Digital Fitness Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Digital Fitness Market: Snapshot
The digital fitness market has witnessed a marked momentum from the growing relevance and role of various fitness devices that are a wonderful confluence of healthcare and IT. Over the past few years, fitness activity trackers have garnered huge popularity in various parts of the world. Some of the products types that have witnessed considerable commercialization in recent years include heart monitors, calorie monitors, sleep monitors, and exercise trackers. A key proposition for their popularity is their use in monitoring chronic conditions in patient populations. Ease of availability of such devices in e-commerce channels has also reinforced their prospects in the global digital fitness market. Scores of companies have leveraged the potential of e-commerce channels to augment the sales of fitness activity trackers. Recently, the use of digital fitness devices equipped with mobile sensor technology has been demonstrated in health data collection in research.
Advances in sensor technologies have helped drive their applicability as a collaborative approach in measuring physical activity in research. Numerous brands have seen this application as a robust way to capitalize on new opportunities in the digital fitness market. A case in point is the applicability of digital wrist-worn fitness wearables, especially with accelerometers. Further momentum in this direction will come from relentless efforts of several brands of digital fitness devices to improve the quality so as to make it suitable for research applications. This is paving way to new potential in the digital fitness market. One way to do this is by incorporating new optical techniques. The trend is prominent in high-end fitness trackers such as sports watches
Digital Fitness Market Introduction
The digital fitness market involves the addition of digital applications and devices in the modern trends of health and fitness. Various fitness devices, such as smart watch, smart sport shoes, and other wearable devices, that can track the users’ fitness parameters and physical activities is witnessing burgeoning demand, boosting growth of the digital fitness market. Leading tech-giants are collaborating with market leaders in the sports and fitness industry to foray into the digital fitness market as consumers are more inclined toward digital fitness subscriptions than traditional gym memberships.
Digital Fitness Market – Notable Developments
Adidas AG, Apple Inc., Samsung Electronics Co. Ltd., Fitbit, Inc., and Garmin, Ltd. are among the leading companies in the digital fitness market.
Digital Fitness Market Dynamics
Increased Demand for High-tech, Self-monitoring Fitness Devices Drives Growth of the Digital Fitness Market
A mounting number of consumers, especially young-adults and millennials, are becoming increasingly conscious about their health and fitness. In order to avoid various health problems, consumers are seeking more convenient and user-friendly ways to control weight gain and maintain physical fitness, which is one of the primary drivers for the digital fitness market.
With the recent developments in technologies and growing trend of digitization, most consumers are adopting next-generation and self-monitoring digital fitness devices for maintaining their regular fitness habits. Thereby, manufacturers in the digital fitness market are identifying the changing requirements of end users associated with digital fitness products to modify their business strategies and capitalize on lucrative sales opportunities.
Digitization of the Fitness Industry will Bolster Developments in the Digital Fitness Market
While the health and wellness trend has maintained its growth worldwide since the past decade, micro trends in the wellness industry has undergone some digital transformations in the recent years. Though consumers are seeking ways to improve their fitness, on-paper fitness plans have become obsolete now-a-days. As digital fitness enables consumers to keep track of their fitness activities and monitor their progress towards their fitness goals, the fitness industry has been transitioning towards digitization rapidly.
Growing awareness about the convenience and fitness efficiency associated with using digital fitness devices and products is resulting in the increased popularity of digital fitness. Thereby, rapidly transforming fitness industry is expected to trigger innovations and more developments in the digital fitness market in the upcoming years.
Leading Players in the Digital Fitness Market Offer Subscription Models to Boost Product Sales
A large percentage of the millennial population of the world is embracing the digital fitness trend by resorting to sports and fitness apps. Consumers are focused on following a healthy lifestyle by understanding the radical changes in their health and physical fitness. Taking into account the inclination of consumers towards digital fitness devices, leading players in the digital fitness market are introducing attractive fitness subscription models to their potential consumers to boost their product sales. More consumers are preferring to pay for digital fitness programs rather than paying for a traditional gym membership, which is expected to increased popularity of digital fitness subscriptions in the upcoming years.
Digital Fitness Market Segmentation
Based on the product type, the digital fitness market is segmented into:
Based on the product category, the digital fitness market is segmented into
Based on the applications, the digital fitness market is segmented into
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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