The global smart fitness devices market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period. Key factors driving market revenue growth are rapid urbanization, increasing healthcare spending, technological advancements, and rising disposable income.
An activity tracker, often known as a fitness tracker, is a gadget or software that monitors and tracks fitness-related data including distance walked or ran, calorie consumption, and, in some circumstances, heart rate. This device is a form of computer that a user can wear on the body. Smartwatches that are linked, in many cases wireless, to a computer or smartphone for long-term data tracking are gaining momentum. In addition to this, rising demand for other fitness devices such as smart clothes, smart footwear, Fitbit, collar mounts for dogs, earbuds, and body media is expected to support market growth going ahead.
Top Companies Operating in the Global Smart Fitness Devices Market Report:
- Gramin Ltd
- Apple Inc
- Fitbit, Inc.
- Pebble Technology Corp
- Samsung Electronics Co Ltd
- Google Inc.
- Xiaomi Technology Co., Ltd.
- Jawbone
- Nike
- Bose
- Other
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Revenue growth in the global consumer goods market is primarily due to factors such as the rapid increase in the world population, the growing demand for food and other essential goods, including healthcare nutrition, personal care hygiene, and electronic products. Consumer preferences and lifestyles are changing significantly, the demand for packaged and processed food and beverage products is rising, and the number of people working is increasing. There has been a rapid adoption of cutting-edge technologies such as artificial intelligence (AI), IoT (Internet of Things), big data analytics, robotics automation in the consumer goods industry. Other key factors driving the growth of the global consumer goods market include a growing awareness of the adverse environmental impacts of plastic packaging and a growing demand for eco-friendly and sustainable packaging solutions. Rising income levels in developing economies such as India and stringent government regulations for product quality and safety are expected to boost market revenue growth in the near future.
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Further market segmentation
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Smartwatch
- Head-mounted Display
- Smart Clothing
- Ear Worn
- Fitness Tracker
- Body Worn Camera
- Exoskeleton
- Medical Devices
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Head-wear
- Torso-wear
- Hand-wear
- Leg-wear
- Bike mount
- Others
Key Takeaways of the Global Smart Fitness Devices Market Report:
- A comprehensive overview of the global Smart Fitness Devices industry.
- Accurate market projections in terms of market size, share, and volume.
- Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
- Deep-dive analysis of the upcoming market trends.
- Qualitative and quantitative analyses of the global Smart Fitness Devices market.
- Elaborate study of the leading regional markets in the global Smart Fitness Devices market.
- Complete overview of the market’s competitive landscape.
- Brief look at the company profiles and portfolios.
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