Industry Background:
Smart fitness is defined as the equipment are used for physical exercises and it helps in managing overall weight, improves physical stamina, as well as develop muscular strength. In 2013, according to an article published by the Institute for Health Metrics and Evaluation analysis (United States), more than 30% of the world population was suffering from obesity and overweight. Hence, rising health issues such as obesity and overweight will affect the growth of the market in the future. In addition, growing awareness among people regarding the benefits of smart fitness is the major drivers which are propelling the growth of the market.This growth is primarily driven by Growing Government Initiative Programs Related To Health Awareness
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2022-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Technology sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Apple Inc., (United States), Fitbit Inc., (United States), Garmin Ltd., (United States), Jawbone (United States), LG Electronics (South Korea), MAD Apparel, Inc. (United Kingdom), Samsung Electronics Co., Ltd., (South Korea), Sony Mobile Communications Inc., (Japan) and Polar Electro (Finland), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In February 2018, the Fitbit, Inc. (United States) Company has acquired the Twine Health, Inc. (United States) Company. It will benefits increase their offerings in the healthcare sector. In addition, it further helped the company to gain a competitive edge in the market.
The market is fragmented with numerous players focusing on technique and quality of the product due to which the global smart fitness market can witness an upsurge in the forecast period.
Influencing Trend:
Technology Advancement regarding Smart Fitness Products such as Peloton Tread and Black Box VR
Market Growth Drivers:
Growing Government Initiative Programs Related To Health Awareness, Rising Awareness among People Related To Health and Fitness and Rising Demand among the Growing Urban Population
Challenges:
High Prices of Smart Fitness Products, Lack of awareness of Smart Fitness Products and Failure to Achieve Long-Term Engagement and Unaddressed Regulatory Issues
Restraints:
Issue related to High Initial Cost of Equipment and A problem regarding Power Consumption and Limited Battery Life of Smart Fitness Products
Opportunities:
Rising Demand from Emerging Economics such as India, China, Brazil, and others and Growing Demand for Connected Devices and Development of Key Enabling Technologies
AMA Research follows 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 mainly 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 showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Smart Fitness Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Smart Fitness Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Smart Fitness players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes 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, Smart Fitness Study Sheds Light on
The Smart Fitness Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Smart Fitness industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Smart Fitness industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.