segmented into wristbands, fitness wristbands and shoes.
Based on end user, the market is segmented into sportsmen and patients. Based on distribution channel, the market is segmented into offline and online.
Company Profile
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 NV are the major players in the global wearable fitness tracker market.
Report Scope:
In this report, the global wearable fitness tracker market has been segmented into the following categories, in addition to industry trends, which have also been detailed below:
Wearable Fitness Trackers Market, By Product Type:
o Wrist Wear
o Fitness bands
o Shoes
Wearable Fitness Tracker Market, End User:
o Sporty
o Patients
Wearable Fitness Tracker Market, By Distribution Channel:
Offline
on line
Wearable Fitness Tracker 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 and Africa
Saudi Arabia
Egypt
United Arab Emirates
Türkiye
South America
Brazil
Argentina
Colombia
Competitive landscape
Company Profiles: Detailed analysis of the major companies present in the global Wearable Fitness Tracker market.
Customizations available:
With the given market data, we offer customizations based on the specific needs of a business. The following customization options are available for the report:
Company Information
Detailed analysis and profiling of other market players (up to five).
Read the full report: https://www.reportlinker.com/p06438517/?utm_source=GNW
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