The
global wearable tracking devices market is
expected to grow during the forecast period. The wearable tracking devices
allow the users to monitor their health and physical activity. These devices
can be worn on body 24*7, and the device continuously records your vitals
accurately like heart rate, quality of sleep, step count and others. The
growing trend of wearable fitness tracking device among the young generation is
the key factor for the market to grow. Furthermore, the increasing prevalence
of cardiovascular diseases, rising obesity rates, the rise of fitness consciousness
among the old population, increasing demand for sophisticated technology
devices, and modernization of lifestyle fuel the market growth.
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Segmentation
However, factors such as high costs of wearable
tracking devices, security issues, and different devices give different results
are some of the factors expected to hinder the market growth during the
forecast period.
Segmentation
The global wearable tracking devices market is
segmented on the basis of types, application, sales channel, and
end-user. The global wearable tracking devices market, by type, is
segmented into Wristwear, Footwear and other. The wristwear segment includes
Fitness Bands and Smartwatch. The Application segment is segmented into
Healthcare, Consumer electronics, and others. Sales Channel segment
consists of online and offline. On the basis of end-user, the market is
categorized into Sportsperson, Patients, and Others. On the basis of region,
the Global wearable tracking devices Market is segmented into the Americas,
Europe, Asia Pacific, and the Middle East and Africa.
The Americas is sub-segmented into North America
and South America. The North American region is further segmented into the US
and Canada. The European region is divided into two, namely, Western Europe and
Eastern Europe. Western Europe is further classified into Germany, Italy,
France, the UK, Spain, and the rest of Western Europe. The Asia Pacific region
is sub-segmented into Japan, China, India, Australia, the Republic of Korea,
and the rest of Asia Pacific. The Middle Eastern and African region is
sub-segmented into the United Arab Emirates, Saudi Arabia, Oman, Kuwait, Qatar,
and the rest of the Middle East and Africa.
Key players
Some of the key players for the Global wearable
tracking devices Market are Adidas (Germany), Gramin Ltd (Switzerland),
Apple Inc (US), Pebble Technology Corp (US), Samsung Electronics Co Ltd
(South Korea), Sony (Japan), Fitbit, Inc. (US), Google Inc. (US), Xiaomi
Technology Co., Ltd. (China), Jawbone (US), Nike (US).
Regional Market Summary
The wearable tracking devices market is dominated
by North America owing to rising cardiovascular diseases in this region.
According to the CDC in 2015, 366,000 people died due to heart disease.
The presence of major market players such as Apple,
Nike, and Jawbone in this region also influences the market growth.
It is estimated that Europe stood second in the
global wearable tracking devices market. The rising obesity in this region is
driving the growth of the market. In the EU, 51.6 percent of people are
overweight. Thus, this enhances the global wearable tracking devices Market in
this region.
The Asia Pacific will witness growth for the
wearable tracking devices market owing to the trend of wearable fitness
tracking device among the young generation. China, India, and Japan are key
market players in this region and is expected to be the largest market for the
wearable tracking devices. India has 60% of the young population below 35
years. Thus, this provides favorable backgrounds for the market to grow.
The Middle East and Africa holds the least share in
the Global wearable tracking devices Market due to the presence of stringent
government policies and poor economies.
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