Fitness Tracker Global Market Report 2024

Description

“Fitness Tracker Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on fitness tracker market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for fitness tracker? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The fitness tracker market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Device Type: Smart Watches; Fitness Band; Smart Glasses; Smart Clothing; Other Device Types
2) By Application: Heart Rate Tracking; Sleep Measurement; Glucose Measurement; Sports; Running; Cycling Tracking
3) By Distribution Channel: Online; Retail; Other Distribution Channel
Companies Mentioned: Fitbit Inc.; Apple Inc.; Garmin Ltd.; Google LLC; Huawei Technologies Co. Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

A fitness tracker is a device equipped with sensors that monitor orientation, movement, and rotation. It collects data and converts it into various metrics such as steps taken, calories burned, sleep quality, and overall daily activity of the wearer.

The primary device types in the fitness tracker market include smartwatches, fitness bands, smart glasses, smart clothing, and other device types. A smartwatch is a digital watch that offers additional features beyond timekeeping. Various applications associated with fitness trackers include heart rate tracking, sleep measurement, glucose measurement, as well as sports, running, and cycling tracking. Fitness trackers are typically distributed through online platforms, retail outlets, and other distribution channels.

The fitness tracker market research report is one of a series of new reports from The Business Research Company that provides fitness tracker market statistics, including fitness tracker industry global market size, regional shares, competitors with a fitness tracker market share, detailed fitness tracker market segments, market trends and opportunities, and any further data you may need to thrive in the fitness tracker industry. This fitness tracker market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The fitness tracker market size has grown exponentially in recent years. It will grow from $47.65 billion in 2023 to $57.77 billion in 2024 at a compound annual growth rate (CAGR) of 21.2%. The growth observed in the historical period can be attributed to several factors, including increased awareness of health and fitness, a shift towards wellness and preventive health practices, a demand for weight management solutions, the integration of health insurance and corporate wellness programs, and trends in sports and athleticism. These factors collectively contributed to the growth experienced in the historic period, reflecting a broader societal emphasis on maintaining a healthy and active lifestyle.

The fitness tracker market size is expected to see rapid growth in the next few years. It will grow to $116.48 billion in 2028 at a compound annual growth rate (CAGR) of 19.2%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing emphasis on sleep tracking and overall wellness, a focus on fitness among seniors and the elderly, the development of pediatric fitness trackers, enhanced ecosystem integration, and the inclusion of mental health monitoring features in fitness trackers. Major trends expected in the forecast period encompass the incorporation of wearable ECG and health tracking capabilities, the rise of remote health monitoring solutions, the integration of AI and data analytics, customization and personalization options for users, and an increased emphasis on fashion and design in fitness tracker products.

The anticipated rise in the prevalence of health disorders is set to drive the growth of the fitness tracker market in the foreseeable future. Health disorders, characterized by known physical causes and visible psychopathology, contribute significantly to global mortality. According to the World Health Organization's September 2022 data, non-communicable diseases (NCDs) or chronic diseases account for 74% of the 41 million deaths annually worldwide. Cardiovascular diseases, cancer, chronic respiratory diseases, and diabetes collectively represent a substantial portion of these health disorders. The use of fitness trackers, promoting regular physical activity, is positioned as a preventive measure against various health disorders, fostering the demand for fitness tracking solutions.

The increasing penetration of smartphones is expected to propel the fitness tracker market forward. Smartphones, multifunctional mobile devices with internet access, apps, and multimedia capabilities, have become ubiquitous. Fitness trackers complement smartphones by offering health and activity monitoring features, enabling users to manage their well-being through these mobile devices. As of February 2023, Uswitch Limited reported a 3.8% increase in mobile connections in the UK, reaching 71.8 million. The anticipated growth indicates that by 2025, around 95% of the UK population, approximately 65 million individuals, will own smartphones. This surge in smartphone penetration is a significant driver for the fitness tracker market, as users seek integrated health and fitness functionalities.

