The market for smart sports fitness trackers is expected to grow at a compound annual growth rate (CAGR) of 4.6% from its estimated value of US$ 2.88 billion in 2023 to US$ 4.52 billion by the end of 2033.
A smart sports fitness tracker is a hand-held gadget that connects wirelessly to computers or smartphones to measure users' health metrics, including heart rate, respiration, sleep duration and quality, and calories burnt or ingested. Fitness trackers count the steps taken and the distance covered when running or walking. Furthermore, because of the benefits described above, people who are concerned about their health are becoming more and more in need of fitness monitoring devices.
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Initially, users of smart sports fitness trackers were those engaged in physically demanding activities including weight loss training, gym memberships, and sports. Customers' preferences are turning toward the use of digital technology for healthcare, nevertheless, as the incidence of health-related diseases and knowledge of managing weight rise. Smart fitness trackers for sports are frequently used for a variety of exercises, including running, cycling, hiking, and swimming.
The public's growing health consciousness, rising per capita disposable income, and the increasing integration of intelligent AI-powered devices into daily life present profitable opportunities for producers of smart sports fitness trackers. Furthermore, over the next ten years, it is anticipated that the working-class population and younger individuals would show a great interest in cutting-edge technical devices, which will considerably boost sales of smart sports fitness tracker goods.
Key Companies Profiled
- Apple Inc.
- Huawei Technologies
- Google LLC
- Xiaomi Corporation
- Samsung Electronics
- Nike Inc.
- Bonlala
- MOKO Smart
- Starmax
- Garmin
- Lenovo Group Limited
- Sony Corporation
- Pebble Technology Corp.
- Jawbone
Among the several kinds of smart sports fitness trackers are smart watches and smart bracelets. The rising popularity of smartwatches can be attributed to their easy-to-use interface and robust activity monitoring capabilities.
Wearable fitness monitoring gadgets, or smartwatches, are quickly taking over as essential components of consumer electronics. The most advantageous aspect of them is their health monitoring feature, which provides fitness fanatics with vital health measurements and information about diseases. The significant expenditures made by mobile chipset firms in smartwatch devices are also increasing the adoption rates of these gadgets.
The use of AI in fitness tracking systems is emphasized.
Advanced technological gadgets being used in a variety of areas is driving market development prospects. In addition, the public is becoming interested in the emphasis on technology developments for personal fitness and healthcare management. By providing users with real-time data on their physical activity, fitness trackers that integrate cutting-edge artificial intelligence (AI) algorithms are enabling virtual personal training experiences.
Fitness tracker displays are being improved by organic light-emitting diodes (OLEDs) and active-matrix organic light-emitting diodes (AMOLEDs). Consumer choices for clothing-connected smart devices are being strongly influenced by the growing use of e-textiles and smart textiles in wearable fitness equipment. Thus, throughout the course of the next ten years, it is projected that these variables will propel sales of smart sports fitness trackers.
Growing Rates of Infectious Diseases and Lifestyle Disorders
The recent worldwide pandemic COVID-19 has increased the frequency of infectious illnesses, which has made people more aware of the need to preserve their physical and mental health. As individuals self-monitor and record their physical states, single-function gadgets such as heat scanners, SpO2 detectors, and heart rate recorders have become increasingly common.
The availability of these innovations in the shape of wearable, portable devices has attracted a sizable consumer base. Additionally, as Generation Z, millennials, and desk-bound professionals become more conscious of the negative effects of physical inactivity—such as obesity, sleeplessness, melancholy, and spinal disorders—smart sports fitness trackers are becoming increasingly popular for everyday usage.
Data security and privacy issues related to smart sports fitness trackers
Users' personal information, including age, date of birth, location, health condition, and other details, is often gathered and stored on fitness tracker applications or devices. Manufacturer programming flaws have the potential to result in cyber data theft, which can hurt users in a variety of unanticipated ways. Information about the user may be misused by unapproved groups or disclosed to the public.
Servicemen employed fitness tracker devices to pinpoint the locations of their hidden military sites in Afghanistan, Iraq, and Syria. This problem has the potential to seriously disrupt the market and cause a big fall because of privacy concerns.
Competitive Landscape
Smart sports fitness tracker makers are investing in the development of cutting-edge fitness-tracking software and algorithms in order to produce technologically advanced products at competitive costs. In addition, producers are depending on innovative sales and marketing strategies to persuade their intended audience to purchase their goods.
Prominent athletes are also collaborating with well-known athletes or health awareness initiatives to establish their brand and promote their goods. Furthermore, one of the main strategic goals of the top market companies for environmental conservation is the use of environmentally friendly production techniques.
Key Segments of Smart Sports Fitness Tracker Industry Research
- By Product Type :
- Smart Watches
- Smart Bands
- By Application :
- Activity Tracking
- Sleep Monitoring
- Heart Rate Monitoring
- Augmenting Nutrition Plan
- Coaching
- By Distribution Channel :
- Hypermarkets/Supermarkets
- Departmental Stores
- Online Retail
- Sports Stores
- By Price :
- Economy
- Mid
- Premium
- Super-premium
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia Oceania
- MEA
As consumers continue to prioritize health and fitness, the demand for smart sports fitness trackers is expected to rise, offering enhanced features and capabilities that cater to a tech-savvy and health-focused market. With the ongoing innovation in wearable devices and the integration of AI and data analytics, the market is poised for sustained growth, ensuring that smart sports fitness trackers will remain an essential tool for athletes, fitness enthusiasts, and everyday users alike.
FAQ:
How is the demand for smart sports fitness trackers growing in the United States?
The United States market is foreseen to advance at a CAGR of 4.5% through 2033.
Which company is leading the smart sports fitness tracker market?
With more than 146 million smart wearables shipped to date, Apple Holds a significant position in the global market for smart sports fitness trackers.
What is the outlook for the future of smart fitness trackers?
Combination of AI and ML is expected to lead to more personalized and accurate smart sports fitness trackers.
