Wise fitness equipment are utilized for actual physical workouts that help in managing general weight, boost physical stamina, and build muscular strength. These devices are utilized to track information like sleep, steps, calories, heart rate, along with various other bodily status, which further help in increasing the actual physical fitness of the body.
Rising recognition among people related to health and fitness is one of the major driving factors for expansion of the global smart fitness industry. The factor attributed to expansion of the market is soaring medical issues such as obesity, diabetics, heart attack, which further increases need for physical fitness equipment.
For instance, in 2013, according to the Institute for Health Metrics as well as Evaluation analysis, nearly thirty % of the world population was suffering from unhealthy weight gain or perhaps obese, internationally. Furthermore, based on the diabetics.org, does alpilean work review (web) the total number of individuals in the U.S. struggling from diabetic patients was 7.2 million in 2014, and in 2015, 1.5 million new cases have been reported which was 6.7 % per 1,000 people. So, increasing awareness among men and women will proportionally demand for that fitness equipment, which will allow them to track health connected information such as heart rate, amount of calories burned and workout time. This is anticipated to further make it possible to improve the general fitness of theirs of the human body, in turn aiding in expansion of the worldwide smart fitness market.
Moreover, growing government initiative programs in connection with health awareness is another component propelling advancement of the market. As an 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 objective of this strategy is to promote as well as protect overall health by guiding at every person, community, national, and worldwide level such that it helps in reducing disease as well as death rates related to unhealthy diet and physical inactivity.
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High price of wise fitness equipment is significant factor that limits growth of the market. This pushed start up gyms & fitness centres and in-house users to purchase second-hand equipment. So, high prices of these equipment is a major factor hampering purchase of equipment which is new for commercial purposes. This’s anticipated to negatively affect sales of new smart fitness equipment.
Worldwide Smart Fitness Market: Segment Trends
On the foundation of product type, the smart watch segment accounted for the biggest market share in 2017 and is expected to retain its role during the forecasted time. This is owing to increased demand for wireless health monitoring devices. For example, in accordance with the Coherent Market Insights’ analysis, the entire product of smart watches product sales in 2016 was US$36 million and this improved to US$seventy six million in 2017, internationally. These bright watches handle multiple capabilities like real time pulse rate monitoring, health monitoring, tracking footsteps, tracking number of calories burnt, general rest statistics, tracking exercise instruction, and tracking of user’s day regime to offer valuable insights on the health of theirs. This further assists doctor to identify their patient’s health remotely. This’s likely to aid in development of the segment over the forecast period.
Worldwide Smart Fitness Market: Regional Insights
North America held a dominating position in the global smart health market place in 2017, and it is expected to retain the dominance of its throughout the forecast period (2018-2026). This growth is due to increasing number ofhealth problem regarding unhealthy weight such as cardiovascular disease, type two diabetes, and others, which specifically impacts adults, youth, and children. For instance, based on the National Centre for Health’s analysis, in 2017, in the U.S. 40 % of adults and nineteen % of youths have been suffering from being overweight. So, growing concern among people today concerning health related concerns is leading to increasing demand for fitness equipment, to be able to handle their fitness. Hence, each one of these factors will help in propelling growth of the smart fitness market in this particular region.
Global Smart Fitness Market: Competitive Landscape
Major players operating in the worldwide wise fitness 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., Fitbit Inc., Samsung, and others are concentrating on adopting mergers as well as acquisitions strategy, in order to strengthen their foothold in the market. For example, in February 2018, Fitbit, Inc. acquired the Twine Health. The objective of the acquisition is increasing their offerings in the healthcare sector, which more helped the organization to obtain a competitive edge in the marketplace.