Smart Fitness Market Outlook, Sales Revenue, Strategy to 2026

Smart fitness equipment are used for physical exercises that help in managing overall weight, improve physical stamina, and develop muscular strength. These devices are wont to track information including sleep, steps, calories, pulse , and other physical status, which further help in improving the general fitness of the physical body .

Rising awareness among people associated with health and fitness is one among the main driving factors for growth of the worldwide smart fitness market. The factor attributed to growth of the market is rising health issues like obesity, diabetics, attack , which further increases demand for fitness equipment.

For instance, in 2013, consistent with the Institute for Health Metrics and Evaluation analysis, nearly 30% of the planet population was affected by obesity or overweight, globally. Moreover, consistent with the diabetics.org, the entire number of individuals within the U.S. affected by diabetics was 7.2 million in 2014, and in 2015, 1.5 million new cases were reported which was 6.7% per 1,000 persons. Therefore, increasing awareness among people will proportionally demand for such fitness equipment, which can help them to trace health related information like pulse , amount of calories burned and workout time. this is often expected to further help to enhance their overall fitness of the body, successively aiding in growth of the worldwide smart fitness market.

Furthermore, growing government initiative programs associated with health awareness is another factor propelling growth of the market. as an example , in May 2004, within the 57th World Health Assembly (WHA) endorsed the planet Health Organization's (WHO), Global Strategy on Diet, Physical Activity, and Health. The aim of this strategy is to market and protect health by guiding at each individual, community, national, and global level such it helps in reducing disease and death rates associated with unhealthy diet and physical inactivity.

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High price of smart fitness equipment is major factor that limits growth of the market. This pushed start-up gyms & fitness centres and in-house users to shop for second-hand equipment. Therefore, high prices of those equipment may be a major factor hampering purchase of latest equipment for commercial purposes. this is often expected to negatively affect sales of latest smart fitness equipment.

Global Smart Fitness Market: Segment Trends

On the idea of product type, the smart watch segment accounted for the most important market share in 2017 and is predicted to retain its position during the forecasted period. this is often due to high demand for wireless health monitoring devices. as an example , consistent with the Coherent Market Insights' analysis, the entire unit of smart watches sales in 2016 was US$ 36 million and it increased to US$ 76 million in 2017, globally. These smart watches perform multiple functions like real-time pulse monitoring, fitness monitoring, tracking footsteps, tracking number of calories burnt, overall sleep statistics, tracking exercise training, and tracking of user's daily routine to supply valuable insights on their health. This further helps doctor to diagnose their patient's health remotely. this is often expected to assist in growth of the segment over the forecast period.

Global Smart Fitness Market: Regional Insights

North America held a dominant position within the global smart fitness market in 2017, and is predicted to retain its dominance throughout the forecast period (2018-2026). This growth is attributed to increasing number ofhealth issue associated with obesity like heart condition , type 2 diabetes, et al. , which directly affects adults, youth, and youngsters . as an example , consistent with the National Centre for Health's analysis, in 2017, in the U.S. 40% of adults and 19% of youths were affected by obesity. Therefore, growing concern among people about health related issues is resulting in increasing demand for fitness equipment, so as to manage their fitness. Hence, of these factors will help in propelling growth of the smart fitness market during this particular region.

Global Smart Fitness Market: Competitive Landscape

Major players operating within the global smart fitness market 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 within the market like Apple Inc., Fitbit Inc., Samsung, et al. are that specialize in adopting mergers and acquisitions strategy, so as to strengthen their foothold within the market. as an example , in February 2018, Fitbit, Inc. acquired the Twine Health. The aim of the acquisition is to extend their offerings within the healthcare sector, which further helped the corporate to realize a competitive edge up the market.