Global Smart Fitness Market, By Component (Smart Accessories (Smart Watches, Smart Bands, Activity Trackers, Heart Rate Monitors, Pedometer, Sleep Quality Monitor), Cardio Vascular Equipment (Treadmills, Bicycles, Riders, Others), Strength Equipment (Weight Training, Power Racks, Resistance Machines), Cross-Training Equipment (Stretching, Motion Trail, All in One)), By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Published In : Jan 2022

Code : CMI1829

Pages :170

Formats :

Excel and PDF

Industry : Smart Technologies

Market Challenges And Opportunities

Global Smart Fitness Market: Restraints

High cost related to the devices is expected to hamper the global smart fitness market growth over the forecast period

High cost associated with smart fitness devices is expected to slow down the penetration rate of these devices in emerging markets. Smart fitness devices are highly sophisticated equipment, which includes advanced technologies such as LED screen, Wi-Fi, and GPS tracking. Some devices can monitor heart rate (BPM), calories burned, steps walked, oxygen level, and other parameters of the user. As a result of this, the selling price of such devices is significantly high. Therefore, these factors are expected to hamper the global smart fitness market growth over the forecast period.

Low awareness regarding these devices is expected to restrain growth of the global smart fitness market during the forecast period

There is a lack of awareness in emerging economies regarding various types of smart fitness accessories and devices that can be used to monitor health-related issues. A large pool of consumers is unaware of the advantages offered by smart fitness devices. Therefore, these factors are expected to restrain growth of the global smart fitness market during the forecast period.

Restraints & Challenges:

High cost related to the devices
Low awareness regarding these devices

Global Smart Fitness Market: Opportunities

Rising health concerns among consumers can present lucrative growth opportunities in the global smart fitness market

Consumers are increasingly become health-conscious, thereby adopting healthy eating habits and taking up exercise. This trend is quite similar in both developed and emerging economies. Smart fitness devices such as heart rate monitors and activity trackers that can be connected to smart-phones wirelessly are experiencing increased uptake as they provide feedback on individuals’ performance and health.

Augmented customer experience can provide major business opportunities in the global smart fitness market

In this technology-driven era, consumers are becoming more tech-savvy and selective in their purchases. Consumer preferences are shifting towards smart accessories and devices such as smartwatches and activity trackers that can tell about, heart rates, steps taken, and give other related notifications. Thus, enhance customer experience with reduced complexities.