Future Market Insights (FMI) predicted in its smart fitness industry report that the market's demand will grow at a respectable CAGR of 12% between 2021 and 2031.

The survey also predicts that by the end of 2021, the market would be worth more than US$ 15 billion. According to FMI, developments in wearable sensing technology and the introduction of affordable wearable fitness trackers for health monitoring and managing health issues will continue to be the key growth drivers.

As wearable fitness trackers have grown in popularity over the past few years, manufacturers have been encouraged to concentrate on creating new designs and patterns for bands, watches, and other items that can be carried or attached to easily.

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Key Takeaways: Smart Fitness Market

By component, the smart accessories segment is anticipated to account for the leading share in the global demand for smart fitness. The segment is estimated to grow at a robust CAGR through 2031.

The adoption of smart accessories like smart watches is expected to rise at maximum pace. As per FMI, demand in this segment will increase by a 2X between 2021 and 2031.

North America is expected to lead the market followed by Europe in 2021.

South Asia Pacific is anticipated to emerge as the fastest growing region between 2021 2031.

The market in U.K. is expected to progress at a CAGR of around 15% through 2031.

In the India, sales are expected to increase at a CAGR of nearly 18% over the next ten years.

Demand for Wearable Devices is Bolstering the Market Growth

The demand for wearable devices such as smart bands, smart watches, activity trackers integrated with AI capabilities is increasing as these devices help in detecting irregularities in health data and give early warnings for condition like heart disease or diabetes. AI-enabled wearable devices are gaining traction as they help in monitoring the health and give alerts about movements, incorrect posture, and other vital health factors.

Wearable device provides fitness, sleep, and recovery data to help an individual adopt a healthy lifestyle. Many smart watch vendors are adding blood oxygen sensors in their device as standard, ECG monitors, and other functionalities to provide warnings or early signs of potential ailment and make suggestions about improvement in health.

More Valuable Insights on Smart Fitness Market

FMI’s report on the smart fitness industry research is segmented into three major sections – component (smart accessories, strength training equipment, cardiovascular equipment, cross-training equipment), smart accessories (smart watches, smart bands, activity trackers, heart rate, monitor, pedometer, sleep quality monitor), and region (North America, Latin America, Europe, East Asia, South Asia Pacific, Middle East Africa), to help readers understand and evaluate lucrative opportunities in the smart fitness demand outlook.

Smart Fitness Outlook by Category

By Component:

Smart Accessories

Strength Training Equipment

Cardiovascular Equipment

Cross-training Equipment

By Smart Accessories:

Smart Watches

Smart Bands

Activity Trackers

Heart Monitor

Pedometer

Sleep Quality Monitor

By Region:

North America

Latin America

Europe

East Asia

South Asia Pacific

Middle East Africa

Executive Summary

Global Market Outlook

Demand Side Trends

Supply Side Trends

Analysis and Recommendations

Market Overview

Market Coverage / Taxonomy

Market Definition / Scope / Limitations

Key Market Trends

Key Trends Impacting the Market

Product Innovation / Development Trends

Pricing Analysis

Pricing Analysis, By Product Type

Global Average Pricing Analysis Benchmark

COVID-19 Pandemic Crisis Impact Analysis

Impact of COVID-19 Pandemic Crisis on Smart Fitness Market

Pre-COVID-19 Growth Analysis 

Post-COVID-19 Impact Analysis

Expected Recovery Scenario (Short-term / Mid-term / Long-term)

Key Action Points for Smart Fitness Product Vendors

Market Structure Analysis

Market Analysis by Tier of Companies 

Market Concentration

Market Share Analysis of Top Players

Market Presence Analysis

Regional footprint by Players

Solution footprint by Players

Channel footprint by Players

About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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