Global Smart Wearable Fitness and Sports Devices and Services Market 2016-2020

This market research report analyzes the key players in the global smart wearable fitness and sports devices and services market and some of these vendors are Adidas, Apple, Fitbit, Garmin, Jawbone, Nike, Samsung, Sony, AT&T, EE, Sprint, and Telefonica. A comprehensive study of this market is also presented by application (smart wearable sports devices and smart wearable fitness devices) and by geography (APAC and ROW, North America, and Western Europe).

Overview of the smart wearable fitness and sports devices and services market

By 2020, the global smart wearable fitness and sports devices and services market will grow at a CAGR of over 25% and 38%, respectively. One of the primary drivers propelling the growth prospects for this market is the growing popularity of fitness wearables among consumers. Rapid innovations in technology have increased the demand for fitness devices with modern features, which help avoid obesity and heart congestion. These devices act as fitness trackers, allowing consumers to keep a check on their regular fitness regime. In developed regions like North America and Western Europe, the demand for smart watches, fitness bands, gear fit, and smart glasses have increased over the years due to the low cost of these products. The consumers synchronize these fitness devices with their smartphones and tablets to monitor sleep patterns and receive calendar alerts about their exercise and fitness activities.

A significant trend spurring the growth prospects for this market is the increasing use of wearable devices in sports analytics to improve the performance of the sportsperson. The fitness and sports wearables comprise tracking devices, sensors, and software application. The technology and software used in smart wearable devices help in making critical decisions in games like football, tennis, and basketball. These smart activity trackers monitor speed, distance covered, and breathing and heart rates of the players. In addition, these devices can be used to track the fitness and performance activities of on-field players. For instance, miCoach by Adidas helps in tracking the kick speed, spin, and flight path in football. It also offers real-time statistics, such as speed, heart rate, and acceleration of each and every player.

Competitive landscape and key vendors

Competition in the global smart wearable fitness and sports devices and services market is intense with the presence of many global and local players. The level of competition will strengthen during the forecast period as vendors are using advanced marketing strategies to sell their products.  To survive and succeed in this competitive market, several telecommunications operators like AT&T are integrating with wearable device manufacturers to provide innovative products at competitive prices to expand their market base.

Key vendors in the market are -

• Adidas
• Apple
• Fitbit
• Garmin
• Jawbone
• Nike
• Samsung
• Sony
• AT&T
• EE
• Sprint
• Telefonica

The other prominent vendors in the market are 270 Vision, 4iiii Innovations, Agent, BIA Sport, Bragi, BTS Bioengineering, Buhel, Carre Technologies, Cool Shirt Systems, Dreamtrap Commercials, Epson America, Finis, Free Wavz, Geopalz, Gesture Logic, Glofaster, Jaybird, Ki Life Solutions, Microsoft, Mio, Moticon, Mushroom Labs, Myontec, Notch, O-Synce, Polar, Push Design Solutions, Qardio, Sentimoto, Shot Tracker, Suunto Ambit, Sync, Tlink, Wearit, Weartrons Labs, Wellograph, Xensr, and Xybermind.

Segmentation by application and the smart wearable fitness and sports devices market analysis

• Smart wearable sports devices
• Smart wearable fitness devices

According to this market study, smart wearable fitness devices was the largest segment of the market in 2015, accounting for a market share of approximately 90%. This segment is likely to experience growth during the forecast period due to the increasing inclination of users towards fitness devices. These devices allow users to monitor daily fitness activities and performance and helps avoid several health issues.

Geographical segmentation and the smart wearable fitness and sports services market analysis

• APAC and ROW
• North America
• Western Europe

In terms of geography, North America dominated the smart wearable fitness and sports services market and accounted for approximately 64% of the total market share during 2015. One of the major factors propelling the growth prospects for this market in North America is the decline in the ASP of wearable devices. The key revenue contributor in this region is the US, which leads the market due to the early adoption of fitness and sports devices among adults and youth and the high income of the users in this region.

Key questions answered in the report include

• What will the smart wearable fitness and sports devices and services market size and growth rate be in 2020?
• What are the key factors driving the global smart wearable fitness and sports devices and services market?
• What are the key market trends impacting the growth of the global smart wearable fitness and sports devices and services market?
• What are the challenges to market growth?
• Who are the key vendors in the global smart wearable fitness and sports devices and services market?
• What are the market opportunities and threats faced by the vendors in the global smart wearable fitness and sports devices and services market?
• Trending factors influencing the smart wearable fitness and sports devices and services market shares of APAC and ROW, North America, and Western Europe.
• What are the key outcomes of the five forces analysis of the global smart wearable fitness and sports devices and services market?

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A smart wearable device is a tracking device that is either worn or attached to the user's body. This smart wearable is portable and performs similar functions to that of smart electronic devices like smartphones and tablets. This fitness tracking device carries out a variety of functions including real-time fitness monitoring, heart-rate monitoring, sleep statistics, keeping a count of the amount of calories burnt, exercise training, and maintaining a track of the user’s daily activities to provide valuable health insights. It is used in various sports such as golf, football, basketball, tennis, and skiing and snowboarding.

The report, global smart wearable fitness and sports devices and services market is part of Technavio’s ICT research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as automatic identification system, cloud computing, data center, enterprise application, IT security, ITO and BPO, and product lifecycle management. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.