Smart fitness gear are utilized for actual physical exercises that really help in managing overall weight, improve actual physical endurance, and develop muscular strength. These units are utilized to track information like sleep, steps, calories, pulse rate, along with various other physical state, which further help in improving the general physical fitness of the body.
Rising recognition among individuals related to health and fitness is on the list of major driving factors for progress of the global smart fitness industry. The factor attributed to progress of the market is soaring health issues for instance obesity, heart attack, diabetics, which further increases demand for physical fitness equipment.
As an example, in 2013, according to the Institute for Health Metrics and Evaluation analysis, almost thirty % of the world public was suffering from unhealthy weight gain or obese, internationally. Furthermore, in accordance with the diabetics.org, the total number of individuals in the U.S. suffering from diabetes patients was 7.2 million in 2014, and also in 2015, 1.5 million new cases have been reported that had been 6.7 % per 1,000 people. So, increasing recognition among folks will proportionally demand for such fitness equipment, that will allow them to track health connected info such as heart rate, amount of calories burned and workout time. This’s expected to further help to enhance their general fitness of the body, subsequently aiding in development of the worldwide smart fitness industry.
In addition, growing federal initiative diets regarding health awareness is yet another factor propelling progress of the market. For example, in May 2004, in the 57th World Health Assembly (WHA) endorsed the World Health Organization’s (WHO), Global Strategy on Diet, Physical exercise, and Health. The target of this method is promoting as well as protect overall health by guiding at every individual, community, national, and world-wide level such that it may help in reducing disease as well as death rates related to unhealthy Alpilean reviews 2022 diet Pills amazon (www.firstpost.com) and physical inactivity.
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High price of smart fitness equipment is significant factor that limits growth of the market. This pushed start up gyms & in house people and fitness centres to purchase second-hand equipment. So, high prices of these equipment is a significant factor hampering purchase of equipment which is new for commercial purposes. This’s anticipated to negatively affect sales of new wise fitness equipment.
Worldwide Smart Fitness Market: Segment Trends
On the foundation of merchandise type, the smart watch segment accounted for the biggest market share in 2017 and it is likely to maintain the position of its throughout the forecasted time. This is owing to demand which is high for wireless health monitoring devices. As an example, according to the Coherent Market Insights’ analysis, the whole device of smart watches sales in 2016 was US$36 million which increased to US$76 million in 2017, internationally. These smart watches handle several functions such as for example real time heart rate monitoring, health monitoring, tracking footsteps, tracking number of calories burnt, overall sleep statistics, tracking exercise instruction, and tracking of user’s daily routine to give valuable insights on the health of theirs. This further assists doctor to identify their patient’s health remotely. This’s expected to aid in development of the segment over the forecast period.
Global Smart Fitness Market: Regional Insights
North America held a dominating position in the global wise health market in 2017, and it is expected to retain its dominance through the entire forecast period (2018-2026). This growth is attributed to increasing number ofhealth problem related to obesity as cardiovascular disease, type two diabetes, and others, which specifically impacts adults, youth, and children. For example, according to the National Centre for Health’s analysis, in 2017, in the U.S. 40 % of adults as well as nineteen % of youths were suffering from obesity. So, growing concern among individuals concerning health related concerns is leading to increasing need for fitness equipment, in order to handle the fitness of theirs. Hence, all of these factors are going to help in propelling advancement of the intelligent health market in this specific 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 on the market like Apple Inc., Fitbit Inc., Samsung, and others are focusing on adopting mergers as well as acquisitions strategy, to be able to strengthen the foothold of theirs in the market. For instance, in February 2018, Fitbit, Inc. acquired the Twine Health. The aim of the acquisition is increasing their offerings in the healthcare sector, which further helped the company to gain a competitive edge in the market.