Fitness Tracker Market Size To Reach $162.75 Billion By 2030

Fitness Tracker Market Growth & Trends 

The global fitness tracker market size is expected to reach USD 162.75 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 17.6% from 2023 to 2030. The increasing prevalence of chronic diseases such as obesity, diabetes and heart diseases is one of the major drivers of the fitness tracker market. According to World Health Organization (WHO), approximately more than 1 billion people in the world are obese, and they estimate that by 2050, the number of less healthy people would increase up to 167million.

In September 2022, Fitbit Inc. launched Sense 2 and Versa 4, both are compatible with android and iOS. The advanced features include PPG algorithm and FitBit ECG app which can detect atrial fibrillation, heart rate variability, and blood glucose tracking.

The pandemic of COVID-19 has impacted the market positively. It has led to awareness with respect to health and fitness, thereby resulting in an increase in the adoption of fitness trackers. Furthermore, the market players had introduced specific tracking indications during the pandemic to capture the growing market demand and changing consumer requirements. For instance, Fitbit, Inc., in 2020, launched Sense with ECG monitor, SpO2 level monitor and stress management features for catering to the growing demand.

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Fitness Tracker Market Report Highlights

• The smartwatch segment accounted for the largest revenue share of 48.7% in 2022. Continuous product developments with respect to features and functions, will drive the segment growth over the years to come

• In 2022, the online distribution channel segment dominated the global market with a share of 64.8%

• In 2022, North America held the highest revenue share of 42.2% owing to the rise in awareness and adoption of fitness trackers

• Asia Pacific, on the other hand, is anticipated to have the highest rate of growth in the regional market from 2023 to 2030 as a result of the high adoption of fitness trackers in the working-class population

• The running application segment held the maximum revenue share of 22.8% in 2022. High competition and consumer preferences have led to the availability of most of these applications in the majority of fitness tracking 

Fitness Tracker Market Segmentation

Grand View Research has segmented the global fitness tracker market based on type, application, distribution channel, and region:

Fitness Tracker Type Outlook (Revenue, USD Million, 2018 - 2030)

• Smart Watches

• Smart Bands

• Smart Clothing

• Others

Fitness Tracker Application Outlook (Revenue, USD Million, 2018 - 2030)

• Heart Rate Tracking

• Sleep Monitoring

• Glucose Monitoring

• Sports

• Running Tracking

• Cycling Tracking

• Others

Fitness Tracker Distribution channel Outlook (Revenue, USD Million, 2018 - 2030)

• Online

• Offline

Fitness Tracker Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • U.K.

  • France

  • Italy

  • Spain

  • Norway

  • Denmark

  • Sweden

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait 

List of Key Players of Fitness Tracker Market 

• Apple, Inc.

• Fitbit, Inc.

• Garmin Ltd.

• Ambiotex GmbH

• Samsung Electronics Co. Ltd.

• Fossil Group, Inc.

• Huawei Technologies Co. Ltd.