Future Market Insights (FMI) predicts that the worldwide smart fitness market will generate USD 13,122.3 million by 2022, including CISO guidance and assistance. The entire smart fitness market is estimated to be valued at USD 46,934.8 million by 2033, growing at a 12.4% CAGR between 2023 and 2033.
The analysis estimates that the market will be worth more than USD 15 billion by the end of 2021. FMI predicts that developments in wearable sensing technologies, as well as the advent of competitively priced wearable fitness trackers for health monitoring and management, will remain the principal growth drivers.
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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 smartwatches is expected to rise at a maximum pace. As per FMI, demand in this segment will increase by 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 and 2031.
- The market in the U.K. is expected to progress at a CAGR of around 15% through 2031.
- In 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, and activity trackers integrated with AI capabilities is increasing as these devices help in detecting irregularities in health data and give early warnings for conditions like heart disease or diabetes. AI-enabled wearable devices are gaining traction as they help in monitoring health and give alerts about movements, incorrect posture, and other vital health factors.
The wearable device provides fitness, sleep, and recovery data to help an individual adopt a healthy lifestyle. Many smartwatch vendors are adding blood oxygen sensors in their devices as standard, ECG monitors, and other functionalities to provide warnings or early signs of potential ailment and make suggestions about health improvement.
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
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Pricing Analysis
4.1. Pricing Analysis, By Product Type
4.2. Global Average Pricing Analysis Benchmark
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
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