Wearable tracking devices market is expected to grow at a healthy CAGR of 14.5% during the forecast period 2021-2027.
Wearable tracking devices are equipped with the features of, tracking daily activity of a person and the fitness tracking systems. Wearable tracking devices can be worn all day every day for the tracking purposes. Tracking devices can track heart rate and notify regarding arrhythmias which are not felt by person. Newly launched products in the segment are equipped new features of tracking sleep pattern, workout pattern and blood pressure as well. Wearable tracking devices market is expected to experience a swift growth on the global platform due to the changing lifestyle trends and growing awareness regarding healthy and sound lifestyle.
Wearable tracking devices market is expected experience a sound growth during the forecast period owing to the global increase in the awareness regarding healthy lifestyle.
Factors like continuously growing trend of healthy life and fitness among young generation around the globe is the key factor driving the wearable tracking devices market. Additionally, increase in the prevalence of cardiovascular diseases and rising incidences of sudden cardiac arrests, globally, is fuelling the market growth during the forecast period. According to Centers for Disease Control and Prevention, around 610,000 people die every year due to heart diseases in the United States, which equals to around 1 in every 4 deaths. Moreover, around 735,000 people in the United States experience a heart attack every year, which is caused by the high blood pressure due to blocked arteries. According to the World Health organization (WHO), every year around 17.9 million people die from cardiovascular diseases, worldwide.
Rise in the obesity rates due to wrong eating habits and growing consciousness of fitness among old population, are the factors boosting the market growth during the forecast period. Moreover, growing interest of young generation towards adventure sports is supporting the market growth. According to the World health Organization (WHO), in 2016, around 650 million people were obese which equals to the 13% of the global population count.
Wearable tracking devices market is segmented into type, application, distribution channel and end user.
Based on type, wearable tracking device market is segmented into wrist wear, foot wear and others. Wrist wears are further sub-segmented into fitness bands and smart watch.
On the basis of application, market is segregated into healthcare, consumer electronics and others. Healthcare is further sub-segmented into heart rate monitors, pulse oximeters, sleep trackers and activity monitors.
In terms of distribution channel, market is segmented into offline channels and online channels.
Based on end user, wearable tracking devices market can be segmented into sportsperson, patients and others.
In terms of region, wearable tracking devices market is segmented into North America, Europe, Asia Pacific, and the Latin America and the Middle East & Africa (LAMEA).
North America region is expected to account for the largest share in the global wearable tracking devices market owing to the leaning trend of young generation towards smart wearable tracking devices, coupled with increasing demand of sophisticated technology tracking devices. Increasing prevalence of cardiovascular diseases and rising cases of sudden cardiac arrests due to the undetected arrhythmias, is expected to propel the market growth. Technological advancements in the field of wearable tracking devices is the other reason fuelling the market growth in the region.
Europe region is expected to experience a significant growth and is anticipated to account for one of the major shares in the global market during the forecast period. Market in the Europe region is mostly driven by the favourable government regulations supporting the research and development in the wearable tracking devices market. Rising cases of high blood pressure around the Europe region is the other factor which is expected to prosper the growth in the region. Increasing cases of obesity and overweight is the factor fuelling the market growth in the region.
Asia Pacific is the fastest growing region for wearable tracking devices market. Continuously growing population number, rise in the prevalence of obesity and cardiovascular diseases and increasing awareness regarding the healthy lifestyle are the factors driving the market in the Asia Pacific region over the forecast period. Additionally, young generation driving towards the sophisticated wearable devices is supporting the market in the market.
Latin America and the Middle East & Africa accounts for least share in the wearable tracking devices market due to the lack of awareness regarding fitness trackers in the region. But trend driving towards fitness and increasing prevalence of obesity in the region is expected to support the market growth and is anticipated to cater new opportunities for the market.
Some of the key players in the market are Adidas (Germany), Apple Inc (the U.S.), Samsung Electronics Co Ltd (South Korea), Pebble Technology Corp (Taiwan), Sony (Japan), Fitbit, Inc. (the U.S.), Google Inc. (the U.S.), Nike (the U.S.), Jawbone (the U.S.) and Xiaomi Technology Co., Ltd. (China).
Why To Buy This report Right Now?
Fitbit Inc. launched Fitbit care, a health platform which helps in tracking the health and fitness by combining virtual care and coaching. It is a wearable device which enables the self-tracking.
Launch of new products by the major players of the market is expected to propel the market growth owing to the increase in demand for the wearable tracking devices. The market is anticipated to grow at a healthy pace during the forecast period 2019–2026.
Our report covers the fermented dairy market insights, focusing on recent developments in the market in different regions and development strategies of the companies. Moreover, following sections are specifically covered in the report.
- Definitive Market Data
- Wearable tracking Devices Market Analysis
- Competitive Analysis
- Recent Opportunities in the Market
- 6-7 year performance forecasts: major segments covering top products, ingredients, and geographies
- Market Share Analysis
- Potential Venture Avenues
- Wrist Wear
- Fitness Bands
- Smart Watch
- Foot Wear
- Pulse Oximeters
- Sleep Trackers
- Activity Monitors
- Consumer Electronics
By Distribution Channel
- Offline Channels
- Online Channels
By End User
- North America (U.S and Canada)
- Europe (Germany, France, Italy and Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific)
- LAMEA (Brazil, Turkey, Saudi Arabia, South Africa and Rest of LAMEA)