What is Smart Sports Accessories Market?
Cities and countries want to become smart communities that improve the performance and well-being of their people. Both regular movements can be easily tracked and logged. Patients, professionals (Physical Education instructors, coaches, researchers, doctors, clinicians, etc.) and fitness (of any degree, from recreational to world-ranked) are all interested in tracking down empirical parameters. Innovation and technology will assist in the prevention and reduction of sports injuries, the improvement of sports technique, and the evaluation of the results delivered. Smart wearables (or gear) that can be used in all major sports, such as aquatics, athletics, boating, cycling, gymnastics, invasion games, net sports, winter sports, and more. Sensors may be embedded in sports equipment and apparel, offering real-time analytics on the subject's behaviour and performance. These wearable devices have potential uses in sportswear and have the potential to significantly transform athletes' experiences during athletics, much as smartphones, laptops, and other gadgets have in the recent past.
The market study is being classified by Type (Smart Watch, Smart Wristband, Sports Watch, Sports Camera, Chest Strap and Others), by Application (Cycling, Running sports, Golf, Swimming sports, Trekking and Mountaineering sports and Others) and major geographies with country level break-up.
Apple Inc. (United States), Samsung (South Korea), Sony Corporation (Japan), GoPro Inc. (United States), Fitbit Inc. (Google) (United States), Motorola Mobility LLC (Lenovo) (United States), LG Electronics (South Korea), Garmin Ltd. (United States), Huawei Technologies Co. Ltd. (China) and Xiaomi Corporation (China) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Wahoo Fitness (United States), Zepp (China), Polar Electro (Finland), Titan Company (Tata Group) (India), Fossil Group, Inc. (United States), Suunto Oy (Finland) and Realme (Oppo) (China).
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States & Finnish Vendors will contribute to the maximum growth of Global Smart Sports Accessories market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Smart Sports Accessories market by Type, Application and Region.
On the basis of geography, the market of Smart Sports Accessories has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Sports and Fitness Awareness
- Prevalence of Individual Sports Activities Including Cycling & Trekking
- Demand for Smart Devices in Heavily Urbanized Regions
- Integration with Advance Technologies Such as Artificial Intelligence (AI)
- Growth in E-Commerce Sales
- Accuracy and Durability Concerns
- Expensive Devices
- Growth in Sports Industry Post Pandemic
- Presence of Counterfeit Products
- Limited Functionality
Market Leaders and some development strategies
On 29th January, 2021 – Xiaomi Teased the Launch of “Mi Band 6” in Indian Market. This New Smart Band is Expected to Feature SP02 Meter and can be Controlled with Smartphones. This Launch is Followed by the Success of Xiomi’s Previously Launched Smart Watch. and On 26th October, 2020 – Realme Introduced its a Non-Pro Smartwatch Model “Realme Watch S”, this new line or Sports Watch Includes Innovative Features with 16 Sports Mode and up to 15 Days Lasting Battery, Designed as a Round-Faced watch 1.3-Inch Touchscreen.
Key Target AudienceSmart Sports Accessories Manufactures, New Entrants and Investors, Smart Sports Accessories Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
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