Wearable Fitness Trackers Market Trends, Share and Future Scope

1. Global Wearable Fitness Trackers Market Size, Share and Future Scope

2. The global wearable fitness trackers market is expected to register massive growth during the forecast period (2018–2023), with a CAGR of 16.5%. The mushrooming sales of wearable fitness trackers, as a result of their escalating global demand, are expected to result in $48.2 billion revenue by 2023. In simple terms, a fitness or activity tracker monitors how well people are working on their fitness, by measuring the distance traveled, calories burnt, and also the heart rate. Many of the modern-day activity trackers are synced to a smartphone, which is why the increasing downloads of fitness apps is significant. Explore report sample at: https://www.psmarketresearch.com/market-analysis/wearable-fitness-trackers-market/report-sample “

3. Since the last few years, there has been a massive surge in the demand for wireless and continuous-health-monitoring systems and devices, primarily due to the quick growth of the geriatric population and the diseases and ailments associated with age that require continuous monitoring. In addition to this, the rising adoption of unfavorable reimbursement policies by healthcare payers and insurance firms is making modern medical devices unaffordable for a large chunk of the population, which is, in turn, propelling the popularity of wearable fitness trackers. Several variants of wearable fitness trackers are now available for purchase: smart garments and body sensors, leg-wear, and wrist-wear. Amongst these, smart garments and body sensors, on account of the rising collaboration of fitness, fashion, and high-tech companies, are expected to record the fastest growth in demand in the near future. Wearable fitness trackers are sold in the market through direct and indirect distribution channels. Owing to the skyrocketing number of online stores and the rising popularity of the online shopping concept, indirect distribution channels recorded higher sales in 2017.

4. An increasing number of product launches and cross compatibility and integration of personal assistance and personal health apps are being observed in the wearable fitness trackers market. The prominent companies manufacturing such devices are frequently launching new and innovative products, primarily to achieve their aim of expanding their global presence and product portfolio. For instance, Garmin International Inc., owned by Garmin Ltd., launched the Approach X10, a golf band variant of its wearable devices, in January 2018, which is compatible with the company’s golf app. Browse full report at: https://www.psmarketresearch.com/market-analysis/wearable-fitness-trackers-market

5. Geographically, North America was the region which recorded the largest sale of such devices during 2013–2017. This was a result of the presence of prominent consumer electronics companies, such as Fitbit Inc., Apple Inc., and Fossil Group Inc., high frequency of chronic diseases, growing adoption of fitness trackers for health monitoring, and rising healthcare expenditure in the region. In the coming years, people in Asia-Pacific (APAC) are expected to purchase these devices at the highest rate, as the internet penetration is rapidly rising here. Pre-Purchase Inquiry at: https://www.psmarketresearch.com/send-enquiry?enquiry-url=wearable-fitness-trackers-market

6. Some of the major players operating in the wearable fitness trackers market include Fitbit Inc., Sony Corporation, Samsung Electronics Co. Ltd., LumoBodytech Inc., Xiaomi Inc., Fossil Group, Inc., Moov Inc., Sensoria Inc., TomTom International BV, and Motiv Inc.

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