FITNESS TRACKERS MARKET ANALYSIS

Fitness Trackers MarketSize and Trends

The global fitness trackers market was valued at US$ 51.6 Bn in 2022 and is forecast to reach a value of US$ 215.4 Bn by 2030 at a CAGR of 19.6% between 2023 and 2030. The global fitness trackers market is experiencing strong growth due to the rising prevalence of cardiovascular diseases and obesity and increasing awareness about health and fitness. Moreover, the outbreak of COVID-19 (pandemic) and increasing adoption or use of fitness trackers is expected to boost the growth of the market.

Global Fitness Trackers Market Trends:

Rise in adoption of wearables is a recent trend

Over the years, wearable fitness trackers, such as smartwatches, have established themselves as an important part of consumer electronics. The most advantageous component of the Smartwatch has been health monitoring. It helps the people (or user) by providing important health parameters and provides information related to the diseases. The popularity of smartwatches is increasing rapidly as every smartwatch comes with a fitness tracker. People are anxious about their health, and thus, there is an increasing demand for wearable fitness trackers.

Growing demand for flagship products is another trend

Technological advancements have enabled the addition of more features in fitness trackers/bands and smartwatches. Flagship products/devices are highly well designed products and are made very attractive as compared to any other product of the company. Flagship products are typically the reason customers make purchases. They satisfy the customer's wants and serve benefits specific to the design. Thus, increasing demand or adoption of flagship devices/products is expected to propel the growth of the fitness trackers market over the forecast period.