Technological advancement emerges as a prominent trend in the fitness tracker market, with major companies actively pursuing innovations to maintain their market positions. In April 2021, Fitbit, a prominent U.S.-based consumer electronics and fitness company operating in the fitness tracker market, introduced Fitbit Luxe. This fashion-forward health and wellness tracker incorporates essential features like heart and sleep tracking, breathing rate monitoring, and stress management. Notably, it integrates advanced technologies such as a blood oxygen sensor and color AMOLED display. Fitbit Luxe caters to consumer demands for both functionality and aesthetics, featuring a stainless-steel case, exemplifying the company's commitment to technological excellence in the fitness tracker market.

Leading companies in the fitness tracker market are actively introducing innovative products to fortify their market positions. In March 2023, Tricorder.Zero, a U.S.-based sensor health and fitness tracker provider, unveiled its state-of-the-art health and fitness tracker equipped with seven precise sensors. This cutting-edge device empowers users to monitor diverse health metrics, including visualizations of the ear, nose, throat, outer eye, and skin, infrared forehead temperature readings, heart rate, blood oxygenation, heart and lung sounds, EKG patterns, and body fat and muscle tone over a month. Enhanced by artificial intelligence (AI), the tracker provides alerts for abnormal readings, prompting users to seek professional advice. It also supports medication tracking and consolidates all data in a user-friendly app, ensuring end-to-end data security.

In January 2021, Google, a prominent U.S.-based technology company, completed the acquisition of Fitbit for $2.1 billion. This strategic move positions Google to broaden its fitness platform portfolio and enhance accessibility to health and wellness solutions for a wider audience. Fitbit, the acquired company, is a U.S.-based consumer electronics and fitness company renowned for its production of wireless-enabled wearable technology, including physical fitness monitors and activity trackers like smartwatches. The acquisition reflects Google's commitment to advancing its presence in the health and fitness technology sector.

Major companies operating in the fitness tracker market include Fitbit Inc., Apple Inc., Garmin Ltd., Google LLC, Huawei Technologies Co. Ltd., NIKE Inc., Samsung Electronics Co. Ltd., Xiaomi Inc., Adidas Inc., Jawbone, Polar Electro Oy, Beienda International Co. Limited, Ambiotex GmbH, Hexoskin, Fossil Group Inc., TomTom N.V., Huawei Technologies Co. Ltd., TomTom International BV, Misfit Inc., Moov Inc., Lumo Bodytech Inc., Atlas Wearables Inc., Basis Science Inc., Bragi GmbH, Casio Computer Co. Ltd., Catapult Sports Pty Ltd., Coros Wearables Inc., Epson America Inc., Jaybird LLC, LG Electronics Inc., LifeBEAM Technologies Ltd., Motorola Mobility LLC, Pebble Technology Corp., Razer Inc., Sony Corporation, Timex Group USA Inc., Under Armour Inc.

North America was the largest region in the fitness tracker market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fitness tracker market share report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the fitness tracker market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The fitness tracker market consists of sales of basic fitness trackers, heart rate monitoring trackers, and heart rate monitoring trackers with GPS. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r9593

1. Executive Summary

2. Fitness Tracker Market Characteristics

3. Fitness Tracker Market Trends And Strategies

4. Fitness Tracker Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Fitness Tracker Market Size and Growth

5.1. Global Fitness Tracker Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Fitness Tracker Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Fitness Tracker Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Fitness Tracker Market Segmentation

6.1. Global Fitness Tracker Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Smart Watches
Fitness Band
Smart Glasses
Smart Clothing
Other Device Types
6.2. Global Fitness Tracker Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Heart Rate Tracking
Sleep Measurement
Glucose Measurement
Sports
Running
Cycling Tracking
6.3. Global Fitness Tracker Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Online
Retail
Other Distribution Channel

7. Fitness Tracker Market Regional And Country Analysis

7.1. Global Fitness Tracker Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Fitness Tracker Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Fitness Tracker Market

