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Fitness Trackers Market is expected to reach $62,128 million | Scope and overview, Global Insights and Trends, Forecasts to 2031 | Progressing at a CAGR of 19.6% During The Forecast Period

The global fitness trackers market size was valued at $17,907 million in 2016, and is expected to reach $62,128 million by 2023, registering a CAGR of 19.6% during the forecast period.

Fitness trackers are devices used to track and monitor fitness-related data such as calorie consumption, distance covered, heartbeat rate, sleep duration, sweat rate, and body temperature. These devices are wirelessly synced with a smartphone or a computer. They are incorporated with software and sensors to enhance the connectivity to share and exchange data. They are widely used in sports and fitness centers to monitor fitness and health-related parameters.

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The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.

This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.

The global fitness trackers market is currently growing at a significant rate, owing to increase in use of fitness trackers among the young population. In addition, upsurge in disposable income and increase in expenditure on wearable technology propel the growth of the fitness trackers market. Moreover, advancements in technology, increase in health consciousness among consumers, and rise in demand for fitness trackers from fitness centers are some key factors driving the overall market growth. However, high costs of these devices, data theft risk, and rise in competition from local players hamper the fitness trackers market growth.

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The report segments the global fitness trackers industry on the basis of device type, display type, sales channel, compatibility, and geography. Based on device type, the market is categorized into fitness bands, smartwatches, and others. By display type, it is classified into monochrome display and colored display. In terms of sales channel, it is divided into online and offline. Depending on compatibility, it is classified into iOS, android, windows, tizen, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Major players of the fitness trackers industry have adopted product development as their key developmental strategy to strengthen their foothold in the fitness trackers market. The key players profiled in the report include Fitbit Inc., Samsung, Xiaomi Inc., Jawbone, Nike, Adidas, Misfit Wearables Inc., Shenzhen Motto Electronics Co. Ltd., Google LLP, and Apple. Inc.

KEY BENEFITS FOR STAKEHOLDERS
>The report provides an extensive analysis of the current and emerging market trends and opportunities in the global fitness trackers market.
>The report provides detailed qualitative and quantitative analysis of current trends and future estimations that assists in evaluating the prevailing market opportunities.
>Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
>Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
>The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.

FITNESS TRACKERS MARKET SEGMENTS

By Device Type
>Wrist Bands
>Smart Watch
>Others

By Display Type
>Monochrome Display
>Colored Display

By Sales Channel
>Online Sales
>Retail Sales

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By Compatibility
>iOS
>Android
>Windows
>Tizen
>Others

By Geography
>North America ?U.S.
?Canada
?Mexico

>Europe ?Germany
?France
?UK
?Rest of Europe

>Asia-Pacific ?China
?India
?Japan
?South Korea
?Rest of Asia-Pacific

>LAMEA ?Brazil
?UAE
?Turkey
?South Africa
?Rest of LAMEA

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What are the aspects of this report that relate to regional analysis?

The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.

Reports on the market include the growth rates of each region, which includes their countries, over the coming years.

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This report provides a comprehensive analysis of leading competitors in the market.

The report includes information about the key vendors in the market.

The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.

The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.

A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.

Following are the questions answered by the Market report:

What are the goals of the report?

This market report shows the projected market size for the pain management devices market at the end of the forecast period. The report also examines the historical and current market sizes.

On the basis of various indicators, the charts present the year-over-year growth (%) and compound annual growth rate (CAGR) for the given forecast period.

The report includes an overview of the market, its geographical scope, its segmentation, and the financial performance of key players.

The report examines the current state of the industry and the potential growth opportunities in North America, Asia Pacific, Europe, Latin America, and the Middle East, and Africa.

The research report includes various factors contributing to the market’s growth.

The report analyzes the growth rate, market size, and market valuation for the forecast period.

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What factors are taken into consideration when assessing the key market players?

The report analyzes companies across the globe in detail.

The report provides an overview of major vendors in the market, including key players.

Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.

This report includes a comparison of market competitors and a discussion of the standpoints of the major players.

Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.

What are the key findings of the report?

This report provides comprehensive information on factors expected to influence the market growth and market share in the future.

The report offers the current state of the market and future prospects for various geographical regions.

This report provides both qualitative and quantitative information about the competitive landscape of the market.

Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.

It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.

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