Wearable Fitness Trackers Market by Overview, Growth Opportunities, andManufacturing Cost Structure

The growth is led by increasing use of fitness tracking apps, rising demand for wireless and continuous health monitoring devices, thriving awareness about obesity, and increase in disposable income.

On the basis of the product, the wearable fitness trackers market is categorized into wrist-wear, smart garments and body sensors, leg-wear, and others. Among the various products, wrist-wear held the largest share in the global wearable fitness trackers market, in 2017. This leading position of the category is majorly attributed to its design, cost, ease of use and functionality. Increasing adoption of wrist-wear fitness trackers for fitness tracking and rising healthcare spending are some of the other factors driving the market demand.

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On the basis distribution channel, the wearable fitness trackers market has been segmented into indirect and direct distribution channels. Indirect distribution channels are estimated to hold 78.3% share in the global market in 2017, owing to the increasing number of online stores and growing consumers preference for online shopping, globally.

During the forecast period, the wearable fitness trackers industry is expected to witness fastest growth in Asia-Pacific (APAC), owing to the presence of local players providing low cost fitness tracker devices, rising adoption of fitness trackers due to increasing prevalence of chronic diseases, and surge in the number of internet users and e-shoppers.

Expansion of local players through opening their own stores is also contributing in the growth of the market. For instance, Xiaomi Inc., has plans to open more Mi home stores in India by 2019. Thus, increasing internet penetration, rising online population, increasing disposable income, and expansion of local players are the major factors driving the growth of the APAC wearable fitness trackers market.

Globally, key players in the wearable fitness trackers industry are launching products to gain a larger market share. For instance, in January 2018, Garmin Ltd. unit Garmin International, Inc. launched the Approach X10, a golf band, to its wearable lineup which is compatible with the Garmin Golf app. The Approach X10 comes preloaded with data for over 41,000 golf courses around the world.

Also, in September 2017, Apple Inc. introduced a third-generation Apple Watch Series 3, with cellular connectivity. Apple Watch Series 3 allows users to stay connected, receive texts, track fitness, and make calls. The company introduced two models for Apple Watch Series 3—one with GPS and cellular, and the other with GPS, combined with the power of watchOS.

Some of the other major players operating in the wearable fitness trackers market include Fitbit Inc., Sony Corporation, Samsung Electronics Co. Ltd., Lumo Bodytech Inc., Xiaomi Inc., Fossil Group, Inc., Moov Inc., Sensoria Inc., TomTom International BV, and Motiv Inc.

GLOBAL WEARABLE FITNESS TRACKERS MARKET SEGMENTATION

Market Segmentation by Product

• Wrist-Wear
• Watches
• Bands
• Others
• Smart Garments and Body Sensors
• Leg-Wear
• Others (Smart glasses, helmets, earphones, pendants, brooches, clips)

Market Segmentation by Distribution Channel

• Indirect
• Pure play e-retailers
• Specialty retailers
• Wholesalers
• Direct

Market Segmentation by Geography

• North America Wearable Fitness Trackers Market
• By Product
• By Distribution Channel
• By Country – U.S. and Canada
• Europe Wearable Fitness Trackers Market
• By Product
• By Distribution Channel
• By Country – Germany, U.K., France, Italy, Spain, and Rest of Europe
• Asia-Pacific (APAC) Wearable Fitness Trackers Market
• By Product
• By Distribution Channel
• By Country – China, Japan, Australia, India, and Rest of APAC
• Latin America (LATAM) Wearable Fitness Trackers Market
• By Product
• By Distribution Channel
• By Country – Brazil, Mexico, and Rest of LATAM
• Middle East & Africa (MEA) Wearable Fitness Trackers Market
• By Product
• By Distribution Channel
• By Country – Saudi Arabia, South Africa, and Rest of MEA

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