Pune, Aug. 03, 2020 (GLOBE NEWSWIRE) — The global fitness tracker market size is expected to reach USD 91.98 billion by 2027, exhibiting a CAGR of 15.2% during the forecast period. The rising adoption of wearable devices among the young population will significantly bolster healthy growth of the market, states Fortune Business Insights, in a report, titled “Fitness Tracker Market Size, Share & COVID-19 Impact Analysis, By Device Type (Smart Watches, Fitness Bands, Smart Glasses, Smart Clothing, and Others), By Application (Heart Rate Tracking, Sleep Measurement, Glucose Measurement, Sports, Running, Cycling Tracking), By Distribution Channel (Online, Retail, and Others), and Regional Forecast, 2020-2027” the market size stood at USD 30.41 billion in 2019.

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The report fitness tracker market comprises:

• Through analysis of the industry
• Key insights into the market
• Latest market trends and developments
• Crucial information on COVID-19
• Present and future market values

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Market Driver:

Sedentary Lifestyle of People to Spur Market Demand

The growing health issues such as obesity, lack of sleep, diabetes, and others because of the present deskbound generation will simultaneously create lucrative opportunities for the market during the forecast period. The growing emphasis on health and fitness to prevent major health conditions is expected to bode well for the market. The rising awareness about the importance of a healthy lifestyle will subsequently fuel the demand for fitness products, thus enabling the growth of the market. Additionally, an escalation in gym-goers and fitness enthusiasts has potentially spurred lucrative opportunities for the market.

Preference for Fitness During Pandemic to Positively Sway Market

The occurrence of COVID-19 has caused disturbance to the business of fitness trackers because of the interruption triggered in manufacturing, production, shipment, and sales of these products. However, the ongoing development of technologically advanced products by OEMs will cater to the demand for fitness amid the coronavirus epidemic. For Instance, Fitbit announced the launch of an innovative tracker, Fitbit Charge 4. The new device will assist and offer support to customers at home during this time.

Moreover, Fitbit is also providing a free 90-day trial and access to premium content, thus leading to more premium subscribers. Similarly, the growing demand for fitness products during COVID-19 will improve sales of fitness trackers through online mediums, hence boosting the market. Besides, the enormous research and development activities by major brands to incorporate technologies in devices that can identify and track infectious diseases such as COVID-19 will further enhance market potential.

The coronavirus incident has disturbed various industries across the globe. The governments of several countries have instigated lockdown to prevent the spread of this infectious disease. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.

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Regional Analysis:

Surging Obese Population to Aid Expansion in Europe

The market size in North America stood at USD 14.57 billion in 2019 and is expected to account for the largest share during the forecast period. The growth in the region is attributed to the growing health issues such as chronic diseases among the general population. Europe is expected to witness a substantial growth rate during the forecast period due to the growing obesity in the region. The market in Asia Pacific is expected to rise tremendously in the foreseeable future due to the growing adoption of tracking devices among the young population in countries such as Japan, China, and India. India accounts for 60% of the young people in Asia Pacific.

Significant Development:

October 2019: Fitbit signed a partnership agreement with Bristol-Myers Squibb-Pfizer alliance to address gaps in atrial fibrillation detection to accelerate diagnosis.

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List of the Leading Companies Operating in thr Fitness Tracker Market:

• Gramin Ltd (Kansas, United States)
• Apple Inc (California, United States)
• Fitbit, Inc. (California, United States)
• Pebble Technology Corp (California, United States)
• Samsung Electronics Co Ltd (Suwon-si, South Korea)
• Google Inc. (California, United States)
• Xiaomi Technology Co., Ltd. (Beijing, China)
• Jawbone (California, United States)
• Nike (Oregon, United States)
• Other Players

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Detailed Table of Content:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Définitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  •  Key Industry Trends
  • New Product Launch
  • Technological Advancements in Fitness Tracker Market
  • Key Industry Development (Mergers, Acquisitions, and Partnerships, etc.)
  • Impact of COVID-19 on the Fitness Tracker Market
• Global Fitness Tracker Market Analysis, Insights and Forecast, 2016-2027
  • Key Findings / Summary
  • Market Analysis, Insights and Forecast – By Device Type
    • Smart Watches
    • Fitness Band
    • Smart Glasses
    • Smart Clothing
    • Others
  • Market Analysis, Insights and Forecast – By Application
    • Heart Rate Tracking
    • Sleep Measurement
    • Glucose Measurement
    • Sports
    • Running
    • Cycling Tracking
  • Market Analysis, Insights and Forecast – By Distribution Channel
  • Market Analysis, Insights and Forecast – By Country
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

TOC Continued….!!!!

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