Fitness tracker market size to reach USD 105110M

The Fitness Tracker Market is Segmented by Type , by Application . The report covers global opportunity analysis and industry forecasts from 2021 to 2027. It is published in Valuates Reports under Beauty & Fitness Category.

The global Fitness Tracker market size is projected to reach USD 105110 Million by 2027, from USD 23470 Million in 2020, at a CAGR of 25.4% during the forecast period 2021-2027.

The fitness tracker market is expected to develop as people become more aware of the need of staying healthy and fit by tracking their exercise activities. These fitness trackers have progressed from being merely a pedometer to becoming a smarter device with a colorful display that records sleep patterns, measures heart rate, and acts as an activity monitor, among other things. People are being pushed not only towards a healthy diet but also into physical activities as a result of rising health concerns. Fitness trackers enable consumers to keep track of their workouts, resulting in a surge in demand for fitness monitoring devices.

Furthermore, the rise in COVID-19 cases has in turn increased the sales of fitness tracking gadgets. COVID-19 raised health awareness among the masses, resulting in an increase in sales of fitness trackers.

Rising disposable income and increasing expenditure on wearable technology are factors likely to foster fitness tracker’s market growth.

Based on region, Europe is the largest market with about 37% market share. The USA held the second position, accounting for about 28% market share.

Based on end-user, online channels are likely to dominate the fitness tracker market share in the global market. The market’s domination is attributed to a rise in internet penetration, as well as the widespread availability of these apps on smartphones, which is boosting the market’s online distribution channel globally. PR Newswire