About Fitness Technology
Fitness technology is also called as wearable technology. Importance of fitness technology provides us with the ability to monitor our fitness levels, track our location with GPS, and view text messages early. Benefits of fitness technology is to track its steps, as well as tracking and monitoring heart rate and even sleep. It also improve personal safety, encouraging self-monitoring & personal responsibility and creating awareness about your operating levels.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing towards the production technologies, efficiency enhancement and product life. There is various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Fitness Technology market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Zwift (United States), Peloton (United States), Supernatural (United States), Zen planner (United States), Lose It (United States), Daxko (United States), Noom (United States), ASCIS Digital (United States) and Life Fitness (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are ThrivePass United States) and Quicken Loans (United States).
Segmentation Overview
AMA Research has segmented the market of Global Fitness Technology market by Type (Wristband, Pocket / Clip, Chest Strap and Pendant) and Region.
On the basis of geography, the market of Fitness Technology 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). If we see Market by Connectivity , the sub-segment i.e. Bluetooth will boost the Fitness Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. Stainless Steel will boost the Fitness Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Gender, the sub-segment i.e. Adult will boost the Fitness Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing demand for fitness trackers in Asia-Pacific is expected to rise, due to increase in population rate, advancement in technology, and stable economic growth
Market Growth Drivers:
Huge advancement in customized products
Challenges:
Growing concern towards product quality
Restraints:
High cost of raw material and a smaller number of suppliers
Opportunities:
Increase health consciousness among consumers
Market Leaders and their expansionary development strategies
In August 2022, ABC Fitness Solutions (ABC), the leading technology and related services provider for the fitness industry, has announced it has entered into a definitive agreement to acquire Glofox, one of the fastest-growing fitness management platforms servicing the boutique gym and studio sector. The strategic combination significantly expands ABC's global reach and amplifies its ability to serve fitness organizations of all sizes with a company that shares its values, commitment to its teams and customers, and proven track record in developing innovative solutions that allow fitness operators to thrive. The transaction is expected to close later this year.
In September 2020, Peloton has launched two new products for its home smart gym lineup, the Bike+ (USD 2,495) and the Tread (USD 2,495). While both carry the same price tag, the new exercise bike joins as the premium version of Peloton’s original stationary cycle, which will remain on sale at USD 1,895, and the Tread is the new entry-level Peloton treadmill product, with the original becoming the Tread+ at USD 4,295.
Key Target Audience
Manufacturers, Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
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, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.