Wise fitness equipment are used for physical exercises that really help in managing overall weight, boost physical endurance, and develop muscular strength. These products are utilized to track info like sleep, steps, calories, pulse rate, along with various other physical condition, which more assist in enhancing the actual fitness of the body.
Rising awareness among individuals associated with health and fitness is one of the major driving elements for development of the global wise fitness industry. The aspect attributed to growth of the industry is rising health issues including obesity, heart attack, diabetics, which further increases need for physical fitness equipment.
For instance, in 2013, according to the Institute for Health Metrics and Evaluation analysis, nearly thirty % of the world public was suffering from obesity or overweight, globally. Furthermore, in accordance with the diabetics.org, the total number of people in the U.S. suffering from diabetes patients was 7.2 million in 2014, and also in 2015, 1.5 million new cases were reported which was 6.7 % per 1,000 people. So, increasing awareness among folks will proportionally demand for such fitness equipment, that will allow them to monitor health connected information such as heart rate, amount of calories burned and exercise time. This's expected to further assist to improve the overall fitness of theirs of the body, in turn aiding in growth of the global wise fitness market.
Furthermore, growing federal initiative programs in connection with health awareness is another factor propelling progress of the market. For instance, in May 2004, in the 57th World Health Assembly (WHA) endorsed the World Health Organization's (WHO), Global Strategy on Diet, Physical activity, and Health. The aim of this approach is promoting and protect health and wellbeing by guiding at each individual, community, national, and global level such that it can help in reducing disease and death rates related to physical inactivity and unhealthy diet.
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High price of smart fitness equipment is major component that limits growth of the marketplace. This pushed start up gyms & fitness centres and in-house users to get second hand equipment. Therefore, high prices of these machines is a big factor hampering purchase of new equipment for commercial purposes. This is expected to negatively affect sales of new smart fitness gear.
Worldwide Smart Fitness Market: Segment Trends
On the basis of item type, the smart watch segment accounted for the largest market share in 2017 and is anticipated to retain its position throughout the forecasted time. This is owing to demand that is increased for wireless health monitoring units. For example, in accordance with the Coherent Market Insights' studies, the total device of smart watches product sales in 2016 was US$36 million and this improved to US$seventy six million in 2017, globally. These smart watches handle multiple capabilities including real-time pulse rate monitoring, health monitoring, tracking footsteps, tracking number of calories burnt, overall rest statistics, tracking exercise training, and tracking of user's daily routine to give useful insights on their health. This further helps health care provider to identify their patient's health remotely. This's likely to aid in progress of the segment with the forecast period.
Worldwide Smart Fitness Market: Regional Insights
North America held a dominant position in the worldwide wise fitness market place in 2017, and it is expected to retain its dominance throughout the forecast period (2018-2026). This growth is attributed how to lose weight fast increasing number ofhealth problem related to weight problems for instance cardiovascular conditions, type two diabetes, as well as others, which directly affects children, youth, and adults. For example, according to the National Centre for Health's analysis, in 2017, in the U.S. 40 % of adults and nineteen % of youths were suffering from obesity. So, growing concern among people about health associated concerns is leading to increasing need for fitness equipment, in order to manage the fitness of theirs. Hence, each one of these factors are going to help in propelling progress of the intelligent fitness market in this kind of region.
Worldwide 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., 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 instance, in February 2018, Fitbit, Inc. acquired the Twine Health. The target of the acquisition is to increase their offerings in the healthcare sector, which further helped the company to gain a competitive advantage in the market.
