February 10, 2021
According to the research report titled ‘Global Smart Wearables for Sports and Fitness Market Size study, by Type (Watches, Activity Trackers and Others), By Applications (Training, Sports and Others) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global smart wearables for sports and fitness market is expected to grow significantly during the period of 2020-2027.
Increasing popularity of smart wearables among young population coupled with increasing number of sporting participations are key factors driving the growth of global smart wearables for sports and fitness industry. Integration of wireless sensors in player equipment has allowed sports views to have access to real-time movements and performance, which in turn is also aiding towards the market expansion.
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It is worth mentioning that fitness & activity trackers are electronic equipment that track and record health-related indicators such as sleep quality, calorie intake, heart rate, and distance covered during cycling or walking. These devices offer several benefits such as player safety assessment, metrics for physical conditioning, and workout injury prevention, thereby stimulating global smart wearables for sports and fitness market outlook.
Rising health concerns coupled with increased pervasiveness of chronic conditions such as obesity have impelled the demand for wearable devices including body monitors and activity trackers in order to gain real-time information regarding the body, and hence is adding traction to global smart wearables for sports and fitness market size.
Focus among leading companies towards innovative product launches, improve consumer base, and expanding their respective geographical reach is also facilitating the overall business outlook.
The regional scope of the overall market consists of Europe, North America, Asia-Pacific, Latin America and the rest of the world. Estimates cite that Asia-Pacific is estimated to account for the largest share in worldwide smart wearables for sports and fitness industry by the year 2027. Increasing internet penetration, widespread adoption of technologically advanced products, and flourishing e-commerce sector are swaying the business dynamics in Asia-Pacific.
Xiaomi Corp., Sony Corp., Samsung Electronics Co. Ltd., Microsoft Corp., Jabra, Huawei Technologies Co. Ltd., Google LLC, IBM Corp., Fitbit Inc., Apple Inc., and Amazon.com Inc. are the key participants in global smart wearables for sports and fitness market.