The global mobile sensing fitness market is estimated to witness considerable growth over the forecast period. This growth can be attributed to the increased usage of advanced general purpose smartwatches along with the other fitness-dedicated devices available in the market. Mobile sensing fitness components are used in health and fitness devices to measure various parameters such as muscle activity, heartbeat rate, bio-impedance or hydration levels, and 3D motion sensing. Rapid and continuous development in sensing technology assists regular patient monitoring and creates a fitness record for the end-user. This encourages fitness, reduces medical expenditure, and provides improved treatment results. Increased venture capital funding, extensive R&D efforts, and innovation provided by the mobile/IT industry are expected to favorably impact the mobile sensing fitness market. In addition, technological advancements and increased fitness-related awareness among consumers are also expected to fuel the mobile sensing fitness market demand over the next few years.
Surging consumer demand has instigated manufacturers to develop multi-function mobile sensing fitness devices along with smartphone connectivity, alerts, and notifications. Growing health awareness is a major driver for the global mobile sensing fitness market. Aging population, high incidence of diseases, and higher healthcare costs are some of the factors that drive market demand. Furthermore, owing to the increasing health consciousness, consumers continuously monitor their health conditions. Technological proliferation and development of technologies such as Bluetooth smart radios with mobile sensors and the increasing popularity of fitness applications over wearable devices have certainly impacted the global mobile sensing fitness market. These devices enable the connection between ultra-low power wireless wearable devices to the internet as well as sensor-infused smartphones. This provides a platform for application developers with new markets and partners to showcase innovative and supportive applications for the fitness sensing market. However, the lack of standardization among health and fitness devices remains a major challenge to the growth of the global mobile sensing fitness market.
The mobile sensing fitness market can be segmented by product into activity trackers, smartwatches, heart rate monitors, speed, cadence, and other performance monitors. Mobile sensing fitness devices use one or more of the advanced mobile connectivity solutions such as ultra low power components, Bluetooth classic and Bluetooth Smart, ANT sensor alliance, Wi-Fi, Near Field Communications (NFC), and BodyLAN.
Rising consumer disposable incomes and increasing awareness among the consumers related to their health in developed as well as developing regions are expected to drive the mobile sensing fitness market over the forecast period. Countries such as Japan, Korea, Russia, and India have exhibited high market growth potential over the forecast period.
The key market participants in the mobile sensing fitness market include Adidas, Fitbit, Garmin, Microsoft, Nike, Polar, and Samsung, and fitness devices include Apple, Google, LG, and Motorola.
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The global electronics devices market (including consumer electronics and industrial electronics devices) is expected to be impacted significantly by COVID-19 as China is one of the major suppliers for the raw materials (used to manufacture devices) as well as the finished products. The industry is on the brink of facing a reduction in production, disruption in supply, and price fluctuations. While this can vastly encourage local manufacturers to step up and address the growing demand, the scarcity of raw material can still pose a challenge to this industry. The sales of prominent electronic companies is expected to be affected in the near future. The report will account for Covid19 as a key market contributor.
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