Asia-Pacific Wearable Devices in Sports Market, By Component (Hardware, Software), Product Type (Pedometers, Fitness & Heart Rate Monitors, Smart Fabrics, Smart Camera, Shot Trackers & Others), Site (Headband, Handheld, Arm & Wrist, Clip, Shoe Sensor, Others), Application (Step Counts, Calorie Burnt, Heart Rate Monitoring, Sleep Tracking, Others), End User (Sports Centers, Fitness Centers, Homecare Settings, Others), Distribution Channel (Independent Retail Store, Hypermarket/Supermarket, Brand Store, Online Sale Channel), Country (Japan, China, Australia, India, South Korea, Singapore, Indonesia, Thailand, Malaysia, Philippines, Rest of Asia-Pacific) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Asia-Pacific Wearable Devices in Sports Market
Asia-Pacific wearable devices in sports market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 19.6% in the forecast period of 2021 to 2028 and is expected to reach USD 9,554.26 million by 2028. Presence of major market players and rising social awareness are the major drivers which propelled the demand of the market in the forecast period.
Wearable devices in sports are a mixture of various products, which are designed to provide assistance and help to users. These Wearable devices are developed and designed to assist the sports man using technology. These Wearable devices use technology such as IoT, Bluetooth, and Wi-Fi to provide information of the overall performance of an individual person. They help the sports person to measure their health parameters such as heart beat, stamina others. These wearable devices come with GPS tracker and records information on the user’s pace, heart rate, step count, calorie burnt and others. These devices maintain the physical activity of the user training and prevent the over training. These devices also keep the track of sleeping schedule and training routine.
The wearable device is often used to track a person’s vital signs of data that are related to location, health and fitness or even one’s biofeedback indicating emotion. Although it has some issues like privacy and the extent to which they may affect the way of social interaction and how the person looks wearing them and the issues with user-friendliness, it is being used by millions of users worldwide from smartwatches to fitness trackers, ring and bracelets, even smart glasses. Increasing disposable income and smartphone penetration is an opportunity for the wearable devices in sports market. However, low battery life and high initial cost are factors expected to restraint the market growth in the forecast period.
The wearable devices in sports market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an analyst brief, our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Wearable Devices in Sports Market Scope and Market Size
Wearable devices in sports market is segmented on the basis of component, product type, site, application, end user and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the Asia-Pacific wearable devices in sports market are segmented into hardware and software. In 2021, the software segment is dominating the Asia-Pacific wearable devices in sports market due to increasing popularity among professional athletes and increasing smartphone penetration are predicted to dominate the market.
- On the basis of product type, the Asia-Pacific wearable devices in sports market is segmented into pedometers, fitness & heart rate monitors, smart fabrics, smart camera, shot tracker, others. In 2021, Pedometers is dominating the Asia-Pacific wearable devices in sports market due to benefits of wearable electronics are predicted to dominate the market.
- On the basis of site, the Asia-Pacific wearable devices in sports market is segmented into headband, handheld, arm & wrist, clip, shoe sensor, others. In 2021, the handheld, arm and wrist segment is dominating the Asia-Pacific wearable devices in sports market due to presence of major market players are predicted to dominate the market.
- On the basis of application, the Asia-Pacific wearable devices in sports market is segmented into step counts, calorie burnt, heart rate monitoring, sleep tracking, others. In 2021, the step counts segment is dominating the Asia-Pacific wearable devices in sports market due to rising healthcare expenditure and disposable income are predicted to dominate the market.
- On the basis of end user, the Asia-Pacific wearable devices in sports market is segmented into sports centers, fitness centers, homecare settings, others. In 2021, the sports centers segment is dominating the Asia-Pacific wearable devices in sports market due to multi-featured and hybrid application mobile devices are predicted to dominate the market.
- On the basis of distribution channel, the Asia-Pacific wearable devices in sports market are segmented into independent retail store, hypermarket/supermarket, brand store, and online sale channel. In 2021, independent retail store segment is dominating the Asia-Pacific wearable devices in sports market due to emerging markets and multiple application coverage are predicted to dominate the market.
Wearable Devices in Sports Market Country Level Analysis
Wearable devices in sports market is segmented on the basis of component, product type, site, application, end user and distribution channel.
The countries covered in the wearable devices in sports market report are the Japan, China, India, Australia, South Korea, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific.
China is expected to dominate the Asia-Pacific because of new product launches and approvals in the country.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Benefits of Wearable Electronics and Increasing Smartphone Penetration Are Boosting The Market Growth Of Wearable Devices In Sports.
Wearable devices in sports market also provides you with detailed market analysis for every country growth in wearable devices in sports products industry with drugs sales, impact of advancement, technology and changes in regulatory scenarios with their support for the wearable devices in sports market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Wearable Devices in Sports Market Share Analysis
A wearable device in sports market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to wearable devices in sports market.
The major companies operating in the wearable devices in sports are Nike, Inc., Under Armour, Inc., Fitbit Inc. (A Subsidiary of Google LLC), Apple Inc., Garmin Ltd., Koninklijke Philips N.V., Zepp Health Corporation, StretchSense a Sensor Holdings Limited company, Huawei Device Co., Ltd., Catapult, Withings, Guangdong Transtek Medical Electronics Co., Ltd, SAMSUNG, Hocoma, Masimo, Abbott, Medtronic, Bio-Beat, Halo Neuroscience, SIGMA SPORT, TomTom International BV., Carre Technologies Inc. (Hexoskin), Activinsights Ltd., Omron Corporation, Sotera Wireless, Inc., Polar Electro, Sensoria, GN Store Nord A/S, IMeasureU Ltd, Hykso and among others.
Many product launch and agreement are also initiated by the companies’ worldwide which are also accelerating the wearable devices in sports market.
For instance,
- In June 2021, Huawei Technology Co., Ltd has announced that they were launching a series of 5G products and solutions-oriented to "1+N" 5G target network in Barcelona. These products and solutions will help to promote multi-antenna technology to all bands in Europe.
- In January 2021, Zepp Health Corporation announced that they had entered into a definitive agreement to acquire a Minority Stake in Jiangsu Yitong High-Tech Co., Ltd. This will help the company to expand the healthcare ecosystem for the Chinese market.
- In June 2021, for celebrating the powerful drive and sportsman spirit of all the players and supporters, Apple Inc. launched an International Collection Bands for Apple Watch, which features 22 limited- edition Sport Loop Bands having multi-colored designs which represent various countries globally. In addition, consumers can download any watch face from site apple.com and even use Face Sharing for sharing the same with another user of Apple watch.
Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market player is enhancing the company market in the wearable devices in sports market which also provides the benefit for organization to improve their offering for wearable devices in sports.
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