Smart Fitness Market Outlook, Sales Revenue, Strategy to 2026

Smart fitness gear are used for physical workouts which help in managing overall weight, improve actual physical endurance, and also improve muscular strength. These units are utilized to monitor information including sleep, steps, calories, heart rate, and alpilean reviews google (Full Content) various other bodily state, which additionally help in improving the overall fitness of the human body.

Rising awareness among individuals connected with health and fitness is one of the major driving factors for progress of the global smart health industry. The factor attributed to expansion of the market is soaring health problems such as for instance obesity, diabetics, heart attack, which further increases need for fitness equipment.

For example, in 2013, in accordance with the Institute for Health Metrics and Evaluation analysis, almost thirty % of the world population was suffering from morbid obesity or perhaps overweight, globally. Furthermore, in accordance with the diabetics.org, the total amount of people in the U.S. struggling from diabetic patients was 7.2 million in 2014, and also in 2015, 1.5 million new cases have been reported which has been 6.7 % per 1,000 persons. Thus, increasing awareness among individuals will proportionally demand for that fitness equipment, which will enable them to track health connected information like heart rate, amount of calories burned as well as exercise time. This’s likely to further make it possible to enhance their general fitness of the entire body, subsequently aiding in development of the global smart fitness market.

Moreover, growing government initiative diets related to health awareness is yet another component propelling growth of the marketplace. As an example, in May 2004, in the 57th World Health Assembly (WHA) endorsed the World Health Organization’s (WHO), Global Strategy on Diet, Physical exercise, and Health. The aim of this strategy is promoting as well as protect health and wellbeing by guiding at each individual, community, national, and worldwide level such that it helps in reducing disease and death rates related to physical inactivity and unhealthy diet.

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High price of wise fitness equipment is major component that limits growth of the market. This pushed start up gyms & in house users and fitness centres to buy second hand equipment. So, high rates of these gear is a significant factor hampering purchase of new equipment for commercial purposes. This is likely to negatively impact sales of new smart fitness equipment.

Worldwide Smart Fitness Market: Segment Trends

On the foundation of merchandise type, the smart watch segment accounted for the biggest market share in 2017 and is likely to retain the position of its throughout the forecasted time. This’s owing to demand which is increased for wireless health monitoring devices. As an example, according to the Coherent Market Insights’ studies, the entire product of smart watches sales in 2016 was US$thirty six million and it increased to US$76 million in 2017, internationally. These bright watches carry out several functions particularly real-time heart rate monitoring, fitness monitoring, tracking footsteps, tracking number of calories burnt, general rest statistics, tracking exercise instruction, and tracking of user’s day regimen to offer valuable insights on their health. This further helps physician to diagnose their patient’s overall health remotely. This is likely to aid in development of the segment over the forecast period.

Global Smart Fitness Market: Regional Insights

North America held a dominant position in the worldwide wise fitness market in 2017, and is expected to retain its dominance throughout the forecast period (2018-2026). This development is caused by increasing number ofhealth problem related to weight problems for instance cardiovascular disorders, type two diabetes, as well as others, which specifically affects children, youth, and adults. For instance, based on the National Centre for Health’s studies, in 2017, in the U.S. forty % of adults as well as nineteen % of youths have been suffering from obesity. Therefore, growing concern among people concerning health associated issues is leading to increasing demand for fitness equipment, in order to handle their fitness. Hence, all these factors will help in propelling advancement of the smart fitness market in this kind of region.

Worldwide Smart Fitness Market: Competitive Landscape

Major players operating in the worldwide smart health industry are Apple Inc., Fitbit Inc., Garmin Ltd., Jawbone, LG Electronics, MAD Apparel, Inc., Samsung Electronics Co., Ltd., Sony Mobile Communications Inc., Polar Electro, and OMsignal. Major players in the market like Apple Inc., Others, Samsung, and Fitbit Inc. are concentrating on adopting mergers as well as acquisitions strategy, to be able to strengthen the foothold of theirs in the market. As an example, in February 2018, Fitbit, Inc. acquired the Twine Health. The target of the acquisition is increasing their offerings in the healthcare industry, which more helped the company to gain a competitive advantage in the marketplace.