Industry Background:
The growing trend for wearable technology and the development of the internet of things (IoT)-based electronic devices boosting the demand for wearable fitness trackers. The market has high growth prospects owing to changing lifestyle standards and transition in consumer spending and growing awareness about wearable fitness trackers. Moreover, growing demand from millennials expected to drive the product demand during the forecasted period.This growth is primarily driven by Changing Lifestyle Standard and Transition in Consumer Spending and Growing Awareness about Wearable Fitness Trackers.
Globally, a noticeable market trend is evident Rising Demand for Continuous Health Monitoring Devices
. Major Vendors, such as Motiv Inc. (United States), Sony Corporation (Japan), Sensoria Inc. (United States), Xiaomi Inc. (China), Garmin Ltd. (United States), Apple Inc. (United States), Fitbit (United States), Tom Tom International BV (Netherlands), Samsung Electronics Co. Ltd. (South Korea) and Nike (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In March 2019, Fitbit launched Fitbit Versa Lite edition collection. It is designed to be worn as an everyday smartwatch with numerous features such as 24/7 heart rate monitoring, connected GPS, smartphone notifications, and others. and In November 2019, Xiaomi launched a new Mi Band fitness tracker for the Indian market with a 22-25 day battery backup.
Market Drivers
- Changing Lifestyle Standard and Transition in Consumer Spending
- Growing Awareness about Wearable Fitness Trackers
Market Trend
- Rising Demand for Continuous Health Monitoring Devices
- Technological Advancement in Wearable Fitness Trackers
Restraints
- High Cost of Wearable Fitness Trackers
Opportunities
Increasing Demand from Millennials and Growing Online Distribution Channel
Challenges
Risk of Data Theft
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Wearable Fitness Trackers Study Sheds Light on
The Wearable Fitness Trackers Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Wearable Fitness Trackers industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Wearable Fitness Trackers industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.