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Global Wearable Fitness Technology Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

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  • 179 Pages
  • February 2024
  • Infogence Global Research
  • ID: 5515389
The Global Wearable Fitness Technology Market is estimated to be USD 12.8 Bn in 2023 and is expected to reach USD 25 Bn by 2028 growing at a CAGR of 14.32%.

Market Dynamics

The major growth drivers for the wearable fitness technology market are consumer preference for smart gadgets, increasing popularity of wearable fitness and medical devices, raising awareness about fitness, and a growing disposable income in developing economies. The rising popularity of these devices among recreational fitness enthusiasts and professional athletes is anticipated to drive the demand for wellness and fitness products during the forecast timeframe. However, factors such as data privacy concerns, high power consumption, and low battery life could also pose a threat to market growth. To maintain a competitive edge in this market, companies continuously invest in introducing new products, expanding their operations, or entering into strategic mergers and acquisitions, creating a unique opportunity for this market. However, Failure to achieve long-term engagement and Unaddressed regulatory issues create challenges for the market.

Market Segmentation

  • The Global Wearable Fitness Technology Market is segmented further based on Product Category, Product Type, Component, Technology, and Geography.
  • By Product Category, the market is classified into Hand-wear, Torso-wear, Legwear, Headwear, and Others
  • By Product Type, the market is classified into the Smart Watch, Smart Glasses, Smart Clothing, and Others.
  • By Component, the market is classified as Hardware, Software, and Services.
  • By Technology, the market is classified as Computing Technologies (Wearable Computers), Display Technologies (HUD, HMD, Amoled, and Augmented Reality), Networking Technologies (Bluetooth, NFC, AND+, and Wi-Fi), Positioning Technologies (GPS and Digital Compass), Sensor Technologies (Accelerometers and MEMS), and Speech Recognition Technologies.
  • By Geography, North America is to lead the market.

Recent Developments

1. Apple reveals Apple Watch Series 7, featuring a larger, more advanced display - 14th September 2021
2. Google acquired Fitbit, the company best known for its fitness bands and smartwatches. - 14th January 2021

Company Profiles

Some of the companies covered in this report are Fitbit Inc., Oura, Whoop, Withings, Polar, Samsung Electronics Co., Ltd., Sensoria Inc., Xiaomi Technology Co. Ltd, etc.

Countries Studied

  • America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
  • Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
  • Middle-East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
  • Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

  • The report offers a comprehensive evaluation of the Global Wearable Fitness Technology Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
  • The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
  • The report includes an in-depth market analysis using Porter’s 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
  • The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
  • The report also contains the competitive analysis using Positioning Quadrants, the Proprietary competitive positioning tool.

Report Highlights:

  • A complete analysis of the market, including parent industry
  • Important market dynamics and trends
  • Market segmentation
  • Historical, current, and projected size of the market based on value and volume
  • Market shares and strategies of key players
  • Recommendations to companies for strengthening their foothold in the market

Table of Contents

1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Stakeholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
3.1 Introduction
3.2 Market Size and Segmentation
3.3 Market Outlook
4 Market Influencers
4.1 Drivers
4.1.1 Increasing Demand for Smart Gadgets
4.1.2 Rising Trend of Fitness and Healthy Lifestyle
4.1.3 The Increasing Popularity of Wearable Fitness and Medical Devices
4.2 Restraints
4.2.1 Limited Battery Life and Sync Issues with Some Devices
4.2.2 High Cost of Manufacturing
4.3 Opportunities
4.3.1 Use of Smart Textiles and E-Textiles in Wearable Fitness Devices
4.3.2 Development of Prosthetics And Robotic Limbs (Exoskeletons)
4.3.3 Increasing Demand for Connected Devices
4.4 Challenges
4.4.1 Device Fatigue
4.4.2 Profound Implications for Data Privacy
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter’s Five Forces Analysis
5.3 Impact of COVID-19
5.4 Ansoff Matrix Analysis
6 Global Wearable Fitness Technology Market, By Product Category
6.1 Introduction
6.2 Handwear
6.3 Torsowear
6.4 Legwear
6.5 Headwear
6.6 Others
7 Global Wearable Fitness Technology Market, By Product Type
7.1 Introduction
7.2 Smart Watch
7.3 Smart Glasses
7.4 Smart Clothing
7.5 Others
8 Global Wearable Fitness Technology Market, By Component
8.1 Introduction
8.2 Hardware
8.2.1 Displays
8.2.2 Processors
8.2.3 Memory Chips
8.2.4 Power Management Components
8.2.5 Networking Components
8.2.6 User Interface Components
8.2.7 Sensors
8.2.8 Others
8.3 Software
8.3.1 Operating System (OS) Android Wear OS Tizen for Wearable Pebble OS Web 0S Watch OS LinkIt OS Others
8.3.2 Apps
8.4 Services
8.4.1 Personal Coach
8.4.2 Cloud Computing and Data Analytics
8.4.3 Others
9 Global Wearable Fitness Technology Market, By Technology
9.1 Introduction
9.2 Computing Technologies (Wearable Computers)
9.3 Display Technologies (HUD, HMD, Amoled, and Augmented Reality)
9.4 Networking Technologies (Bluetooth, NFC, AND+, and Wi-Fi)
9.5 Positioning Technologies (GPS and Digital Compass)
9.6 Sensor Technologies (Accelerometers and MEMS)
9.7 Speech Recognition Technologies
10 Global Wearable Fitness Technology Market, By Geography
10.1 Introduction
10.2 America
10.2.1 Argentina
10.2.2 Brazil
10.2.3 Canada
10.2.4 Chile
10.2.5 Colombia
10.2.6 Mexico
10.2.7 Peru
10.2.8 United States
10.2.9 Rest of Americas
10.3 Europe
10.3.1 Austria
10.3.2 Belgium
10.3.3 Denmark
10.3.4 Finland
10.3.5 France
10.3.6 Germany
10.3.7 Italy
10.3.8 Netherlands
10.3.9 Norway
10.3.10 Poland
10.3.11 Russia
10.3.12 Spain
10.3.13 Sweden
10.3.14 Switzerland
10.3.15 United Kingdom
10.3.16 Rest of Europe
10.4 Middle East and Africa
10.4.1 Egypt
10.4.2 Israel
10.4.3 Qatar
10.4.4 Saudi Arabia
10.4.5 South Africa
10.4.6 United Arab Emirates
10.4.7 Rest of MEA
10.5 Asia-Pacific
10.5.1 Australia
10.5.2 Bangladesh
10.5.3 China
10.5.4 India
10.5.5 Indonesia
10.5.6 Japan
10.5.7 Malaysia
10.5.8 Philippines
10.5.9 Singapore
10.5.10 South Korea
10.5.11 Sri Lanka
10.5.12 Thailand
10.5.13 Taiwan
10.5.14 Rest of Asia-Pacific
11 Competitive Landscape
11.1 Competitive Quadrant
11.2 Market Share Analysis
11.3 Strategic Initiatives
11.3.1 M&A and Investments
11.3.2 Partnerships and Collaborations
11.3.3 Product Developments and Improvements
12 Company Profiles
12.1 Apple Inc.
12.2 Google (Fitbit)
12.3 Fossil Group
12.4 Garmin Ltd.
12.5 Huawei Technologies Co., Ltd.
12.6 LG Electronics Inc.
12.7 Moov Inc.
12.8 Graycliff Partners Pebble Technology Corporation
12.9 Qualcomm
12.10 Samsung Electronics Co., Ltd.
12.11 Sensoria Inc.
12.12 Xiaomi Technology Co. Ltd.
12.13 Tomtom N.V.
12.14 Skagen Denmark
12.15 One plus Technology Co., Ltd.
12.16 Realme
12.17 Vuzix Blade
12.18 Fastrack
12.19 Oppo Corp., Ltd
12.20 Noise
12.21 Coros
12.22 Oura Health Ltd.
12.23 Whoop
12.24 Withings
12.25 Polar Inc.
13 Appendix
13.1 Questionnaire

Companies Mentioned

  • Apple Inc.
  • Google (Fitbit)
  • Fossil Group
  • Garmin Ltd.
  • Huawei Technologies Co., Ltd.
  • LG Electronics Inc.
  • Moov Inc.
  • Graycliff Partners Pebble Technology Corporation
  • Qualcomm
  • Samsung Electronics Co., Ltd.
  • Sensoria Inc.
  • Xiaomi Technology Co. Ltd.
  • Tomtom N.V.
  • Skagen Denmark
  • One plus Technology Co., Ltd.
  • Realme
  • Vuzix Blade
  • Fastrack
  • Oppo Corp., Ltd
  • Noise
  • Coros
  • Oura Health Ltd.
  • Whoop
  • Withings
  • Polar Inc.