Fitness Trackers Market Anticipated to Reach $62,128 Mn by 2023 | Size, Growth, Segmentation and Top Companies Insights

North America is predicted to dominate, registering highest CAGR of 18.9% when it comes to worth

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATES, October 20, 2022 /EINPresswire.com/ — Increase in pattern of Internet of Things is predicted to gasoline progress of the fitness trackers market. Rise in propensity of shoppers in direction of know-how in day by day life for ease of residing, owing to extend in well being issues augments the desire for health trackers

According to a brand new report revealed by Allied Market Research titled, Fitness Trackers Market by Device Type, Display Type, Sales Channel, and Compatibility: Global Opportunity Analysis and Industry Forecast, 2017-2023,” the worldwide health trackers market measurement was valued at $17,907 million in 2016, and is predicted to succeed in $62,128 million by 2023, registering a CAGR of 19.6% from 2017 to 2023. North America dominated the worldwide health trackers market in 2016, accounting for one-third share of the full income.

Global Leaders:

Major gamers within the health tracker market are specializing in new product improvement to achieve a robust foothold available in the market. Key gamers profiled within the report embody Fitbit Inc., Google LLP., Apple Inc., Samsung, Xiaomi Inc., Jawbone, Nike, Adidas, Misfit Wearables, Inc., Shenzhen Motto Electronics Co. Ltd., Google LLP, and Apple Inc.

Other health tracker producers embody Huawei Technologies Co., Ltd., Huawei Technologies Co., Ltd., Desay Infor Technology Co., Ltd, Shenzhen DO Intelligent Technology Co., Ltd., NJY Science and Technology CO., LTD, Shenzhen Beienda Technology Co., Limited.

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Fitness trackers are utility units, which document and measure information associated to health actions resembling distance lined strolling & working, coronary heart beat monitoring, sleep sample monitoring, and others. Increase in health consciousness amongst shoppers and speedy rise in per capita disposable revenue are anticipated to spice up demand for health trackers.

Furthermore, enhance in pattern of wearable know-how amongst youth and technological developments gasoline the health trackers market progress. However, danger of information theft is predicted to say no the gross sales of present health trackers; thus, the producers are specializing in safe mediums of wi-fi connection for these units to extend information safety, thereby impeding the health trackers market progress. Increase in pattern of wearable know-how and developments in information safety know-how are anticipated to drive the health trackers market progress within the close to future.

The smartwatch section is predicted to dominate the health trackers business throughout the forecast interval. However, health bands section is predicted to achieve traction, owing to extend in health involved shoppers.

Surge in adoption of health trackers in health facilities is anticipated to drive the expansion of health trackers market throughout the forecast interval. Rise in on-line gross sales of health trackers is among the main components that propels the expansion of the market, owing to the truth that this channel makes merchandise simply accessible for shoppers throughout numerous areas. Correspondingly, offline gross sales platform offers tangible demonstration of the product, which results in augmenting promotion and product consciousness.

Smartwatch section is dominating the health trackers market, when it comes to worth, owing to rise in client desire for smartwatches, owing to its benefits resembling smartphone notifications monitoring, customizable consumer interface, and exercise monitoring options.

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Consumer propensity in direction of buying health trackers with coloured show is rising because of the options of coloured shows resembling interactive show, vivid colours, and enriched consumer expertise.

Online gross sales section is dominating the health trackers market, when it comes to worth, owing to extend in variety of web shoppers, rise in advantages of buying on-line, and engaging gives on on-line websites.

iOS section within the world health trackers market is witnessing exponential progress, as health trackers with iOS have distinctive apps and consumer interference, which have elevated the gross sales of iOS powered units. Correspondingly, the android put on section is anticipated to indicate vital progress throughout the forecast interval, owing to the dominant presence of android telephones.

Key findings of the Fitness Trackers Market:

In phrases of worth, the smartwatch section is predicted to develop at a CAGR of 20.3% throughout the forecast interval.
North America is predicted to dominate, registering highest CAGR of 18.9% when it comes to worth.
Asia-Pacific is projected to indicate exponential progress in demand all through 2023, rising at a CAGR 21.2% of when it comes to worth.
Colored show section is anticipated to dominate world health tracker market registering CAGR of 19.9%.
The on-line platforms section is estimated to account for greater than half of the share of the full market in 2016.
China and Japan collectively accounted for greater than half of the full Asia-Pacific health trackers market in 2016.
In the worldwide health trackers market, India is predicted to develop at a CAGR of 15.5%, when it comes to worth.
North America and Europe collectively accounted for about greater than half of the share of the worldwide health tracker market in 2016. Change in life-style and rise in disposable revenue of shoppers are anticipated to drive the expansion of the Asia-Pacific market.

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David Correa
Allied Analytics LLP
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