Wearable Tracking Devices are resultant products of advancing technology that helps people by constantly monitoring and updating one regarding that individual’s physical state. The global wearable tracking devices market is expecting substantial growth owing to its proliferation in the healthcare sector. Market Research Future (MRFR), in their report, has revealed that the device has set the trend for people who are really concerned about their health. It can monitor health round-the-clock and accurately measure heart rate, quality of sleep, step count, and other activities. With rising cases of obesity and diabetes, wearable tracking devices are getting even more precedence. Rising geriatric population is also one serious concern that demands more application of wearable devices.
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On the flip side, these wearable devices incur a high cost which can prove to be a wearable tracking devices market deterrent. At the same time, security issues often raise severe concerns and result of different devices fluctuate which at times, poses questions regarding wearable tracking devices credibility.
Global Wearable Tracking Devices Market – Insight
The wearable tracking devices market is growing intense as regular tactical moves are constantly changing the market equation. For instance, Fitbit can expect extra mileage after its acquisition of Twine Health, a healthcare coaching platform.
Some of the key players for the global wearable tracking devices market are Adidas (Germany), Gramin Ltd (Switzerland), Apple Inc (US), Pebble Technology Corp (US), Samsung Electronics Co Ltd (South Korea), Sony (Japan), Fitbit, Inc. (US), Google Inc. (US), Xiaomi Technology Co., Ltd. (China), Jawbone (US), Nike (US), and others.
Global Wearable Tracking Devices Market – Trend
Pomocup has been designed by researchers with an aim to monitor various conditions such as tour, altitude, speed, glide, grip, and leg symmetry of skiers. By using the network connection of smartphones, it transmits real-time data to the smartphone. Its target is to enhance the performance of skiers by analyzing movements minutely.
Bonbouton wearable device uses graphene sensors to monitor physiological signals which can be used later to predict potential injuries, detect infection and monitor muscular activity. Its small size perfectly fits within clothing and allows users to move comfortably.
Global Wearable Tracking Devices Market – Segmentation
The global wearable tracking devices market can be segmented by types, application, sales channel, and end-user.
By type, the wearable tracking devices market can be segmented into wristwear, footwear and other. The wristwear segment includes fitness bands and smartwatch.
Based on the application, the wearable tracking devices market can be segmented into healthcare, consumer electronics, and others.
Based on sales channel, the wearable tracking devices market consists online and offline.
On the basis of end-user, the wearable tracking devices market can be segmented into sportsperson, patients, and others.
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Global Wearable Tracking Devices Market – Regional Analysis
Region-specific study of the wearable tracking devices market includes namely the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The leading region is the Americas. Its phenomenal growth can be attributed to its infrastructural supremacy, awareness regarding smart technology, tendency to adopt latest technologies as a part of the regular lifestyle and high disposable income. The region can further be segmented into North and South. North America is leading the regional market with heavyweights like the U.S. taking control of the market. Major companies are also based out of the region which proves advantageous for the country.
In Europe, it is Germany, the U.K., France, Italy, and Spain who have taken charge and are helping the regional wearable tracking device market sustain. The APAC market is also showing genuine promise with China and India emerging with huge market potentials. The MEA market can experience moderate growth as the region has poor economic record and lack of awareness regarding the product can impede the market growth in breaks.
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