Wearable Tracking Devices Market Share, Insights and Growth Analysis by Types (Wrist Wear, Fitness Bands, Foot Wear), Application (Healthcare, Consumer Electronics), Sales Channel (Online, And Offline), End-User (Sports Person, Patients) - Forecast Till 2030

Wearable Tracking Devices Market Overview:

The Wearable Tracking Devices Market is projected to reach USD 17702.82 Million by 2030 at 11.20% CAGR during the forecast period 2022-2030.

Some of the most well-known wearable technology advancements include the incorporation of tiny sensors into textiles, the ability of intelligent watches to connect with social media, in-store marketing, and the simplicity of payment using wearables. The introduction of smartwatches has transformed timepieces, allowing them to do several tasks. Due to technological improvements, people will soon choose smartwatches over their analogue predecessors. Companies that make wearable technology make significant research and development investments to provide the best solutions and expand their market share. The wearable technology market is anticipated to be driven by technical features and development growth during the projected period.

The arrival of significant companies, portable and easy usage, a rise in healthcare awareness, and technical improvements have influenced the wearable technology industry. These critical aspects have accelerated the adoption of wearable technology across several sectors, including healthcare, defence, entertainment, businesses, and other industries. Customers favour wearable gadgets like smart watches, activity trackers, and intelligent clothes because of their many advantages, such as portability and access to the newest technical breakthroughs.

Users of wearable technology can get health-related material on their smart wearable. People choose wearable devices to check their health and fitness statistics because obesity has become a severe problem in many areas. Increased adoption across several industries has an impact on wearables applications. Additionally, the growth of the wearable technology market is supported by technical developments in software and hardware, as well as their expanded use in fitness, healthcare, and the military. However, the wearable technology business is hampered by wearables' short battery life and security worries.

Segmentation

The wearable tracking devices market is segmented on the basis of types, application, sales channel, and end-user. The wearable tracking devices market, by type, is segmented into Wristwear, Footwear and other. The wristwear segment includes Fitness Bands and Smartwatch. The Application segment is segmented into Healthcare, Consumer electronics, and others.  Sales Channel segment consists of online and offline. On the basis of end-user, the market is categorized into Sportsperson, Patients, and Others. On the basis of region, the wearable tracking devices Market is segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa.

The Americas is sub-segmented into North America and South America. The North American region is further segmented into the US and Canada. The European region is divided into two, namely, Western Europe and Eastern Europe. Western Europe is further classified into Germany, Italy, France, the UK, Spain, and the rest of Western Europe. The Asia Pacific region is sub-segmented into Japan, China, India, Australia, the Republic of Korea, and the rest of Asia Pacific. The Middle Eastern and African region is sub-segmented into the United Arab Emirates, Saudi Arabia, Oman, Kuwait, Qatar, and the rest of the Middle East and Africa.

Key players

Some of the key players for the wearable tracking devices Market are Adidas (Germany), Gramin Ltd (Switzerland),  Apple Inc (US), Pebble Technology Corp (US), Samsung Electronics Co Ltd (South Korea), Sony (Japan), Fitbit, Inc. (US), Google Inc. (US), Xiaomi Technology Co., Ltd. (China), Jawbone (US), Nike (US).

Regional Market Summary

Wearable Tracking Devices Market Share (%), by Region, 2017

The wearable tracking devices market is dominated by North America owing to rising cardiovascular diseases in this region. According to the CDC in 2015, 366,000 people died due to heart disease.

 The presence of major market players such as Apple, Nike, and Jawbone in this region also influences the market growth.

It is estimated that Europe stood second in the wearable tracking devices market. The rising obesity in this region is driving the growth of the market. In the EU, 51.6 percent of people are overweight. Thus, this enhances the wearable tracking devices Market in this region.

The Asia Pacific will witness growth for the wearable tracking devices market owing to the trend of wearable fitness tracking device among the young generation. China, India, and Japan are key market players in this region and is expected to be the largest market for the wearable tracking devices. India has 60% of the young population below 35 years. Thus, this provides favorable backgrounds for the market to grow.

The Middle East and Africa holds the least share in the wearable tracking devices Market due to the presence of stringent government policies and poor economies.

Research Methodology

Market Research Future research is conducted by industry experts who offer insights into industry structure, market segmentation, assessment, Competitive Landscape (CL), penetration, as well as on emerging trends. Besides primary interviews (~ 80%) and secondary research (~ 20%), their analysis is based on their years of professional expertise in respective industries. Our analysts also predict where the market will be headed in the next five to ten years, by analyzing historical trends and current market positions. Furthermore, the varying trends of segments and categories geographically presented are studied and are estimated based on the primary and secondary research.

• Primary Research

Extensive primary research was conducted to gain a deeper insight into the market and the industry performance. In this particular report, we have conducted primary surveys (interviews) with key level executives (VPs, CEOs, Marketing Directors, Business Development Managers, and many more) of the major players who are active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed, over the next five to ten years.

• Secondary Research

Secondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and commercial study of the wearable tracking devices market. It was also used to obtain key information about major players, market classification, and segmentation according to industry trends, geographical markets, and developments related to the market and perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, SEC filings, journals, white papers, corporate presentations, company websites, international organization of chemical manufacturers, some paid databases, and many others.

Recent Development

The world's centre for all critical technical advancements is widely acknowledged to be North America. With the development of intelligent devices, there is an increasing need for wearable technologies that are more potent and advanced. Some main factors influencing this region's development are the rise in disposable income and the quick uptake and popularity of upgraded technologies.

Intended Audience

• Hospitals


• Government and private laboratories


• Research and Development (R&D) companies


• Medical research laboratories


• Market research and consulting service providers

Market Segmentation and Key Market Players

Wearable tracking devices Market, by Types

• Wristwear
  
  
  
  • Fitness Bands
  
  
  • Smartwatch
  
  
  
  


• Footwear


• Others

Wearable tracking devices Market, by Application 

• Healthcare


• Consumer electronics


• Others

Wearable tracking devices Market, by Sales Channel

• Online


• Offline

Wearable tracking devices Market, by End-User

• Sportsperson


• Patients


• Others

wearable tracking devices Market, by Region

• The Americas


• Europe


• Asia Pacific


• The Middle East & Africa

wearable tracking devices Market, by Key Players

• Adidas (Germany),


• Gramin Ltd (Switzerland),  


• Apple Inc (US),


• Pebble Technology Corp (US),


• Samsung Electronics Co Ltd (South Korea),


• Sony (Japan),


• Fitbit, Inc. (US),


• Google Inc. (US),


• Xiaomi Technology Co., Ltd. (China),


• Jawbone (US),


• Nike(US)