Global Mobile Sensing Fitness Market Insights, Driving Factors, Growth Challenging Factors, External Threats, Recent Trends, and Forecast for Next 10 Years
Global mobile sensing fitness market is expected to be valued at US$ XX Mn in 2019 and is projected to reach a value of US$ XX Mn in 2028. The global mobile sensing fitness market report includes driving and restraining components, ongoing key trends and opportunities, PESTLE Analysis, and Porter’s Five Forces Analysis. In addition, the report covers region-wise and country-wise information, strategic mergers and acquisitions activities undertaken by major companies, etc. The global mobile sensing fitness market report has been segmented on the basis of product type, application, and region.
Mobile sensing fitness gadgets are primarily health and fitness devices used to measure various parameters such as heart rate, bio-impedance, muscle activity, and 3D motion sensing. These devices use enhanced connectivity solutions including Bluetooth smart, Bluetooth classic, ultra-low-power components, Wi-Fi, NFC, and BodyLAN, among others.
Drivers, Restraints, Opportunities, and Trends
Increasing prevalence of chronic diseases and disorders, coupled with rising need for regular updates on human health parameters to avoid health issues, and SOS alerts are some of the major factors expected to drive growth of the mobile sensing fitness devices market. In addition, time-consuming and high cost of routine health checkup, and hectic lifestyle and round-the-clock working hours has given rise to need for mobile or portable fitness gadgets. This is another major factor expected to result in higher demand for mobile sensing fitness gadgets and drive growth of the target market.
Growing spending capacity among individuals, coupled with growing production and sales of wearable fitness devices in developed and developing countries is expected to support growth of the global mobile sensing fitness market. Increasing health consciousness among individuals where multi-function fitness applications are gaining popularity to create a healthy competition amongst its users through functionalities such as sharing the workout results on social networking websites and progress dashboards are factors expected to propel the global market growth.
However, high maintenance & service costs and interoperability issues are major factors that could restrain growth of the target market. In addition, lack of standardization of health and fitness devices and unregulated usage of fitness devices could hamper growth of the global mobile sensing fitness market.
One of the key trends observed in the global market is that the companies are focusing on manufacturing multi-function gadgets with new features such as alerts, smartphone connectivity, and notifications. This is a result of high demand from customers for these devices and is expected to support growth of the target market.
Another macro trend observed is that the market players are focusing on selling their products online in order to increase sales and revenue. This trend is expected to gain substantial traction and support growth of the target market.
Technological advancements such as development of multi-parameter monitoring devices and focus on strategic mergers and acquisitions are factors projected to create revenue growth opportunities for manufacturers operating in the global market.
By Product Type:
Among the product type segments, the smartwatches segment is anticipated to grow at a significant rate over the next few years. This can be attributable to increasing focus of manufacturers on development and launch of new applications such as hand-wear, wristbands, and fitness belts resulting in higher demand for smartwatches in the years to come.
The North America market is expected to account for major revenue share and is foreseen to continue with its dominance in the global mobile sensing fitness market over the forecast period, owing to higher adoption rate of enhanced high-tech fitness gadgets by individuals in countries in the region. Moreover, the North America market is expected to register considerable growth rate in the next 10 years, owing to increasing focus of individuals on prevention from diseases and adoption of advanced health care facilities, coupled with high cost of healthcare services in the region.
The Asia Pacific mobile sensing fitness market is estimated to register substantial growth rate over the forecast period, owing to increasing disposable income, coupled with growing awareness regarding benefits of these devices among individuals in countries in the region. Markets in Japan, China, India, and South Korea are expected to contribute comparatively higher revenue share in the Asia Pacific market, owing to presence of large number of mobile sensing fitness manufacturers, increasing adoption of healthcare devices.
Global Mobile Sensing Fitness Market: Segmentation
Segmentation by Product Type:
- Activity Trackers
- Smart Watches
- Heart Rate Monitors
- Other (Includes Performance Monitors)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
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