Wearable Fitness Trackers Market by Device Type (Smartwatches, Fitness Bands, Smart Glasses, Smart Clothing, and Others), Component (Hardware and Software), Connectivity (Bluetooth, Wi-Fi, Cellular, NFC, and Others), Operating System (Android, iOS, Windows, and Tizen), Distribution Channel (Online and Offline), and Application (Running, Cycling, Heart Rate Tracking, Stress Management, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2028. According to a new report published by Allied Market Research, titled, “Wearable Fitness Trackers Market by Device Type, Component, Connectivity, Operating System, Distribution Channel, and Application: Global Opportunity Analysis and Industry Forecast, 2020–2028,” the global wearable fitness trackers industry size was valued at $38.68 billion in 2020, and is projected to reach $124.32 billion by 2028, registering a CAGR of 17.30%. The Asia-Pacific region is expected to be the leading contributor to the global market during the forecast period, followed by Europe and North America.
Top Impacting Factors
The prominent factors that impact the wearable fitness trackers market growth are increase in health awareness among consumers and surge in demand for wireless fitness & sports devices. In addition, emergence of large number of players in the market drives the wearable fitness tracker market growth. However, high initial cost of wearable fitness devices restricts the market growth. On the contrary, increase in investment on building a connected ecosystem is expected to create lucrative opportunities for the market. Therefore, these factors are expected to definitely affect the development of the global wearable fitness trackers market during the forecast period.
The report provides a detailed study of the dynamic driving and restraining factors, major challenges, and lucrative opportunities. The report offers a SWOT analysis that helps to understand the driving and restraining factors in the industry. The report highlights market segmentation and includes the study of major market players. Furthermore, the report covers a detailed study of the impact of the Covid-19 outbreak on the global Wearable Fitness Trackers market. The global Wearable Fitness Trackers market report offers an overview of the market and highlights the market definition and scope.
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The Wearable Fitness Trackers Market report offers a detailed analysis of the market on the basis of several parameters including sales, sales analysis, market size, and major driving factors. In addition, the report offers SWOT analysis, Porter’s five forces analysis, portfolio and financial analysis, and a business overview of services and products. Such statistical tools provide essential information regarding leading market players and help take advantage of lucrative opportunities in the industry. The report aids industry players and new industry entrants to devise sound business strategies and leveraging the opportunities.
The report provides a comprehensive study of the major market trends and driving factors that fuel the growth of the global Wearable Fitness Trackers market. The analysis of drivers and opportunities is essential in understanding the dynamic industry trends and how companies can leverage such trends. Furthermore, the analysis of challenges and restraints offered in the report helps in recognizing market dynamics. The global Wearable Fitness Trackers report provides quantitative as well as qualitative analyses of the market. The qualitative study provides the value chain analysis, pain point analysis, and key regulations.
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The report covers a detailed analysis of the impact of the Covid-19 pandemic on the market. The prolonged lockdown across the world and stringent restrictions on international trade have a significant impact on the global Wearable Fitness Trackers market. The Covid-19 pandemic resulted in a disrupted supply chain and value. Moreover, the pandemic increased the prices of raw materials and created a shortage of skilled workforce. The report provides consumer preferences, trends, and budget impact on the market owing to the Covid-19 pandemic.
Wearable Fitness Trackers Market Report Highlights
By Device Type
- Smartwatches
- Fitness Bands
- Smart Glasses
- Smart Clothing
- Others
By Component
- Hardware
- Software
By Component
- Bluetooth
- Wi-Fi
- Cellular
- NFC
- Others
By Operating System
- Android
- iOS
- Windows
- Tizen
By Distribution Channel
- Online
- Offline
By Application
- Running
- Cycling
- Heart Rate Tracking
- Stress Management
- Others
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The global Wearable Fitness Trackers market offers detailed segmented into device type, component, connectivity, operating system, distribution channel, application, and region. The Wearable Fitness Trackers market is segmented on the basis of geography. The regions studied in the report are North America (United States, Canada, and Mexico), Europe (Germany, France, UK, Russia, and Italy), Asia-Pacific (China, Japan, Korea, India, and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa). This market study helps to devise business strategies and recognize lucrative opportunities.
The report includes a comprehensive study of market trends, major market players, and top investment pockets that help understand strategies and make informed decisions. The study involves a detailed analysis of the top impacting factors and major investment pockets that affect the overall market growth. The Global Wearable Fitness Trackers market report offers the segmentation and study of prime market players. The major companies ABB, CMA Robotics, DURR AG, Epistolio robot, FANUC AMERICA CORPORATION, Graco Inc., KAWASAKI HEAVY INDUSTRIES LTD., KUKA Aktiengesellschaft, Staubli International AG, and YASKAWA ELECTRIC PTE LTD. These players have adopted various strategies such as product launch, acquisition, collaboration, and partnership to expand their foothold in the industry.
These companies have adopted various business strategies such as partnerships, new product launches, collaboration, and mergers & acquisitions. These market developments help new industry entrants understand profitable strategies and make informed decisions. This study offers a comprehensive study of major impacting factors and prime investment pockets in the market.
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