Growing need to track and monitor heart beat rate and calorie consumption has revved up demand for smart fitness trackers among the diabetic manufacturers. As manufacturers are increasingly integrating bio-impedance sensors and galvanic skin response sensors, demand for fitness trackers is projected to increase in the fitness industry globally. According to a recently published report by Fact.MR, the global smart sports fitness tracker market will reflect a steady CAGR over the forecast period, 2021-2031.
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Factors Fuelling Growth of the Global Market
Increasing health awareness has revved up demand for fitness tracker to track heart beat rate and physical activities in the healthcare industry. As manufacturers are integrating enhanced technology in the fitness tracker, professionals in the fitness industry are increasingly witnessing considerable demand. Manufacturers are increasingly integrating galvanic skin sensors and bio-impedance sensors in the fitness trackers, which enables in monitoring the distance walked, heartbeat rate and respiratory rate.
Such factors are projected to boost the global market growth of smart sports fitness tracker during the projected period. Moreover, integration of technological updates including GPS, and wireless connectivity with the smartphones is projected to make end users dependent on fitness trackers. These factors are projected to fuel the global market growth of sports fitness tracker during the predicted period.
In contrast to this, increasing availability of smart-watches and smartphones with integrated with better features is projected to drop demand for fitness tracker. Inaccurate results related to the consumption of calories, and the distance covered is further projected to inhibit the global market growth of smart sports fitness tracker through 2022.
Sports Store to Remain a Leading Segment
Online retail is expected to reflect a relatively high CAGR in the global smart sports fitness tracker market through 2022. Sports store is projected to witness a relatively high revenue growth in the global market of smart sports fitness tracker. This segment will represent more than US$ 180 Mn in the sports fitness tracker market globally by the end of 2017. Departmental store among other distribution channels will witness significant revenue growth after sports stores in the global market of smart sports fitness tracker by 2017 – end. Sales of fitness tracker market is projected to remain high through sports stores in Europe.
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Augmenting nutrition plans will witness a relatively high CAGR in the sports fitness tracker market globally through 2022. Activity tracking is projected to reflect a relatively high revenue growth in the global market of smart sports fitness tracker. This segment will represent more than US$ 180 Mn in the sports fitness tracker market globally by 2022-end. Heart rate among other products is projected to represent significant revenue growth after activity tracking in the global market of smart sports fitness tracker during the projected period.
Mid price is projected to reflect a relatively high revenue growth in the global market of smart sports fitness tracker. This segment will represent more than US$ 200 Mn in global market of the smart sports fitness tracker by 2022-end. Europe is projected to represent a major market for smart sports fitness tracker globally. Economic prices is projected to reflect a relatively high CAGR in the global market of smart sports fitness tracker through 2022.
Major players in the global market of smart sports fitness tracker are Bosal, Witter, Brink/ Thule Towing Systems, Westfalia Automotive, Tow-Trust Towbars, PCT Automotive, Dixon Bate Limited, Thule, A1 Towing Limited, David Murphy Towing, Montaplast GmbH, and A1 Towing Limited.
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