The Business Research Company’s global market reports provide comprehensive analysis on the various markets in 27 industries across 60 geographies.

 As per The Business Research Company’s Fitness Tracker Global Market Report 2023, The global fitness tracker market is expected to grow  from $38.56 billion in 2022 to $46.46 billion in 2023 at a compound annual growth rate (CAGR) of 20.5%. The market size of the fitness tracker market is expected to grow to $94.3 billion in 2027 at a CAGR of 19.4%.

What was the major driver in the fitness tracker market?
The increase in incidence of health disorders is expected to propel the growth of the fitness tracker market going forward. A health disorder refers to a condition that has known physical causes and visible psychopathology. With a fitness tracker, there will be physical activity every day, which helps in preventing various health disorders. For instance, in 2020, according to the World Health Organization, a US-based government agency, chronic disease prevalence is expected to rise by 57%. Therefore, the increasing incidence of health disorders is driving the growth of the fitness tracker market.

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What was the key trend in the fitness tracker market?
Technological advancement is a key trend gaining popularity in the fitness tracker market. Major companies operating in the fitness tracker market are engaging in technological advancements to sustain their position in the market. For instance, in April 2021, Fitbit, a US-based consumer electronics and fitness company that is operating in the fitness tracker market, launched Fitbit Luxe, a fashion-forward health and wellness tracker with the fundamentals like heart and sleep tracking, breathing rate, stress management, and other such features. It added a touch of luxury with a stainless steel case and colour AMOLED display technology. It has a blood oxygen sensor and keeps track of stress with a daily stress score, sleep, heart rate, steps, active zone minutes, and 50-meter water resistance.

Which was the largest region in the fitness tracker market?
North America was the largest region in the fitness tracker market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fitness tracker market share report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Who are the fitness tracker market prominent players?
Major players in the fitness tracker market are Apple Inc., Garmin Ltd., Google LLC (Alphabet Inc.), Huawei Technologies Co. Ltd. (Huawei), NIKE Inc., Samsung Electronics Co. Ltd., Xiaomi Inc., Adidas Inc., Jawbone, Polar, Beienda, Ambiotex GmbH, Hexoskin, Fossil Group Inc., and TomTom N.V.

Key fitness tracker market segments
The global fitness tracker market is segmented –
1) By Device Type: Smart Watches, Fitness Band, Smart Glasses, Smart Clothing, Other Device Types
2) By Application: Heart Rate Tracking, Sleep Measurement, Glucose Measurement, Sports, Running, Cycling Tracking
3) By Distribution Channel: Online, Retail, Other Distribution Channel

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The Fitness Tracker Global Market Report 2023  provides a comprehensive overview on the fitness tracker market size, trends and drivers, opportunities, strategies, and companies analysis. Through our reports businesses can effectively analyze data and frame well-informed strategies

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