What is Fitness Watches Market?
The growing awareness towards fitness and health and rapid availability of wearable devices are becoming major drivers of the wearables industry. With the technology advancement regarding sensors will get smaller with time, in the future, it could soon even be woven into the fabric. And smart fitness devices have also become major trend in the fashion industry, today smart textiles are becoming major attractions for fitness. Talking about wearable technology, it has commonplace on the wrist and it is highly adopted by marathon runners and casual gym-goers. These fitness devices are highly used by personal trainers, fitness instructors. These devices help in maintaining a careful diet and exercise plan, track of a healthy heart. In currently the leading market players are focusing on enhancing awareness among consumers by setting out their stalls, campaigns, and other initiatives. The fitness industry continues to grow at a huge exponential rate, in terms of both who are attending gyms regularly and those also who retrieving the services of personal trainers.
The market study is being classified and major geographies with country level break-up.
Apple Inc. (United States), Fitbit Inc. (United States), Garmin Ltd. (United States), Xiaomi (China), LG Electronics (South Korea), MAD Apparel, Inc. (United States), Samsung Electronics Co., Ltd (South Korea), Sony Corporation (Japan), Polar Electro (Finland) and Letsfit, LLC (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Boat (United States), Adorama (United States) and Motorola Mobility (United States).
There are various companies are operating in this industry and heavily investing in technology development. There are various market players are entering this industry to capture market growth opportunities. The market leaders are investing in organic and non-organic strategic growth initiatives to become dominant in this industry. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Fitness Watches market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Fitness Watches market by Type, Application and Region.
On the basis of geography, the market of Fitness Watches 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.
- Growing Government Initiative Programs Related to Health Awareness
- Rising Awareness among People Related to Health and Fitness, The growth in the global health club industry across the globe is major driving for the development of the fitness industry. According to the study, the health club industry is generating USD 94 billion in FY 2019, as it was noticed around USD 87.2 billion in previous years.
- Technology Advancement Regarding Fitness Watch
- Fluctuation in Raw Material Cost
- Rising Demand among the Growing Urban Population
- Rising Demand from Emerging Economies such as India, China, Brazil, and Others
- Growing Demand for Connected Devices and Development of Key Enabling Technologies
- High Prices of Fitness Products
- Lack of Awareness of Fitness Products
In the year 2020, Samsung India announced the launch of the Aluminium Edition of Galaxy Watch Active2 4G. The company revealed that the entire smartwatches are made in India. As the company is known as the 2nd largest trusted smartphone brand, through this partnership the company is enhancing the portfolio in the watch industry and gaining market share in India.
Key Target AudienceVenture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Fitness Watch Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
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