Wise fitness accessories are utilized for actual physical exercises that really help in managing general weight, improve actual physical stamina, as well as build muscular strength. These products are utilized to track information such as sleep, steps, calories, heart rate, and other physical health, which further assist in improving the overall physical fitness of the body.
Rising recognition among individuals related to health and fitness is one of the major driving factors for expansion of the global wise health industry. The point attributed to progress of the market is rising medical issues just like obesity, diabetics, heart attack, which further increases demand for physical fitness equipment.
As an example, in 2013, in accordance with the Institute for Health Metrics as well as Evaluation analysis, nearly 30 % of the world population was suffering from unhealthy weight gain or even obese, globally. Furthermore, according to the diabetics.org, the total amount of folks in the U.S. struggling from diabetic patients was 7.2 million in 2014, and in 2015, 1.5 million new cases were reported which was 6.7 % per 1,000 persons. Therefore, increasing awareness among people will proportionally demand for such fitness equipment, which will allow them to track health related information like heart rate, amount of calories burned and exercise time. This’s expected to further help to enhance their overall fitness of the body, subsequently aiding in expansion of the global smart fitness market.
Moreover, growing federal initiative diets in connection with health awareness is yet another aspect propelling progress of the market. For example, in May 2004, in the 57th World Health Assembly (WHA) endorsed the World Health Organization’s (WHO), Global Strategy on Diet, Exercise, and Health. The target of this approach is to promote and protect health by guiding at each individual, national, community, and global level such that it helps in reducing disease as well as death rates related to physical inactivity and unhealthy diet.
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High price of smart fitness equipment is significant component that limits growth of the marketplace. This pushed start-up gyms & in-house users and fitness centres to get second-hand equipment. Therefore, high prices of these gear is a major factor hampering purchase of equipment which is new for commercial purposes. This is expected to negatively affect sales of new wise fitness equipment.
Worldwide Smart Fitness Market: Segment Trends
On the foundation of merchandise type, the smart watch segment accounted for the biggest market share in 2017 and it is likely to maintain its position throughout the forecasted period. This is owing fastest way to lose fat belly [www.timesofisrael.com] increased demand for wireless health monitoring units. For instance, according to the Coherent Market Insights’ analysis, the total product of smart watches sales in 2016 was US$thirty six million which increased to US$76 million in 2017, globally. These bright watches handle several functions like real-time heart rate monitoring, fitness monitoring, tracking footsteps, tracking number of calories burnt, general rest statistics, tracking exercise instruction, and tracking of user’s day regime to offer useful insights on their health. This further helps health care provider to identify their patient’s overall health remotely. This is likely to aid in progress of the segment with the forecast period.
Global Smart Fitness Market: Regional Insights
North America held a dominating position in the global smart fitness market place in 2017, and is anticipated to maintain the dominance of its through the entire forecast period (2018-2026). This development is caused by increasing number ofhealth problem in connection with being overweight as cardiovascular disorders, type 2 diabetes, and also others, which specifically affects adults, youth, and children. For example, based on the National Centre for Health’s studies, in 2017, in the U.S. 40 % of adults and 19 % of youths have been suffering from being overweight. Thus, growing concern among people today about health related concerns is leading to increasing demand for fitness equipment, to be able to manage their fitness. Hence, each one of these factors will help in propelling growth of the smart fitness market in this specific region.
Global Smart Fitness Market: Competitive Landscape
Major players operating in the global wise health industry are Apple Inc., Fitbit Inc., Garmin Ltd., Jawbone, LG Electronics, MAD Apparel, Inc., Samsung Electronics Co., Ltd., Sony Mobile Communications Inc., Polar Electro, and OMsignal. Major players in the market such as Apple Inc., Others, Samsung, and Fitbit Inc. are concentrating on adopting mergers as well as acquisitions strategy, in order to strengthen the foothold of theirs in the market. As an example, in February 2018, Fitbit, Inc. acquired the Twine Health. The target of the acquisition is increasing their offerings in the healthcare industry, which more helped the organization to gain a competitive edge in the marketplace.
