About Smart Fitness Watch
The growing awareness towards fitness and health and rapid availability of smart wearable devices are becoming major drivers of the wearables industry. With the technology advancement regarding sensors will get smaller with time, in the future, it could soon even be woven into the fabric. And smart fitness devices have also become major trend in the fashion industry, today smart textiles are becoming major attractions for fitness. Talking about wearable technology, it has commonplace on the wrist and it is highly adopted by marathon runners and casual gym-goers. These fitness devices are highly used by personal trainers, fitness instructors. These devices help in maintaining a careful diet and exercise plan, track of a healthy heart. In currently the leading market players are focusing on enhancing awareness among consumers by setting out their stalls, campaigns, and other initiatives. The fitness industry continues to grow at a huge exponential rate, in terms of both who are attending gyms regularly and those also who retrieving the services of personal trainers.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
There are various companies are operating in this industry and heavily investing in technology development. There are various market players are entering this industry to capture market growth opportunities. The market leaders are investing in organic and non-organic strategic growth initiatives to become dominant in this industry. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Smart Fitness Watch market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Apple Inc. (United States), Fitbit Inc. (United States), Garmin Ltd. (United States), Xiaomi (China), LG Electronics (South Korea), MAD Apparel, Inc. (United States), Samsung Electronics Co., Ltd (South Korea), Sony Corporation (Japan), Polar Electro (Finland) and Letsfit, LLC (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Boat (United States), Adorama (United States) and Motorola Mobility (United States).
Segmentation Overview
AMA Research has segmented the market of Global Smart Fitness Watch market by and Region.
On the basis of geography, the market of Smart Fitness Watch 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 Sales Channels, the sub-segment i.e. Online Sales Channels {Company Website, and E-Commerce Platform} will boost the Smart Fitness Watch market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Bluetooth will boost the Smart Fitness Watch market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Features, the sub-segment i.e. Activity Tracker will boost the Smart Fitness Watch market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Operating System, the sub-segment i.e. Android will boost the Smart Fitness Watch market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technology Advancement Regarding Smart Fitness Products
Market Growth Drivers:
Growing Government Initiative Programs Related to Health Awareness and Rising Awareness among People Related to Health and Fitness, The growth in the global health club industry across the globe is major driving for the development of the smart fitness industry. According to the study, the health club industry is generating USD 94 billion in FY 2019, as it was noticed around USD 87.2 billion in previous years.
Challenges:
High Prices of Smart Fitness Products and Lack of Awareness of Smart Fitness Products
Restraints:
Fluctuation in Raw Material Cost
Opportunities:
Rising Demand among the Growing Urban Population, Rising Demand from Emerging Economies such as India, China, Brazil, and Others and Growing Demand for Connected Devices and Development of Key Enabling Technologies
Market Leaders and their expansionary development strategies
In January 2020, Google acquired FitBit, has helped people around the world live healthier, more active lives. A clear pioneer in the industry, Fitbit built a vibrant community of more than 29 million active users by creating amazing wearable devices and immersive wellness experiences.
In the year 2020, Samsung India announced the launch of the Aluminium Edition of Galaxy Watch Active2 4G. The company revealed that the entire smartwatches are made in India. As the company is known as the 2nd largest trusted smartphone brand, through this partnership the company is enhancing the portfolio in the watch industry and gaining market share in India.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Smart Fitness Watch Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
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.