Apple Inc. (U.S.), Huawei Technologies Co., Ltd. (China), Fitbit Inc. (U.K.), Nike, Inc. (U.S.), Under Armour, Inc (U.S.), and Koninklijke Philips N.V. (Netherlands) are Some of the Major Players Operating in the Market

The market scope includes wearable technology (also known as wearable devices) used by athletes and sports teams. Similar to consumer wearables, sports wearables frequently include tracking data for fitness and health. Sports wearables integrate with other analytical tools to deliver insights that may be used to boost productivity and plan for the future. These wearable devices feature tiny motion sensors to collect data and sync with mobile devices.

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Data Bridge Market Research analyses that the Wearable Devices in Sports Market which was USD 79.94 billion in 2021, would rocket up to USD 212.67 billion by 2029, and is expected to undergo a CAGR of 13.01% during the forecast period 2022 to 2029. The arrival of major companies, portable and convenient usage, increased healthcare awareness, the skyrocketing cost of manufacturing, and technological advancements are some of the factors impacting wearable devices in the sports industry. These crucial elements have facilitated the use of wearable technology. Customers favor wearable gadgets like activity trackers, smartwatches, and smart clothes due to their many benefits, including portability and the most cutting-edge technological improvements.                 

The increasing health consciousness among the individuals across the world will drive the market's growth rate

As people's awareness of their health has increased, sports-related gadgets like shot trackers, pedometers, and smart cameras have become increasingly popular. For tracking everyday activity, these devices provide daily statistics. Among wearable technology, smart watches and fitness trackers have recently risen to prominence. smart watches, fitness trackers, and Bluetooth-enabled cameras are examples of recent technological breakthroughs.

Report Scope and Market Segmentation

Segment Analysis:

Global wearable devices in sports market is categorized into six notable segments based on component, product type, site, application, end user and distribution channel.

• On the basis of component, the global wearable devices in sports market is segmented into hardware and software. In 2021, software segment is dominating the global wearable devices in sports market with the market share of 65.0% due to its wide application and convenient nature of advanced artificial intelligence incorporation.
• On the basis of product type, the global wearable devices in sports market is segmented into pedometers, fitness & heart rate monitoring, smart fabrics, smart camera, shot tracker and others. In 2021, pedometers segment is dominating the global wearable devices in sports market with a market share of 40.1% as they motivate athletes during training independently by tracking their fitness plans.
• On the basis of site, the global wearable devices in sports market is segmented into headband, handheld, arm & wrist, clip, shoe sensor and others. In 2021, handheld, arm & wrist segment is dominating the global wearable devices in sports market with a market share of 50.3% since watches are more convenient in tracking most trainers' vitals.
• On the basis of application, the global wearable devices in sports market is segmented into step counts, calorie burnt, heart rate monitoring, sleep tracking and others. In 2021, the step counts segment is dominating the global wearable devices in sports market with a market share of 38.4% since several people track their jogging and morning routine walk counts using tracking watches.
• On the basis of end user, the global wearable devices in sports market is segmented into sports centers, fitness centers, homecare settings and others. In 2021, the sports centers segment is dominating the global wearable devices in sports market with a market share of 59.1% since every sport player intends to track their fitness routines to maintain records.

The sports centers segment will dominate the end user segment of the wearable devices in sports market

The sports centers segment will emerge as the dominating segment end user segment. This is because of the growing number of sports centers in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.

• On the basis of distribution channel, the global wearable devices in sports market is segmented into independent retail store, hypermarket/ supermarket, brand store and online sale channel. In 2021, the independent retail store segment is dominating the global wearable devices in sports market with the market share of 53.5% as they allow easy availability for various consumers.

The independent retail store segment will dominate the distribution channel segment of the wearable devices in sports market

The independent retail store segment will emerge as the dominating segment under distribution channel. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the healthcare industry all around the globe will further bolster the growth of this segment.

Major Players         

Data Bridge Market Research recognizes the following companies as the market players in market: Apple Inc. (U.S.), Huawei Technologies Co., Ltd. (China), Fitbit Inc. (U.K.), Nike, Inc. (U.S.), Under Armour, Inc (U.S.), Koninklijke Philips N.V. (Netherlands), Zepp Health corporation (China), StretchSense a Sensor Holdings Limited company (U.S.), Catapult (U.S.), Withings (France), Guangdong Transtek Medical Electronics Co., Ltd (China), Abbott (U.S.), Medtronic (Ireland), Apple Inc. (U.S.), Virtual-Realties, LLC (U.K.), Google LLC (U.S.), adidas India Marketing Pvt. Ltd (Germany), Xiaomi (China), Sony Corporation (Japan), Garmin Ltd. (U.S.), Honeywell International Inc. (U.S.), LG Electronics (South Korea).

Market Development

• In April 2021, Bio-Beat partnered with Amwell, delivering telehealth solutions for over 2,000 hospitals covering over 80 million lives. The motive of this partnership was to improve Bio-Beat's AI powered wearable remote monitoring products with virtual care, thereby further enhancing their products for more reach
• In June 2021, Apple, Inc. previewed its newest retail location at the historic Tower Theatre in downtown Los Angeles. One of Apple's most significant restoration projects to date, Apple Tower Theatre aims to inspire even more creativity in the heart of downtown. Apple will also launch at Apple Creative Studios, a global initiative that will provide hands-on experience and mentorship to young creatives, kicking off with opening the new store in Los Angeles
• In April 2021, Fitbit declared Fitbit Luxe, a fashion-forward fitness and wellness tracker designed to help one take a more holistic approach towards health and wellness. The company made major technological advancements with Luxe, creating a smaller, slimmer, beautifully designed tracker packed with advanced features, some that were previously only available with smartwatches, making these tools accessible to even more people around the globe

Regional Analysis

Geographically, the countries covered in the market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

As per Data Bridge Market Research analysis:

North America is the dominant region in wearable devices in sports market during the forecast period 2022 to 2029

The majority of the market was in North America. Major market players, portable and comfortable usage, increased healthcare awareness, manufacturing costs, and technological advancements influence the North American market. These crucial elements have advocated for the use of wearable devices in sports in the region.

Asia-Pacific is estimated to be the fastest growing region in wearable devices in sports market the forecast period 2022 to 2029

Over the forecast period, Asia-Pacific is anticipated to grow at a profitable pace. Wearable devices, such as activity trackers, smartwatches, and bright clothing, are popular among customers due to their numerous benefits, portability, and maximum current and superior technological advancements.

COVID-19 Impact

The COVID-19 outbreak hurt the companies' sales. Lockdowns caused by the COVID-19 outbreak delayed people seeking medical attention, reducing the number of tests performed and reagent sales. However, as governments gradually relax travel restrictions, the number of people taking tests is increasing. Since the COVID-19 pandemic, dealing with infectious diseases has become a major medical concern all over the world. Aside from vaccines and therapeutic medications, there is a growing demand for more precise and simple testing technologies, as well as testing structure expansion. 

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