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Fitness Tracker Market Size [2022 – 2028] to reach USD 91.98 Billion [CAGR 15.2%] | Size, Industry Share, Interaction, Revenues , Development Strategy, Key Players

The global ”Fitness Tracker Market” 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, 2022-2027” the market size stood at USD 30.41 billion in 2019.

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High Proclivity towards Fitness to Boost Demand for Fitness Trackers

The rising alertness of an individual’s well-being and health will create lucrative opportunities for the market. These fitness trackers help track sleep patterns, measure heart-rate, sports activities, and others, thus leading to a healthy lifestyle. The surge in the fitness industry owing to the growing young population in countries such as India and China will influence the fitness tracker market growth. The propensity for health clubs and gyms among millennials will have an astonishing impact on the market. Hectic lifestyles can cause stress, anxiety, and depression, hence leading to deteriorated health. The rising necessity for physical activities and healthy diet plans due to the sedentary lifestyle will spur the market’s opportunities in the foreseeable future.

Major Fitness Tracker Market Key players covered in the report include:

  • Gramin Ltd (Kansas, United States)
  • Apple Inc (California, United States)
  • Fitbit, Inc. (California, United States)
  • Pebble Technology Corp (California, United States)
  •  (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

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.

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.

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