The global fitness wearables market is anticipated to expand swiftly due to increasing awareness among individuals to track their fitness activities. Rapid urbanization, changing lifestyle, and increasing purchasing power of consumer are anticipated to drive the market in the years to come. These devices are designed to track heart rate, workout time, total calories burnt, and distance covered. High penetration of smartphones and introduction of devices compatible with mobile applications are also anticipated to boost market growth. For instance, Myntra introduced its first smart wearable device named Blink Go, which is built on Myntra Wearables Platform (MWP). The device monitors various fitness parameters, such as steps, calories, distance, sleep, and heart rate sensor. It can be synced with smartphones to get standard alerts and notifications. Several additional features of the device include Multi-Tracker Support and Sleep Goals & Tools.
Moreover, rising incidence of chronic diseases and growth of elderly population are projected to augment market growth in the years to come. Increasing number of individuals suffering from lifestyle diseases, such as diabetes and obesity, which require monitoring of the physical activity, is expected to boost market growth. Introduction of such devices that can be used for monitoring daily activities can support market growth. Furthermore, numerous ongoing projects associated with electronics and healthcare are expected to have a positive impact on market growth. Technological advancements and increasing R&D investments by manufacturers are also anticipated to boost market growth. In addition, advancements in sensor technology, and emergence of Internet of Things (IoT) and connected devices are projected to provide lucrative growth opportunities for the market.
However, high cost of these devices may hinder market growth.
Different types of fitness wearables include wristband, smartwatch, smart clothing, and shoes. Smartwatch is a leading product in the market as it offers more features than wristbands and other devices. Smartwatch can be linked with internet of things (IoT), big data analytics, and sensors to track physical activity. Fitness wearables, such as smart clothing or smart textiles, are anticipated to exhibit strong growth in the years to come. These products are intended to establish an interface between digital environment and the wearer. They are used with smartphones and other portable connected devices. Smart textiles consist of sensors or conductive fibers, which send data to a smartphone or any other fitness device. For instance, Komodo Technologies developed a new compression sleeve that makes use of electrocardiogram (ECG) technology to monitor heart rate activity. It can monitor an individual’s heartbeat, sleep, and workout intensity. It has built-in sensors that monitor body temperature, UV rays, and air quality. Moreover, it helps in measuring stress levels, and detecting coronary heart disease and heart inflammation.
Similarly, Athos designed a range of training clothes for gym and fitness enthusiasts that are based on medical tech. These clothes have built-in micro-EMG sensors that detect user’s data. For instance, it can discover which of the muscles are working and later transmit this workout data to a smartphone through a Bluetooth core. It can track muscle effort, breathing, and heart rate, and the app provides guidelines to perform exercise correctly and avoid injury.
Sensoria developed new smart running socks called Sock 2.0 that consists of pressure sensors. The product is made using sweat wicking, anti-blistering, and antibacterial material. While running, they can record distance, speed, and time and track routes with the help of GPS. This data can be streamed to the Sensoria 2.0 iOS app in real time or stored on the socks for more than a month.
North America is one of the leading regional markets owing to high consumer awareness and adoption rate of these products. Asia Pacific is likely to witness significant growth in near future due to increasing awareness regarding these devices, improving economic condition, and growing tech-savvy population.
Some of the leading companies operating in the fitness wearables market include Xiaomi Inc.; Sony Corporation; Fitbit Inc.; TomTom International BV; and Samsung Electronics Co. Ltd.
