Global Fitness Tracker Market to Grow at a CAGR of 17.5% During 2024-2032, Aided by the Growing Awareness Regarding Benefits of Optimal Health

The increasing prevalence of various health adversaries and the growing awareness regarding the benefits of optimal health are propelling the market growth of fitness tracker. As consumers are increasingly preferring fashionable sensors, leading companies are developing sleeker and designer fitness trackers, which is driving the market growth. Moreover, the introduction of new features such as monitoring heart rate is increasing the accuracy of tracking calories and steps, among others, of fitness trackers, which is further surging their demand. The development of innovative fitness trackers to provide meaningful insights into sugar and hydration levels is expected to drive the growth of the market.

Apple Inc. (NASDAQ: AAPL), one of the leading companies in the market, introduced Apple Watch Series 7 with advanced display in September 2021. The watch features a user interface that is optimised for ease of usage and readability while complementing 33% faster charging. It offers various significant health and wellness tools and features an ECG app and electrical heart sensor as well as a blood oxygen sensor and app. It aids users to maintain healthy and active lifestyles by connecting them with its new Mindfulness app, new workout types, and innovative accessibility features. Moreover, the watch deploys complex algorithms to analyse heart rate, global positioning system, accelerometer, and gyroscope data to initiate an Outdoor cycling workout. The company is also planning various new and innovative programs to boost its offerings in health and wellness segments. Such innovative products are expected to propel the growth of the fitness tracker market in the forecast period.

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Market Analysis by Type, Application, Distribution Channel, and Region:

• The market, on the basis of type, can be divided into smart watches, fitness bands, and smart clothing, among others.

• Based on applications, the market can be divided into heart rate tracking, sleep monitoring, glucose monitoring, sports, running, and cycling tracking.

• The distribution channels for fitness tracker include online and offline.

• The regional markets for fitness tracker include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The increasing health-consciousness and the growing inclination towards active lifestyles are surging the demand for fitness trackers, hence augmenting the market growth.

• The market is being aided by the development of cost-effective fitness trackers, the demand for which is surging among the growing middle-class population in developing countries.

• The rising demand for innovative fitness trackers that can track blood sugar, heart rate, as well as metabolites and electrolytes in sweat to detect potential health-related issues is augmenting the market growth.

• The increasing research and development (R&D) activities for the development of cost-effective and advanced smart clothing are expected to drive the market growth in the forecast period.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for fitness tracker for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the types, applications, distribution channels, and major regions of fitness tracker.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global fitness tracker market are Xiaomi Corporation, Samsung Electronics Co. Ltd., Huawei Technologies Co. Ltd, Google LLC, Fossil Group, Inc., IMAGINE MARKETING LTD. (BoAt), Sony Corporation, Moov Inc., LG Corporation, HTC Corporation, and Polar Electro Oy. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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