This global industry research report presents a detailed analysis of the key trends, drivers, and challenges that influence market growth. It also includes an analysis of the key geographies like the Americas, ROW, APAC, and Europe. Leading vendors in the global fitness bands market are Fitbit, Garmin, Jawbone, and Xiaomi.
Technavio’s market research analysts estimate the global fitness bands market to generate revenues of $10 billion between 2015 and 2019. The major factors spurring the growth prospects of fitness bands market is the growing number of fitness conscious people across the globe. Fitness bands help in tracking sleep, calories consumed/burnt, distance walked, monitoring heart rate, and other activities. APAC is expected to be the fastest-growing region in the global fitness bands market. The prospects for growth in this region is driven by the availability of low-price range fitness bands, which results in its impressive market share of more than 33% by 2019.
The new market research report from Technavio provides a breakdown and analysis of the fitness bands segments by technology.
“Introduction of cross-over products in the market are gaining traction as they help to diminish the gap between a wrist-worn fitness device and a smartwatch. Products that primarily acts as a fitness device, as well as provides the basic functionalities of a smartwatch is expected to bolster market growth during the forecast period. For instance, the launch of products like Surge by Fitbit is expected to impel market growth as it is a fitness device that comes with calling and texting functionalities,” says Soumya Mutsuddi, Lead Analyst, Media & Entertainment, Technavio Research.
Fitness bands offer advantages like easy connectivity and compatibility, as they are adaptable with most of the mobile OS and can connect to any smartphone using Bluetooth. Also, they are gaining preference over smartwatches owing to their lower costs. Also, these bands help people in tracking their health without visiting the doctor. Of late, the prices of wearable technologies have come down, which has made these new generation devices affordable for consumers.
The leading vendors in the global fitness bands market include Fitbit, Garmin, Jawbone, and Xiaomi. This market is highly competitive and is expected to grow rapidly during the forecast period. Since this market has low entry barriers, the entry of new vendors is expected to intensify the competition between them. Companies that use innovative marketing strategies to sell their products are predicted to gain maximum market prominence during the forecast period.
A more detailed analysis is available in the Technavio report, Global Fitness Bands Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Global Smart Wearable Fitness and Sports Devices and Services Market 2015-2019
- Global Mobile Health and Fitness Sensor Market 2014-2018
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