Global Running Watches Market Overview:
Running Watches is an information processing device which is wearable in the wrist, it has the basic time function, which could be used for sports. The Running Watches are primarily used in Biking, Running, Climbing, Cardio Training, and Other sports. There are a number of different kind of running watches available for runners. They have the function of Pedometer, GPS, HRM (heart rate monitor) or with a combination with them Some of the players profiled in the study are Fitbit (United States), Samsung (South Korea), Garmin (United States), Suunto (Finland), Casio (Japan), Polar (Finland), Motorola/Lenovo (United States), TomTom (United Kingdom) and Xiaomi (China). According to Market Analyst at AMA, the Global Running Watches market may see a growth rate of 5.3% and would reach the market size of USD13500.0 Million by 2026.
On the basis of geography, the market of Running Watches has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). United States region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Age group, the sub-segment i.e. 10-20 years will boost the Running Watches market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- People are more fitness freak now which is generating the scope to the market
- New designs with new technology
- Features like ease of use, better functionality and durability driving the market
Influencing Trend
- All in one watch with time and other features are regulating the market
- Consumers are preferring one device for serving all the purposes rather than multiple apps and devices
Restraints
- Changing consumer preferences for features of the watch
- Factors such as low battery life and ability of connecting to only one smartphone are estimated to hamper the growth of the industry
Opportunities
- Healthcare providers are likely to prescribe these devices to their patients as a part of treatment to develop health conditions
Challenges
- Other fitness tracker device can lower the market
- Not so popular among the several regions
- Entry of new industry participants might pose pricing challenges
Key Market Developments:
Tomtom partners-up with DKV to help truckers save fuel and Fitbit, Inc. the leading global wearables brand, announced that it will acquire Twine Health, an innovative, proven health coaching platform that empowers people to achieve better health outcomes
Tomtom telematics named Europe’s largest provider of fleet management solutions for the fourth year running, Tomtom and BMW Motorrad provide in-bike navigation via the app, Tomtom mapping data to power end-to-end analytics platform, Fitbit CEO James Park said his company plans to transition to software and services over hardware and Fitbit makes an acquisition to enhance health care service offerings
Target Audience:
Manufacturer, Sub component manufacturer, Channel partners, Industry association, Downstream vendors, Government and investment communities and Research organisation and associations
Major Objectives Focused through this Study
To define, describe, and forecast the Global Running Watches market on the basis of product [Pedometer Watches, GPS Watches, Heart Rate Watches and GPS +HRM Watches] , application [Biking, Climbing, Cardio Training and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Running Watches market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Running Watches industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are Timex (United States), Nokia (Finland) and Soleus (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Running Watches market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.