Fitness Tracker Market size to grow by USD 44,314.14 million from 2022 to 2027, The growing markets in emerging countries to drive market growth – Technavio

NEW YORK, May 19, 2023 /PRNewswire/ — The fitness tracker market size is estimated to increase by USD 44,314.14 million from 2022 to 2027. The market will progress with a CAGR of 16.14%, according to a recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report -Request a sample report

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. The Bargaining Power of Buyers & Suppliers and the Threat of New Entrants, Rivalry, and Substitutes have also been analyzed and rated between LOW-HIGH to provide a holistic view of market favorability.

Find Technavio’s Exclusive Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
• Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
• Furthermore, market adoption rates for all regions have been covered.

The addictions therapeutics market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed Below –

Alphabet Inc., Apple Inc., DO Technology Co. Ltd., Garmin Ltd., Hexoskin, Huawei Technologies Co. Ltd., Lenovo Group Ltd., Mensa Brand Technologies Pte Ltd., Moov Inc., Nike Inc., NURVV Ltd., Oura Health Oy, Samsung Electronics Co. Ltd., Sensoria Inc., Shenzhen Beienda Technology Co. Ltd., Sony Group Corp., Withings France SA, Xiaomi Communications Co. Ltd., Zepp Health Corp., and Fossil Group Inc.

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Fitness Tracker Market – Segmentation Analysis

This fitness tracker market report extensively covers market segmentation by application (running, cycling, heart rate tracking, stress management, and others), distribution channel (online and offline), and geography (North America, Europe, APAC, Middle East and Africa, and South America). 

• The market share growth by the running segment will be significant for overall market growth during the forecast period. Physical activity is an important part of everyday life and benefits like running include physical and mental rejuvenation through gentle thinking that promotes mental, physical, psychological, and emotional well-being and improves concentration, creativity, and cognitive abilities. Increased participation in outdoor and physical fitness activities like running increases the growth potential of the market. Thus, such factors fuel the segment growth for running fitness trackers during the forecast period.

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Fitness Tracker Market – Market Dynamics

Key Drivers

• Growing markets in emerging countries significantly drive the fitness tracker market growth. 
• Providers strive to develop and market their products in developing countries.
• The growing awareness of advanced technology in emerging markets leads to the use of innovative and advanced technologies in many applications, sectors, and industries.
• In order to enter such a market, manufacturers focus on enhancing their products with sleek designs and upgraded hardware.
• They also work to improve the battery life of these devices to make them a more attractive offer for such countries. 
• Hence, such drivers fuel the market growth during the forecast period.

Significant Trends

• New product launches are a key trend influencing the fitness tracker market growth. 
• Focusing on end-user requirements, the vendors develop fitness trackers based on the latest technological developments favored by customers. 
• For instance, Fitbit released its Fitbit Charge 4 which is a state-of-the-art health and fitness tracker with built-in GPS, Spotify, Fitbit Pay, active zone time, sleep tools, and more.
• Similarly, Apple Inc. redesigned the Apple Watch Series 4 to add an electrocardiogram (ECG) feature that provides a more detailed analysis of the user’s heart health.
• Hence, such trends fuel the market growth during the forecast period.

Major Challenges

• Security and privacy concerns are challenges that may hinder the fitness tracker market growth.
• Fitness trackers mostly collect personal and include user information such as weight, photos, date of birth, GPS coordinates, social data, steps taken, heart rate, and background data used by the device.
• Thus, if the person is exposed to a breach of privacy, they may be harmed.
• Moreover, fitness tracker users are probably unaware of the privacy implications of how data can be misused if it is collected over time or associated with other information. 
• Therefore, such security and privacy concerns hinder market growth during the forecast period.

Fitness Tracker Market – Geographic Analysis
The market is segmented by region North America, Europe, APAC, Middle East and Africa, and South America. An analysis of key leading countries has been included.

• North America is estimated to account for 39% of the global market growth. Demand for fitness trackers in the region is driving the market. The US, which is an early adopter of new inventions and technologies is now a major market for these devices. Furthermore, the region is home to several fitness tracker manufacturers, including Apple, Garmin, and Alphabet (Fitbit). The manufacturers focus on developing new products and improving the functionality of existing products. Thus, new product launches by vendors operating in the market will drive the growth of the market in this region during the forecast period. 

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What are the key data covered in this Fitness Tracker Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the fitness tracker market between 2023 and 2027
• Precise estimation of the size of the fitness tracker market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the fitness tracker market across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of fitness tracker market vendors

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The fitness app market size is estimated to grow at a CAGR of 17.1% between 2022 and 2027. The market size is forecast to increase by USD 45.16 billion. This fitness app market report extensively covers market segmentation by gender (female and male), application (lifestyle monitoring, health monitoring, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa). The increasing awareness about the benefits of a healthy lifestyle is notably driving market growth. 

