Global Wearable Devices in Sports Market, By Component (Hardware and Software), Device type (Pedometers, Activity Monitors, Smart Fabrics, Sports & Running Computers, Fitness & Heart Rate Monitors, Others), Application (Consumer Electronics, Healthcare and Enterprise & Industrial Application), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Wearable devices in sports market is expected to grow USD 102.2 billion at CAGR of 15.98% in the forecast period of 2021 to 2028. Data Bridge Market Research report on wearable devices in sports market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth has been directly impacting the growth of wearable devices in sports market.
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 popularity about the benefit of these devices among professional athletes and recreational fitness consumers is a driving factor for the wearable devices in sports market. Increasing social awareness and various benefits of wearable electronics is also a driver for the wearable devices in sports market. Increasing disposable income and smartphone penetration is an opportunity for the wearable devices in sports market. A high degree of research and development by the market players is expected to enhance technology is an opportunity for the wearable devices in sports market.
Data privacy concerns are a challenge for the wearable devices in sports market. However, low battery life and high initial cost is the main restraint for the growth of wearable devices in sports market during the forecast period of 2021- 2028.
This wearable devices in sports market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on Data Bridge Market Research wearable devices in sports market contact us for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
In August 2020, Fitbit, Inc. announced Fitbit SenseTM, an excellent health smartwatch, inducing innovative sensor and software technology with the world’s first electrodermal activity (EDA) sensor on a smartwatch to manage stress, along with exceptional heart rate tracking technology, a new ECG app,2 and an on-wrist skin temperature sensor,4 all powered by 6+ days of battery life.5 paired with a free six-month trial of Fitbit PremiumTM,6 it can help to track key trends about health and wellbeing, such as heart rate variability (HRV), breathing rate, and SpO2 with the new Health Metrics dashboard. With this, the company has enhanced its offering to its customers.
Wearable Devices in Sports Market Scope and Market Size
Wearable devices in sports market is segmented on the basis of component, device type and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Wearable devices in sports market on the basis of component has been segmented as hardware and software.
- Based on device type, the wearable devices in sports market has been segmented into pedometers, activity monitors, smart fabrics, sports & running computers, fitness & heart rate monitors and others. Others are further segmented into cycling computers and pursuit monitors.
- Based on application, the wearable devices in sports market has been segmented into consumer electronics, healthcare and enterprise & industrial application.
Wearable Devices in Sports Market Country Level Analysis
Wearable devices in sports market is analysed and market size, volume information is provided by country, component, device type and application as referenced above.
The countries covered in the wearable devices in sports market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America will dominate the wearable devices in sports market due to major technological advancements across the globe. While Asia-Pacific will be expected to witness the highest growth rate due to growing purchasing power with the increasing tech-savvy population and the rising popularity of several companies in the region.
The country section of the wearable devices in sports market 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 like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Wearable Devices in Sports Market Share Analysis
Wearable devices in sports market competitive landscape provide details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to wearable devices in sports market.
The major players covered in the wearable devices in sports market report are Adidas AG, Nike Inc., Under Armor Inc., Apple Inc., Garmin Ltd., Zepp US Inc., Catapult Sports Pty Ltd, StretchSense Ltd., Misfit Inc., Alphabet Inc., Qualcomm Technologies, Inc., Sony Corporation, Jawbone Inc., Lifesense Group, Guangdong BBK Electronics Co., ltd., Xiomi Technology Co., Ltd., SAMSUNG, Huawei Device Co., Ltd., HTC Corporation, Xiaomi Global Community, Fitbit, Inc., Xiaomi Global Community among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Wearable Devices in Sports Market
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