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The Smart Weight, Body Composition, and Body-Mass Index (BMI) Scales Market size is forecast to increase by USD 108.54 million, at a CAGR of 5.22% between 2023 and 2028. The growth of the market depends on several factors such as the rising health consciousness among people, the increased awareness of obesity, and then growing adoption of smart health devices.
The research report of the Smart Weight, Body Composition, And BMI Scales Market offers industry forecasts and segmentation based on Distribution Channel which include offline and online. It also segments the market by Price which comprises less than USD100 and more than USD100. Geographically, the report covers North America, Europe, APAC, South America, and Middle East and Africa. The market size, historical data for 2018 - 2022, and future forecasts are presented in terms of value (in USD million) for all these mentioned segments.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic market trends and analysis, along with drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing adoption of smart health devices is notably driving the market growth. Technological advances and product innovations have helped key marketers in launching high-utility smart health-tracking devices. The adoption of smart weight, body composition, and BMI scales is high among multiple user segments, such as fitness enthusiasts, athletes, and others. The use of such devices prevents chronic health conditions as they help in the timely tracking and monitoring of health conditions. The demand for smart weight, body composition, and BMI scales market is high in developed markets such as North America and Western Europe.
Moreover, smart weight, body composition, and BMI scales are coupled with smartphones and tablets that enable users to monitor their fitness activity and receive calendar updates for their fitness regimes. Hence, the popularity of these fitness devices across the globe will fuel the demand for global smart weight, body composition, and BMI scales during the forecast period.
Increased innovative features such as pregnancy mode are an emerging trend shaping the market growth. Continuous product innovations have facilitated the launch of smart weight, body composition, and BMI scales with advanced pregnancy-mode features. Such features provide an efficient track of the expectant mother's health parameters and provide information about the progress of a pregnancy.
For instance, Qardio launched QardioBase, which helps expectant mothers track their progress and maintain a visual directory of each measurement. The inclusion of advanced features in smart body weight scales will fuel the demand for global smart weight, body composition, and BMI scales market during the forecast period.
Low penetration in developing countries is a significant challenge hindering market growth. The penetration of smart scales is low in developing countries such as India, Singapore, China, Indonesia, and the Philippines. This is due to the lack of awareness about the benefits associated with product benefits. The high average selling price (USD 100- USD 700) of smart weight, body composition, and BMI scales market has contributed to their limited penetration in developing economies. The percentage of middle-income customer segments and fitness-related awareness is limited in such countries. In comparison to developed economies, users in developing nations are supposed to pay heavily for data.
However, the need for constant connectivity with smartphones and high usage of data to utilize such devices contributes to restrained product adoption. Another key factor that will limit the market growth analysis of the smart weight, body composition, and body-mass index (BMI) scales market. Such factors are expected to restrict the market growth during the market forecast period.
The market research report includes the adoption lifecycle of the market growth and trends analysis, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market analysis and report also include key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market research and growth strategies.
Global Smart Weight, Body Composition, and BMI Scales Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Actofit Wearables - The company offers smart weight, body composition and BMI scales such as Smart scale Pro Max, Actofit Smart Scale PRIME and Smartscale Pro that help to track weight, body composition, and progress toward health goals.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The offline segment is estimated to witness significant growth during the forecast period. The offline distribution channel segment in the smart weight, body composition, and BMI scales market has witnessed significant growth in recent years and one of the significant segments in the distribution channel of these smart scales is the offline channel. Offline distribution channels refer to the traditional brick-and-mortar retail stores where consumers can physically purchase the products.
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The offline was the largest segment and was valued at USD 192.49 million in 2018. Moreover, offline distribution channels enable manufacturers to forge partnerships with retailers and establish a strong network across different geographies. However, offline distribution channels also face challenges. With the changing retail landscape and the increasing prevalence of online shopping, physical stores need to adapt and provide unique experiences to attract customers. Additionally, maintaining inventory levels and managing shelf space can be demanding for both manufacturers and retailers. Thus, the increased benefit and easy availability of smart weight, body composition, and BMI scales from offline stores will drive the growth of the offline distribution segment during the market growth and forecasting period.
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North America is estimated to contribute 37% to the growth of the global market during the market forecasting period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Technological advances, enhanced purchasing power, and product enhancements drive the growth of the market in the North Americas. Lifestyle evolutions (owing to an increase in purchasing power) contribute to an increased preference for fitness activities and enhanced participation in sports. The market exhibits a high demand for new, smart technologies. The Americas witnessed significant participation in basketball, rugby, lacrosse, racing, and football.
In addition, the fitness consciousness of the region is reinforced by the organization of multiple marathons in North American countries such as the US and Canada. Such events include the Boston Marathon, the Chicago Marathon, and the New York City Marathon. This, in turn, contributes to the growth of the global smart weight, body composition, and BMI scales market in the North America during the forecast period.
The smart weight, body composition, and BMI scales market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Smart Weight, Body Composition, And BMI Scales Market Scope |
|
Report Coverage |
Details |
Page number |
157 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.22% |
Market Growth 2024-2028 |
USD 108.54 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.78 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 37% |
Key countries |
US, Canada, China, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Actofit Wearables, Anker Technology UK Ltd., beatxp, Blipcare, Fitbit LLC, Garmin Ltd., iHealth Labs Inc., Koogeek Inc., PICOOC Technology Co Ltd., Polar Electro Oy, Pyle USA Sound Around Inc, Qardio Inc., Tanita Corp., Vandelay Brands Ltd., Wahoo Fitness LLC, Withings France SA, Wyze Labs Inc., Xiaomi Communications Co. Ltd., Huawei Technologies Co. Ltd., and Nureca Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Price
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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