The fitness and recreational sports centers market size is expected to increase by USD 106.64 billion from 2021 to 2026, at a CAGR of 12.35%. Furthermore, this report extensively covers fitness and recreational sports centers’ market segmentation by end-user (men and women) and geography (North America, APAC, Europe, Middle East and Africa, and South America). The surge in healthcare costs is notably driving the fitness and recreational sports centers market growth.

Table of Contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary Chart on Market Overview
• Exhibit 02: Executive Summary Data Table on Market Overview
• Exhibit 03: Executive Summary Chart on Global Market Characteristics
• Exhibit 04: Executive Summary Chart on Market by Geography
• Exhibit 05: Executive Summary Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary Chart on Market Segmentation by Distribution Channel
• Exhibit 07: Executive Summary Chart on Incremental Growth
• Exhibit 08: Executive Summary Data Table on Incremental Growth
• Exhibit 09: Executive Summary Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global fitness tracker market 2017 – 2021 
• Exhibit 18: Historic Market Size Data Table on Global fitness tracker market 2017 – 2021 ($ million)

• 4.2 Application Segment Analysis 2017 – 2021 
• Exhibit 19: Historic Market Size Application Segment 2017 – 2021 ($ million)

• 4.3 Distribution Channel Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size Distribution Channel Segment 2017 – 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size Geography Segment 2017 – 2021 ($ million)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments
• Exhibit 30: Chart on Application – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application – Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Running – Market size and forecast 2022-2027 
• Exhibit 34: Chart on Running – Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Running – Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Running – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Running – Year-over-year growth 2022-2027 (%)

• 6.4 Cycling – Market size and forecast 2022-2027 
• Exhibit 38: Chart on Cycling – Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Cycling – Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Cycling – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Cycling – Year-over-year growth 2022-2027 (%)

• 6.5 Heart rate tracking – Market size and forecast 2022-2027 
• Exhibit 42: Chart on Heart rate tracking – Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Heart rate tracking – Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Heart rate tracking – Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Heart rate tracking – Year-over-year growth 2022-2027 (%)

• 6.6 Stress management – Market size and forecast 2022-2027 
• Exhibit 46: Chart on Stress management – Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Stress management – Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Stress management – Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Stress management – Year-over-year growth 2022-2027 (%)

• 6.7 Others – Market size and forecast 2022-2027 
• Exhibit 50: Chart on Others – Market size and forecast 2022-2027 ($ million)
• Exhibit 51: Data Table on Others – Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Chart on Others – Year-over-year growth 2022-2027 (%)
• Exhibit 53: Data Table on Others – Year-over-year growth 2022-2027 (%)

• 6.8 Market opportunity by Application 
• Exhibit 54: Market opportunity by Application ($ million)
• Exhibit 55: Data Table on Market opportunity by Application ($ million)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments
• Exhibit 56: Chart on Distribution Channel – Market share 2022-2027 (%)
• Exhibit 57: Data Table on Distribution Channel – Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 58: Chart on Comparison by Distribution Channel
• Exhibit 59: Data Table on Comparison by Distribution Channel

• 7.3 Online – Market size and forecast 2022-2027 
• Exhibit 60: Chart on Online – Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Online – Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Online – Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Online – Year-over-year growth 2022-2027 (%)

• 7.4 Offline – Market size and forecast 2022-2027 
• Exhibit 64: Chart on Offline – Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on Offline – Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on Offline – Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Offline – Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel 
• Exhibit 68: Market opportunity by Distribution Channel ($ million)
• Exhibit 69: Data Table on Market opportunity by Distribution Channel ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 North America – Market size and forecast 2022-2027 
• Exhibit 75: Chart on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027 
• Exhibit 79: Chart on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 APAC – Market size and forecast 2022-2027 
• Exhibit 83: Chart on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 87: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.7 South America – Market size and forecast 2022-2027 
• Exhibit 91: Chart on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.8 US – Market size and forecast 2022-2027 
• Exhibit 95: Chart on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.9 France – Market size and forecast 2022-2027 
• Exhibit 99: Chart on France – Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on France – Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on France – Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on France – Year-over-year growth 2022-2027 (%)

• 9.10 China – Market size and forecast 2022-2027 
• Exhibit 103: Chart on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.11 Germany – Market size and forecast 2022-2027 
• Exhibit 107: Chart on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.12 Japan – Market size and forecast 2022-2027 
• Exhibit 111: Chart on Japan – Market size and forecast 2022-2027 ($ million)
• Exhibit 112: Data Table on Japan – Market size and forecast 2022-2027 ($ million)
• Exhibit 113: Chart on Japan – Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on Japan – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 115: Market opportunity by geography ($ million)
• Exhibit 116: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.3 Impact of drivers and challenges 
• Exhibit 117: Impact of drivers and challenges in 2022 and 2027

11 Vendor Landscape

• 11.2 Vendor landscape
• Exhibit 118: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 119: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 120: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 121: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 122: Matrix on vendor position and classification

• 12.3 Alphabet Inc.
• Exhibit 123: Alphabet Inc. – Overview
• Exhibit 124: Alphabet Inc. – Business segments
• Exhibit 125: Alphabet Inc. – Key news
• Exhibit 126: Alphabet Inc. – Key offerings
• Exhibit 127: Alphabet Inc. – Segment focus

