With the growing awareness regarding fitness and detection and prevention of cardiovascular disease all over the world, the trend for using wearable heart rate monitors has been increasing over the last few years. Heart rate monitor watches enable a person to access real-time data, and are gaining in popularity due to their portability and 24/7 heart rate monitoring. This report analyses the current status of the global heart rate monitor watch market, outlines the key market players and the bases for market segmentation and studies the future trends of this industry from 2018 till 2025, using 2017 as the base year.
Heart rate monitors are devices used to continuously monitor heart or pulse rate of an individual. These devices are available in wearable or non-wearable varieties and come embedded with sensors, which help to track the heart rate of a person at rest or during any physical activity. Most of these devices also track fitness levels and sleep patterns, which help people to keep a tab on their regular fitness regime, without a need to consult the doctor regularly. All these factors have contributed to the spurt in the growth of the global heart rate monitor watch market.
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A glimpse of the competition prevailing in the global Heart Rate Monitor Watch market can be arrived at through the report. This part of the study has used SWOT analysis tools to narrow down the strengths, weaknesses, opportunities, and threats of each market player
- TAG Heuer
The global heart rate monitor watch market can be segmented based on type of product, application and regional market size.
Based on the type of product, the market can be split into:
- Strapless Heart Rate Monitor
- Chest Strap Monitor
- Wrist Strap Monitor
In terms of their application, heart rate monitor watches are used in hospitals and clinics, sports medicine facilities, and by sports and fitness professionals or individuals.
North America, Central and South America, Europe, Asia-Pacific, Middle East and Africa are the major markets for heart rate monitor watches across the world. In terms of revenue, North America is seen as the market leader, and is estimated to occupy more than 46% of the global market share during the forecast period. This could mainly be due to the growing prevalence of heart disease in that region, and also due to the easy availability of heart rate monitor watches with improved features such as compatibility with third party applications and a longer battery life.
Industry trends have shown a growing demand for chest strap monitors. The factors behind the growth of this segment could be an increasing number of fitness-conscious consumers who follow a rigorous exercise regime, and the fact that chest straps provide more accurate results as compared to wristbands. In August 2019, Garmin, in collaboration with the Munich airport retail category, launched a series of innovative smartwatches for athletes, which include a wrist-based heart rate monitor that adapts to altitude and weather conditions. This device also offers features such as ski maps, option to control battery life, option for runners to adjust their pace while training in hilly areas, a longer GPS running time, and an auto-alert function in case of accidents.
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