Market Research Report Search Engine (MRRSE) recently announced the addition of a new research study to its comprehensive collection of research reports. The research report, titled “Wearable Fitness Trackers Market: Wrist Wear Product Type Segment Expected to Remain Dominant over the Forecast Period: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2027)” offers a detailed analysis of the market, providing insights into the market dynamics that are expected to influence the overall market positively in the next few years. Furthermore, the product segmentation, drivers, barriers, key geographical segments, and the competitive scenario of the global Wearable Fitness Trackers market have been elaborated upon in the research report.
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Wrist wear segment is projected to be the most attractive in the global wearable fitness trackers market during the opportunity assessment period. The segment is estimated be valued more than US$ 14 Bn in 2017 and is expected to witness steady growth in terms of revenue throughout the projected period, representing a CAGR of 16.3% during the projected period. Leg wear segment is expected to register moderate Y-o-Y growth rate throughout the estimated period. In terms of value, this segment is expected to expand at a CAGR of 16.1% between 2017 and 2027.
Increasing number of online stores, usage of smart phones and rising use of wearable fitness trackers in healthcare sectors create new opportunities in the global wearable fitness trackers market
The increase in number of online stores across the globe will offer a new platform for wearable fitness trackers accessories vendors to approach customers. With an increasing demand of wearable fitness trackers, the vendors in the market are providing their trackers also in the form of online accessories. With an evolution in technology and digitalsation, everyone is moving toward online shopping and secured transactions. This advancement will provides huge opportunity for the vendors operating in the global wearable fitness trackers market in the near future.
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The prime factor responsible for the popularity of the wearable fitness trackers is that users can wear them 24*7 and can witness real time monitoring of the collected data that too on devices which can be carried anywhere and anytime.
The increasing usage of smartphones in the market is creating demand of wearable fitness trackers. In the present era, almost everyone use a smartphone. The applications in these smartphones offer an easy monitoring of the fitness trackers. Due to this advancement, the demand of wearable fitness trackers is also increasing since these trackers are easy to carry, user friendly, and compatible with most of the smartphones.
With the rapidly increasing health issues in all age groups, patients and doctors both are more focused on developing the medium through which doctors are able to monitor the health of the patients through devices. This is very prime opportunity for the manufacturers to develop new features in the wearable fitness trackers. Currently devices which can monitor the heart rate are available in the market but with increasing technological advancements, the manufacturers are now able to develop the devices to monitor the blood pressure fluctuations, and sugar level in the body. The direct syncing of such devices with the doctors reduces the health risks of the patients as the recorded data is stored and analysed by the doctors which can help in finding out the future risks such as heart attacks, and high blood sugar level.
With robust CAGR of more than 15%, the global wearable fitness trackers market is anticipated to increase 4X by volume between 2017 and 2027
Global wearable fitness trackers market is expected to be valued at more than US$ 21 Bn in 2017 and is anticipated to reach more than US$ 90 Bn by the end of 2027. The global wearable fitness trackers market is expected to register a CAGR of 15.8% during the forecast period.
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