Global Smart Wearable Fitness And Sports Devices Market Size By Product (Smart Wearable Sports Devices, Smart Wearable Fitness Devices), By Application (Retail Stores, Specialty Stores, Online Stores), By Geographic Scope And Forecast
Report ID: 21014|No. of Pages: 202
Global Smart Wearable Fitness And Sports Devices Market Size By Product (Smart Wearable Sports Devices, Smart Wearable Fitness Devices), By Application (Retail Stores, Specialty Stores, Online Stores), By Geographic Scope And Forecast
Smart Wearable Fitness And Sports Devices Market Size And Forecast
Smart Wearable Fitness And Sports Devices Market size was valued at USD 91.45 Billion in 2023 and is projected to reach USD 111.40 Billion by 2030, growing at a CAGR of 12.1% from 2024 to 2030.
The increasing popularity of fitness wearables among people and rapidly growing advancement in technology have increased the demand for various features in the fitness devices are fueling the growth of the Smart Wearable Fitness And Sports Devices Market. The Global Smart Wearable Fitness And Sports Devices Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Smart Wearable Fitness And Sports Devices Market Definition
In recent days, massive innovations in the world of wearable technology and advances in wearable technology have potentially transformed the business, lives of people and also shown a positive impact on the global economy. Wearable technology is also termed wearable. It is a category of electronic devices that can be worn as accessories, implanted in the body of the user, placed in clothing, or even in recent days tattooed on the skin. These devices are hands-free gadgets that are used for practical uses. Smart Wearable Fitness and Sports Devices are powered by microprocessors and it helps enhance the ability to send and receive data through the internet.
The growing world of mobile networks has fueled the development of wearable technology. The first big wave of wearable technology was Fitness activity trackers to attract the consumer’s mind. After that, the wristwatch with more rebuts mobile application has taken a position in the market and became popular. Other web services such as Bluetooth headsets, smartwatches, and AI-enabled glasses all allow consumers to receive data from Wi-Fi networks. For instance, Cyrcadia Health has developed iTBra which is an intelligent patch that is used to detect early signs of breast cancer and also transmit the information to analysts for further analysis.
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Global Smart Wearable Fitness And Sports Devices Market Overview
The increasing need for daily activity monitoring and the growing demand for heart rate monitoring devices due to the increasing prevalence of cardiovascular disorders are fueling the growth of the Smart Wearable Fitness And Sports Devices Market. Additionally, rising awareness about health issues and growing concern regarding health among people across the globe are other factors boosting the growth of the Smart Wearable Fitness And Sports Devices Market.
Furthermore, people are becoming more conscious about their fitness, and Smart wearables are used to provide all the essential data regarding fitness and monitor it, thus increasing the adoption of smart wearables by consumers are fueling the growth of the Smart Wearable Fitness And Sports Devices Market. In addition, increasing advancements in technology and increasing demand for wireless sports and fitness devices along with the adoption of smart devices by athletes, swimmers, runners, and gym-goers are propelling the demand for Smart Wearable Fitness and Sports Devices.
Moreover, increasing demand for effortlessly control notifications related to body and fitness, auto sleep alarms, and music, all these facilities provided by smart wearables are driving the growth of the Smart Wearable Fitness And Sports Devices Market. On the other hand, higher manufacturing costs and huge local products available are anticipated to restrict the growth of the Smart Wearable Fitness And Sports Devices Market. Nevertheless, the changing lifestyle of the people and more attention towards fitness and sports are likely to provide huge opportunities for the Smart Wearable Fitness And Sports Devices Market in the coming years.
Global Smart Wearable Fitness And Sports Devices Market: Segmentation Analysis
The Global Smart Wearable Fitness And Sports Devices Market is Segmented on the basis of Product, Application, And Geography.
Smart Wearable Fitness And Sports Devices Market, By Product
- Smart Wearable Sports Devices
- Smart Wearable Fitness Devices
Based on Product, the market is bifurcated into Smart Wearable Sports Devices and Smart Wearable Fitness Devices. The smart Wearable Fitness Devices segment is accounted for holding the largest share and is also expected to grow at the fastest pace during the forecasted period. Various factors that are contributing to the growth of the segment are increasing concern regarding fitness among consumers and consumers are using such devices for tracking fitness activities.
Smart Wearable Fitness And Sports Devices Market, By Application
- Retail Stores
- Specialty Stores
- Online Stores
Based on Application, the market is segmented into Retail Stores, Specialty Stores, and Online Stores. Specialty Stores segment is accounted for holding the largest share in the Smart Wearable Fitness And Sports Devices Market. Various factors that are fueling the growth of the segment are the availability of products only in brand outlets and discounts offered by specialty stores on smart devices.
Smart Wearable Fitness And Sports Devices Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the world
On the basis of Geography, the Global Smart Wearable Fitness And Sports Devices Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America is accounted for holding the largest share in the market due to the decline in the ASP of wearable devices and early adoption of smart devices for fitness and sport among the consumers. Additionally, the high disposable income of the people in the region is boosting the growth of a decline in the ASP of wearable devices in the region.
