The global smart fitness market revenue totaled ~US$ 13 Bn in 2020, according to Future Market Insights (FMI). The overall smart fitness market size is expected to reach ~US$ 50 Bn by 2031, growing at a CAGR of 12% for 2021 – 31.
The rising demand for features such as keeping track of heart rate, workout time, distance covered, calories burned offered by smart fitness watches and fitness tracker is likely to propel smart fitness product sales.
Due to COVID-19 outbreak, the adoption of smart wearables has increased. Thanks to improved consciousness regarding health and wellness, digital fitness is gaining traction around the world. The smart fitness devices sales are around 30% of digital fitness device sales globally.
Request Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-36
Competitive Landscape
With the advancement in technology, players in the smart fitness industry are focusing on bringing new products to the market. The growth of the smart fitness devices market is accelerated by the growing demand for smart fitness gadgets such as smart wrist band and fitness trackers.
The increasing significance gained by health and fitness lately, is providing opportunities for the manufacturers to capitalize on.
Companies are growing their business year-over-year owing to the growing rising demand for smart fitness devices. Besides this product launches remain a chief strategy to offer advanced features and gain competitive edge.
Key Takeaways: Smart Fitness Market
- By component, the smart accessories segment is anticipated to account for the leading share in the global demand for smart fitness. The segment is estimated to grow at a robust CAGR through 2031.
- The adoption of smart accessories like smart watches is expected to rise at maximum pace. As per FMI, demand in this segment will increase by a 2X between 2021 and 2031.
- North America is expected to lead the market followed by Europe in 2021.
- South Asia & Pacific is anticipated to emerge as the fastest growing region between 2021 & 2031.
- The market in U.K. is expected to progress at a CAGR of around 15% through 2031.
- In the India, sales are expected to increase at a CAGR of nearly 18% over the next ten years.
Demand for Wearable Devices is Bolstering the Market Growth
The demand for wearable devices such as smart bands, smart watches, activity trackers integrated with AI capabilities is increasing as these devices help in detecting irregularities in health data and give early warnings for condition like heart disease or diabetes. AI-enabled wearable devices are gaining traction as they help in monitoring the health and give alerts about movements, incorrect posture, and other vital health factors.
Wearable device provides fitness, sleep, and recovery data to help an individual adopt a healthy lifestyle. Many smart watch vendors are adding blood oxygen sensors in their device as standard, ECG monitors, and other functionalities to provide warnings or early signs of potential ailment and make suggestions about improvement in health.
Demand for Wearable Devices is Bolstering the Market Growth
The demand for wearable devices such as smart bands, smart watches, activity trackers integrated with AI capabilities is increasing as these devices help in detecting irregularities in health data and give early warnings for condition like heart disease or diabetes. AI-enabled wearable devices are gaining traction as they help in monitoring the health and give alerts about movements, incorrect posture, and other vital health factors.
Wearable device provides fitness, sleep, and recovery data to help an individual adopt a healthy lifestyle. Many smart watch vendors are adding blood oxygen sensors in their device as standard, ECG monitors, and other functionalities to provide warnings or early signs of potential ailment and make suggestions about improvement in health.
Ask for Customization @
https://www.futuremarketinsights.com/customization-available/rep-gb-36
More Valuable Insights on Smart Fitness Market
FMI’s report on the smart fitness industry research is segmented into three major sections – component (smart accessories, strength training equipment, cardiovascular equipment, cross-training equipment), smart accessories (smart watches, smart bands, activity trackers, heart rate, monitor, pedometer, sleep quality monitor), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the smart fitness demand outlook.
Smart Fitness Outlook by Category
By Component:
- Smart Accessories
- Strength Training Equipment
- Cardiovascular Equipment
- Cross-training Equipment
By Smart Accessories:
- Smart Watches
- Smart Bands
- Activity Trackers
- Heart Monitor
- Pedometer
- Sleep Quality Monitor
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
Table of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
- Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
- Pricing Analysis
4.1. Pricing Analysis, By Product Type
4.2. Global Average Pricing Analysis Benchmark
Ask an Analyst @ https://www.futuremarketinsights.com/askus/rep-gb-36
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
