Smart Fitness Market Report

Smart Fitness Market Analysis By Product (Smartwatch, Wristband, Smart Clothing, Smart Shoes, Bike Computers, Others), By Type (Head-wear, Torso-wear, Hand-wear, Leg-wear, Bike mount), By Region, And Segment Forecasts, 2014 - 2025

Published: October 2017  |  92 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-650-9

Industry Insights

The global smart fitness market size was valued at USD 6.03 billion in 2016 and is expected to gain traction over the forecast period owing to its rapid adoption among the individuals to track their fitness activities. The rising demand for features, such as keeping track of heart rate, distance covered, workout time, and calories burned,offered by fitness trackers is likely to propel the global smart fitness devices market over the forecast period.

The market has witnessed a rising demand among the growing urban population in a bid to meet their fitness goals.There are tremendousopportunities for advancements in the smart fitness devices owing to the increasing usage.Additionally, enhanced internet accessibility and growing penetration of Internet of Things (IoT),which help to direct digital controls for improved Machine-to-Machine(M2M) communication,have encouraged users to adopt the smart fitness devices, thereby driving market growth.

China smart fitness devices market by product, 2014 - 2025 (USD Million)

China Smart fitness market

The rising awareness among people towards health and fitness is reflected in the rapid growth in the demand for diet programs, healthy nutrition, gym memberships, and in the use of mobile fitness applications. Also, increased awareness is likely to continue to drive the demand in the market.However, factors such as high cost associated with the smartwatchmay pose a challenge to the market demand over the forecast period.

Product Insights

Based on products, the smart fitness devices market has been segmentedintothe smartwatch, wristband, smart clothing, shoes, bike computers, and others.The smartwatchsegmentis anticipated to have a substantial growth over the forecast period owing to a number of functions offered by smartwatches, compared to wristbands and other devices, are more.

Smartwatch whencoupled with advances in the artificialintelligence/deep learning and Internet of Things (IoT), hold the potential of achieving a new level of human connectedness. Moreover, technologists are using acombination of big data analysis, machine learning, and sensors, to provide the usersmore data about their bodies and lives than ever before.

Fitness wearables, especially in relationto smart clothing, are a strong contender in becoming the newinterface between the digital world and human beings, extending or replacing smartphones and otherportable connected devices.Smart clothing, or smart textiles, have sensors or conductive fibers woven into or attached to the clothing material. Like other smart fitness devices, smart clothingsends data to the smartphone where the user can evaluate the information.

Type Insights

Based on types, the smart fitness devices market has been segmented into head-wear, torso-wear, hand-wear, leg-wear, bike mount.The hand-wear segment is anticipated to dominate the market by 2025,owing to the high demand originating forsmartwatches.The major drivers for the growth of this market arerising disposable income, increasing awareness on health and fitness, and growing demand for self-monitoring devices.

Smart fitness devices market by type, 2016 (%)

Smart fitness market

Most of the smart fitness devices are worn on the wrist, but there are also other devices such as smart garments, head & ear-worn, chest bands, leg bands, smart shoes, and clip-ons in the market that can be worn on other parts of the body. In line with the growth of wrist worn devices, other categories are also expected to have a significant growth owing to its rising awareness and capability of providing specific use to the user.

While there is an enormous demand for technologically advanced solutions, the need for cost-effective solutions has also increased.Manufacturers have carried out a number of advancements in the design and features of smart fitnessproducts in order to integrate comfort with aesthetics.Internet of Things (IoT)-based solutions are trending in the market and are the most preferred choice for most startups.

Regional Insights

The North Americanregionis projected to be the key regional segment over the forecast period, owing to large consumer base and well-established manufacturers. The region accounted for the largest revenue share and is expected to grow at a CAGR of more than14% from 2017 to 2025.The Asia Pacific, European, and North Americanregionsareexpected to remain the key revenue generating segments over the forecast period.

The Asia Pacific region is experiencing growth in disposable income, which is expected to drive market growth.The smart fitness market is expected to grow in the region, particularly in China and India, due to an increased outbreak of chronic diseases such as diabetes and obesity.

The market in Europe is anticipated to be promising overthe forecast period owing to increasing investments by the European companies in building prototype solutions and systems in the areas of fitness wearables for smart textiles and health & well-being, with an increasing potential to tap into future high-volume markets.

Competitive Insights

Key industry participants of the market includeApple Inc. (U.S.), Fitbit Inc. (U.S.), Garmin Ltd. (Switzerland), Jawbone (U.S.), LG Electronics (Korea), MAD Apparel, Inc. (U.S.), OMsignal(Canada), Polar Electro, Inc. (Finland),Samsung Electronics Co., Ltd. (South Korea), Sony Mobile Communications Inc. (Japan), Under Armour, Inc. (U.S.), and Xiaomi Inc. (China).These companiesare engagedin several strategic initiatives such as new product developments and continuous upgrades of existingproduct linesto reach out their customers and increase market share.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2015

Forecast period

2017 - 2025

Market representation                                                

Revenue in USD Million and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Country scope

U.S., Canada, Mexico, Germany, UK, France, China, Japan, and Brazil

Report coverage             

Revenue forecast, company share, competitive landscape, growth factors, and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional,and country levels and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the smart fitnessmarketbased on products, types and regions.

  • Product Outlook (Revenue, USD Million; 2014 - 2025)

    • Smartwatch

    • Wristband

    • Smart Clothing

    • Smart Shoes

    • Bike Computers

    • Others

  • Type Outlook (Revenue, USD Million; 2014 - 2025)

    • Head-wear

    • Torso-wear

    • Hand-wear

    • Leg-wear

    • Bike mount

  • Regional Outlook (Revenue, USD Million; 2014 - 2025)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • UK

      • France

    • Asia Pacific

      • China

      • Japan

    • South America

      • Brazil

    • MEA

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