• 12.4 Apple Inc.
• Exhibit 128: Apple Inc. – Overview
• Exhibit 129: Apple Inc. – Business segments
• Exhibit 130: Apple Inc. – Key news
• Exhibit 131: Apple Inc. – Key offerings
• Exhibit 132: Apple Inc. – Segment focus

• 12.5 DO Technology Co. Ltd. 
• Exhibit 133: DO Technology Co. Ltd. – Overview
• Exhibit 134: DO Technology Co. Ltd. – Product / Service
• Exhibit 135: DO Technology Co. Ltd. – Key offerings

• 12.6 Fossil Group Inc.
• Exhibit 136: Fossil Group Inc. – Overview
• Exhibit 137: Fossil Group Inc. – Business segments
• Exhibit 138: Fossil Group Inc. – Key offerings
• Exhibit 139: Fossil Group Inc. – Segment focus

• 12.7 Garmin Ltd.
• Exhibit 140: Garmin Ltd. – Overview
• Exhibit 141: Garmin Ltd. – Business segments
• Exhibit 142: Garmin Ltd. – Key offerings
• Exhibit 143: Garmin Ltd. – Segment focus

• 12.8 Huawei Technologies Co. Ltd. 
• Exhibit 144: Huawei Technologies Co. Ltd. – Overview
• Exhibit 145: Huawei Technologies Co. Ltd. – Business segments
• Exhibit 146: Huawei Technologies Co. Ltd. – Key news
• Exhibit 147: Huawei Technologies Co. Ltd. – Key offerings
• Exhibit 148: Huawei Technologies Co. Ltd. – Segment focus

• 12.9 Lenovo Group Ltd.
• Exhibit 149: Lenovo Group Ltd. – Overview
• Exhibit 150: Lenovo Group Ltd. – Business segments
• Exhibit 151: Lenovo Group Ltd. – Key offerings
• Exhibit 152: Lenovo Group Ltd. – Segment focus

• 12.10 Mensa Brand Technologies Pte Ltd. 
• Exhibit 153: Mensa Brand Technologies Pte Ltd. – Overview
• Exhibit 154: Mensa Brand Technologies Pte Ltd. – Product / Service
• Exhibit 155: Mensa Brand Technologies Pte Ltd. – Key offerings

• 12.11 Nike Inc.
• Exhibit 156: Nike Inc. – Overview
• Exhibit 157: Nike Inc. – Business segments
• Exhibit 158: Nike Inc. – Key news
• Exhibit 159: Nike Inc. – Key offerings
• Exhibit 160: Nike Inc. – Segment focus

• 12.12 NURVV Ltd.
• Exhibit 161: NURVV Ltd. – Overview
• Exhibit 162: NURVV Ltd. – Product / Service
• Exhibit 163: NURVV Ltd. – Key offerings

• 12.13 Samsung Electronics Co. Ltd. 
• Exhibit 164: Samsung Electronics Co. Ltd. – Overview
• Exhibit 165: Samsung Electronics Co. Ltd. – Business segments
• Exhibit 166: Samsung Electronics Co. Ltd. – Key news
• Exhibit 167: Samsung Electronics Co. Ltd. – Key offerings
• Exhibit 168: Samsung Electronics Co. Ltd. – Segment focus

• 12.14 Sony Group Corp.
• Exhibit 169: Sony Group Corp. – Overview
• Exhibit 170: Sony Group Corp. – Business segments
• Exhibit 171: Sony Group Corp. – Key news
• Exhibit 172: Sony Group Corp. – Key offerings
• Exhibit 173: Sony Group Corp. – Segment focus

• 12.15 Withings France SA
• Exhibit 174: Withings France SA – Overview
• Exhibit 175: Withings France SA – Product / Service
• Exhibit 176: Withings France SA – Key offerings

• 12.16 Xiaomi Communications Co. Ltd. 
• Exhibit 177: Xiaomi Communications Co. Ltd. – Overview
• Exhibit 178: Xiaomi Communications Co. Ltd. – Business segments
• Exhibit 179: Xiaomi Communications Co. Ltd. – Key news
• Exhibit 180: Xiaomi Communications Co. Ltd. – Key offerings
• Exhibit 181: Xiaomi Communications Co. Ltd. – Segment focus

• 12.17 Zepp Health Corp.
• Exhibit 182: Zepp Health Corp. – Overview
• Exhibit 183: Zepp Health Corp. – Business segments
• Exhibit 184: Zepp Health Corp. – Key offerings
• Exhibit 185: Zepp Health Corp. – Segment focus

13 Appendix

• 13.2 Inclusions and exclusions checklist 
• Exhibit 186: Inclusions checklist
• Exhibit 187: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 188: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 189: Research methodology
• Exhibit 190: Validation techniques employed for market sizing
• Exhibit 191: Information sources

• 13.5 List of abbreviations 
• Exhibit 192: List of abbreviations

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