Wearable Fitness Trackers Market Will Net Revenues US$ 93.69 Bn by 2027
Valley Cottage, NY -- 08/03/2018 -- Global wearable fitness trackers market is expected to witness significant growth during the forecast period. This growth is attributed to increasing number of corporate players in the market. The market is also increasing due to adoption of new technologies such as CGM (Constant Glucose Monitoring), which is gaining the customer's interest in wearable fitness trackers. "Wearable Fitness Trackers Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)," is the newly published report by Future Market Insights that examines the global wearable fitness for the brief period of 10-years. The revenue from the global wearable fitness trackers market to increase from US$ 21.66 Bn in 2017 to US$ 93.69 Bn by 2027 end, representing a CAGR of 15.8% from 2017 to 2027. This increasing revenue growth is attributed to the launch of new wearable fitness trackers.
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Key Drivers of the Global Wearable Fitness Trackers Market
Technological replacement for guesstimating and rising health issues such as obesity, blood pressure and diabetes drive the growth of the global wearable fitness trackers market
The simplicity is one of the key driving factors for the increasing popularity of the wearable fitness trackers among all age groups
Fitness tracker helps parents in tracking their kid's location that creates positive impact on the global market for wearable fitness trackers
Usage of wearable fitness trackers as an e-wallet and as a companion to smartphone fuel the market growth during forecast period
Increasing disposable income and expanding user base boost the global wearable fitness trackers market
Global Wearable Fitness Trackers Market: Segmental Analysis and Forecast
This market is segmented into distribution channel, application, product and age group types. In product type, retail stores segment is expected to register high Y-o-Y growth rates throughout the opportunity assessment period. In terms of value, this segment is expected to expand at a healthy CAGR during the projected period, on the other hand the e-commerce segment is anticipated to witness high market attractiveness index over the projected period. In application segment, call, text & calendar alerts segment is expected to be more preferred feature in the forecast period owing to the busy lifestyles of the users. In 2027, pedometer segment is estimated to be valued at US$ 30.13 Bn. In age group segment, the revenue generation from 0-5 years segment is expected to increase at higher CAGR due to increasing requirement of remote baby monitoring systems. In terms of value, 25-44 years segment is projected to be the most attractive in the global wearable fitness trackers market during the estimated period. The wrist wear segment of product segment of the global wearable fitness trackers market grabs 70.1% market share in 2027.
Global Wearable Fitness Trackers Market: Regional Analysis and Forecast
North America is projected to be the most attractive in the global wearable fitness trackers market between 2017 and 2027 with 37.5% market share in 2027. In 2017, the market in the North America is estimated to be valued at US$ 6,648.3 Mn and is expected to witness steady growth in terms of revenue throughout the forecasted period.
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Global Wearable Fitness Trackers Market: Key Vendors
Apple Inc., Fitbit Inc., Samsung Electronics Co. Ltd., Sony Corporation, Xiaomi, Garmin Ltd., FOSSIL GROUP, INC. (MISFIT), Jawbone, TomTom International BV, Huawei Technologies Co., Ltd., Boltt, Moov Inc., More-fit, Atlas Wearables, Inc., Lenevo, Acer Inc., GOQii, ShenZhen Wayforward, Electronic Co., LTD (LEMFO), MAD Apparel, Inc., and Sensoria Inc. are some of the key vendors in the global wearable fitness trackers market.