Key Players
The “Global Smart Wearable Fitness And Sports Devices Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Apple, Google, Samsung, Sony, Garmin, TE Connectivity, Adidas, Nike, Fitbit, Samsung Electronics, LG Electronics, Xiaomi.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Key Developments
Partnerships, Collaborations, and Agreements
• In January 2021, Withings which is a consumer electronics manufacturing company and has a healthy ecosystem of connected devices & apps which includes hybrid smartwatches has announced a partnership with Redox. The aim of this partnership is to develop MED·PRO CARE. It is a remote patient monitoring solution and has compatibility with all EHRs used by hospitals and doctors.
Mergers and Acquisitions
• In November 2019, Fitbit Inc. which is a consumer electronics and fitness company has been acquired by Google LLC which is a US-based multinational technology company for USD 2.1 billion. The aim of this acquisition is to strengthen the company’s position in the business of smart wearable devices as Fitbit Inc. is a specialized company is producing wireless wearable technology devices.
• In February 2020, HUG Innovations which is a technology and wearable company has been acquired by Titan Company at an undisclosed amount in order to scale up the company’s watch business in the digital space. In addition, it is planning to launch a new smartwatch at an affordable price.
Product Launches and Product Expansions
• In April 2021, Fitbit Luxe which is a wellness and fashion-forward fitness tracker was launched by Fitbit Inc. which is a consumer electronics and fitness company. This tracker will enable a more holistic approach towards health and wellness. It has features like a color touchscreen, five days of battery life, sleek design, and is available with a wide range of stylish accessories.
• In September 2021, the Apple Watch Series 7 was launched by Apple Inc. The Apple Watch Series offers more screen area and has the most advanced display compared to previous watch series and has thinner borders. Apple Watch Series 7 has features like faster charging, aluminum case colors, enhanced durability, and watch OS 8
• In August 2021, the Galaxy Watch4 and Galaxy Watch4 Classic smartwatches were launched by Samsung Electronics. These smartwatches are powered by OS which is jointly built with Google and runs of the One UI Watch interface. In addition, to deliver a connected and seamless user experience to its consumers it is equipped with advanced hardware.
Report Scope
| Report Attributes | Details |
|---|---|
| STUDY PERIOD | 2020-2030 |
| BASE YEAR | 2023 |
| FORECAST PERIOD | 2024-2030 |
| HISTORICAL PERIOD | 2020-2022 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Apple, Google, Samsung, Sony, Garmin, TE Connectivity, Adidas, Nike. |
| SEGMENTS COVERED |
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| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Research Methodology of Verified Market Research:
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
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Customization of the Report
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Frequently Asked Questions
1 INTRODUCTION OF GLOBAL SMART WEARABLE FITNESS AND SPORTS DEVICES MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL SMART WEARABLE FITNESS AND SPORTS DEVICES MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL SMART WEARABLE FITNESS AND SPORTS DEVICES MARKET, BY PRODUCT
5.1 Overview
5.2 Smart Wearable Sports Devices
5.3 Smart Wearable Fitness Devices
6 GLOBAL SMART WEARABLE FITNESS AND SPORTS DEVICES MARKET, BY APPLICATION
6.1 Overview
6.2 Retail Stores
6.3 Specialty Stores
6.4 Online Stores
7 GLOBAL SMART WEARABLE FITNESS AND SPORTS DEVICES MARKET, BY GEOGRAPHY
7.1 Overview
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 U.K.
7.3.3 France
7.3.4 Rest of Europe
7.4 Asia Pacific
7.4.1 China
7.4.2 Japan
7.4.3 India
7.4.4 Rest of Asia Pacific
7.5 Rest of the World
7.5.1 Latin America
7.5.2 Middle East & Africa
8 GLOBAL SMART WEARABLE FITNESS AND SPORTS DEVICES MARKET COMPETITIVE LANDSCAPE
8.1 Overview
8.2 Company Market Ranking
8.3 Key Development Strategies
9 COMPANY PROFILES
9.1 Apple
9.1.1 Overview
9.1.2 Financial Performance
9.1.3 Product Outlook
9.1.4 Key Developments
9.2 Google
9.2.1 Overview
9.2.2 Financial Performance
9.2.3 Product Outlook
9.2.4 Key Developments
9.3 Samsung
9.3.1 Overview
9.3.2 Financial Performance
9.3.3 Product Outlook
9.3.4 Key Developments
9.4 Sony
9.4.1 Overview
9.4.2 Financial Performance
9.4.3 Product Outlook
9.4.4 Key Developments
9.5 Garmin
9.5.1 Overview
9.5.2 Financial Performance
9.5.3 Product Outlook
9.5.4 Key Developments
9.6 TE Connectivity
9.6.1 Overview
9.6.2 Financial Performance
9.6.3 Product Outlook
9.6.4 Key Developments
9.7 Adidas
9.7.1 Overview
9.7.2 Financial Performance
9.7.3 Product Outlook
9.7.4 Key Developments
9.8 Nike
9.8.1 Overview
9.8.2 Financial Performance
9.8.3 Product Outlook
9.8.4 Key Developments
9.9 Fitbit
9.9.1 Overview
9.9.2 Financial Performance
9.9.3 Product Outlook
9.9.4 Key Developments
9.10 Samsung Electronics
9.10.1 Overview
9.10.2 Financial Performance
9.10.3 Product Outlook
9.10.4 Key Developments
10 Appendix
10.1 Related Research
Report Research Methodology
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Exploratory data mining
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Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
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| Supplier side |
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Econometrics and data visualization model
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The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
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- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
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We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
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Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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