Wearable Fitness Trackers Market - Wrist Wear Product Type Segment Expected to Remain Dominant over the Forecast Period
The wrist wear segment is
anticipated to exhibit high market attractiveness index over the
opportunity assessment period
Wrist wear segment is
projected to be the most attractive in the global
wearable fitness trackers market during the opportunity
assessment period. The segment is estimated be valued more than US$
14 Bn in 2017 and is expected to witness steady growth in terms of
revenue throughout the projected period, representing a CAGR of 16.3%
during the projected period. Leg wear segment is expected to
register moderate Y-o-Y growth rate throughout the estimated period.
In terms of value, this segment is expected to expand at a CAGR of
16.1% between 2017 and 2027.
Increasing number of online
stores, usage of smart phones and rising use of wearable fitness
trackers in healthcare sectors create new opportunities in the global
wearable fitness trackers market
The increase in number of
online stores across the globe will offer a new platform for wearable
fitness trackers accessories vendors to approach customers. With an
increasing demand of wearable fitness trackers, the vendors in the
market are providing their trackers also in the form of online
accessories. With an evolution in technology and digitalsation,
everyone is moving toward online shopping and secured transactions.
This advancement will provides huge opportunity for the vendors
operating in the global wearable fitness trackers market in the near
future.
The prime factor responsible
for the popularity of the wearable fitness trackers is that users can
wear them 24*7 and can witness real time monitoring of the collected
data that too on devices which can be carried anywhere and anytime.
The increasing usage of
smartphones in the market is creating demand of wearable fitness
trackers. In the present era, almost everyone use a smartphone. The
applications in these smartphones offer an easy monitoring of the
fitness trackers. Due to this advancement, the demand of wearable
fitness trackers is also increasing since these trackers are easy to
carry, user friendly, and compatible with most of the smartphones.
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With the rapidly increasing
health issues in all age groups, patients and doctors both are more
focused on developing the medium through which doctors are able to
monitor the health of the patients through devices. This is very
prime opportunity for the manufacturers to develop new features in
the wearable fitness trackers. Currently devices which can monitor
the heart rate are available in the market but with increasing
technological advancements, the manufacturers are now able to develop
the devices to monitor the blood pressure fluctuations, and sugar
level in the body. The direct syncing of such devices with the
doctors reduces the health risks of the patients as the recorded data
is stored and analysed by the doctors which can help in finding out
the future risks such as heart attacks, and high blood sugar level.
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