8.1. Asia-Pacific Fitness Tracker Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Fitness Tracker Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Fitness Tracker Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Fitness Tracker Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Fitness Tracker Market

9.1. China Fitness Tracker Market Overview
9.2. China Fitness Tracker Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Fitness Tracker Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Fitness Tracker Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Fitness Tracker Market

10.1. India Fitness Tracker Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Fitness Tracker Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Fitness Tracker Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Fitness Tracker Market

11.1. Japan Fitness Tracker Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan Fitness Tracker Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Fitness Tracker Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Fitness Tracker Market

12.1. Australia Fitness Tracker Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Fitness Tracker Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Fitness Tracker Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Fitness Tracker Market

13.1. Indonesia Fitness Tracker Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Fitness Tracker Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Fitness Tracker Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Fitness Tracker Market

14.1. South Korea Fitness Tracker Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea Fitness Tracker Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Fitness Tracker Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Fitness Tracker Market

15.1. Western Europe Fitness Tracker Market Overview
15.2. Western Europe Fitness Tracker Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Fitness Tracker Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Fitness Tracker Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Fitness Tracker Market

16.1. UK Fitness Tracker Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Fitness Tracker Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Fitness Tracker Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Fitness Tracker Market

17.1. Germany Fitness Tracker Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Fitness Tracker Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Fitness Tracker Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Fitness Tracker Market

18.5. France Fitness Tracker Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.6. France Fitness Tracker Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.7. France Fitness Tracker Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Fitness Tracker Market

19.9. Italy Fitness Tracker Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy Fitness Tracker Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy Fitness Tracker Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Fitness Tracker Market

20.13. Spain Fitness Tracker Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain Fitness Tracker Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain Fitness Tracker Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Fitness Tracker Market

21.1. Eastern Europe Fitness Tracker Market Overview
21.2. Eastern Europe Fitness Tracker Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Fitness Tracker Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Fitness Tracker Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Fitness Tracker Market

22.1. Russia Fitness Tracker Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Fitness Tracker Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Fitness Tracker Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Fitness Tracker Market

23.1. North America Fitness Tracker Market Overview
23.2. North America Fitness Tracker Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Fitness Tracker Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Fitness Tracker Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Fitness Tracker Market

24.1. USA Fitness Tracker Market Overview
24.2. USA Fitness Tracker Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Fitness Tracker Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Fitness Tracker Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Fitness Tracker Market

25.1. Canada Fitness Tracker Market Overview
25.2. Canada Fitness Tracker Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Fitness Tracker Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Fitness Tracker Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Fitness Tracker Market

26.1. South America Fitness Tracker Market Overview
26.2. South America Fitness Tracker Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Fitness Tracker Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Fitness Tracker Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Fitness Tracker Market

27.1. Brazil Fitness Tracker Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Fitness Tracker Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Fitness Tracker Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Fitness Tracker Market

28.1. Middle East Fitness Tracker Market Overview
28.2. Middle East Fitness Tracker Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Fitness Tracker Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Fitness Tracker Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Fitness Tracker Market

29.1. Africa Fitness Tracker Market Overview
29.2. Africa Fitness Tracker Market, Segmentation By Device Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Fitness Tracker Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Fitness Tracker Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Fitness Tracker Market Competitive Landscape And Company Profiles

30.1. Fitness Tracker Market Competitive Landscape
30.2. Fitness Tracker Market Company Profiles
- 30.2.1. Fitbit Inc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Apple Inc.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Garmin Ltd.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Google LLC
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Huawei Technologies Co. Ltd.
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Fitness Tracker Market Competitive Benchmarking

32. Global Fitness Tracker Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Fitness Tracker Market

34. Fitness Tracker Market Future Outlook and Potential Analysis

34.1 Fitness Tracker Market In 2028 - Countries Offering Most New Opportunities
34.2 Fitness Tracker Market In 2028 - Segments Offering Most New Opportunities
34.3 Fitness Tracker Market In 2028 - Growth Strategies
34.3.1 Market Trend Based Strategies
34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer