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| Global Smart Fitness Market Size |
Smart fitness devices have become emerging tools to measure personal health
parameters and provide real-time fitness guidance. These devices monitor
metrics such as heart rate, calorie consumption, quality of sleep and others to
enable more effective exercise regimens and lifestyle control. With the
prevalence of chronic diseases like diabetes, cardiovascular disorders and
obesity on the rise, there is increased awareness towards fitness management.
The global
Smart Fitness Market is estimated to be valued at US$ 18979.05 Mn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
The increasing prevalence of chronic diseases has primarily accelerated the
adoption of smart fitness devices. As per estimates by the WHO, chronic
diseases accounted for around 60% of the total reported deaths in 2020.
Moreover, obesity rates have doubled since 1980, with over 650 million adults
now considered obese globally. Smart wearables help regulate lifestyle factors
that contribute to such diseases. Continuous monitoring of vitals aids early
detection and pre-emptive action. Data-driven exercise routines and dietary
plans support weight loss and management of disorders. The ability of smart
trackers to sync health metrics with smartphone apps further enhances
monitoring convenience. This has spurred their uptake in both consumer and
clinical segments over the recent past.
Segment Analysis
The global smart fitness market is dominated by smart watches and wearable
fitness trackers sub-segment. These devices account for more than 40% share of
the overall market. Rising health awareness among people and growing preference
for tracking fitness activities easily has boosted the adoption of smart
watches and fitness trackers globally. The devices offer convenient monitoring
of steps, calories burned, heart rate and other health metrics in real-time.
Key Takeaways
Global
Smart Fitness Market Size is
expected to witness high growth driven by growing health consciousness among
people and increasing use of IoT based devices for monitoring fitness
activities. The global Smart Fitness Market is estimated to be valued at US$ 18979.05 Mn in 2023 and is expected
to exhibit a CAGR of 6.1% over the
forecast period 2023 to 2030.
Regional analysis: North America currently leads the global smart fitness
market with over 30% share. Early adoption of new technologies and growing
investments in Digital Health by major players in the US and Canada has fueled
smart fitness devices demand in the region. However, Asia Pacific is emerging
as the fastest growing regional market attributed to rising health awareness,
improving living standards and proliferating use of smartphones in countries
like China, India and Japan.
Key players: Key players operating in the global smart fitness market are
Celsius Design Limited, Delta Cooling Towers Inc., CFW Evapcool, Condair Group
AG, ENEXIO Water Technologies GmbH, SPX Cooling Technologies, Bonaire,
Baltimore Aircoil Company Inc., Phoenix Manufacturing Inc., Munters Group AB.
These leading companies are focusing on new product launches and partnerships
with regional players to strengthen their presence globally.
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