According to a report by a market research company, P&S Intelligence, wearable fitness trackers market is growing rapidly, and this trend will continue in the years to come.  

This growth of the industry is because of the growing usage of fitness tracking apps, increasing requirement for wireless and incessant health monitoring devices, rising consciousness about obesity, and increase in income. 

Smart garments and body sensors are growing the fastest. This development is mostly because of the growing collaboration of fitness, fashion, and high-tech companies. These trackers are available through indirect and direct distribution channels. 

Indirect distribution channels held the larger share in the industry. This larger share of the category is mostly because of the snowballing count of online stores and increasing consumers preference for online shopping, worldwide. 

 North America dominated the wearable fitness trackers market, because of the occurrence of more than a few stalwarts of the industry, for example, Fitbit Inc., Apple Inc. Fossil Group Inc., growing occurrence of chronic ailments, rising acceptance of fitness trackers for health monitoring, and growing healthcare spending.  

Increase in new product introductions, and incorporation and cross compatibility of personal health and personal assistance are  trending in the market.  

Worldwide, the market players are concentrating on the launch of new and innovative products, primarily with the strategic aim for increasing geographic occurrence and increase product portfolio.  

Likewise, cutting-edge integration and cross compatibility of personal health and assistance features in a single smartwatch product is a protuberant trend in the market. 

The increasing usage of smartphone-based fitness tracking apps is a main driver in the industry. These fitness tracking apps deliver improved functionality with features and designs that can aid an individual for staying fit.  

As a result of easy convenience and low cost, customers are becoming more persuaded toward the use of these apps, subsequent in an increase across the leading smartphone platform.  

Furthermore, the fitness tracking apps are aided by all key smartphone operating systems, for example Android, Apple, and Blackberry. Likewise, there has been an surge in the requirement for the production of wireless and incessant health monitoring devices, as a result of increasing elderly population and related diseases with this age group, for example diabetes which needs continuous health monitoring.  

Likewise, the disapproving reimbursement policies by healthcare payers make the medical devices with latest techs, less affordable by a large count of patients, fuels the growth of the industry. 

 It is because of the increasing use of fitness apps, and rising awareness about obesity all over the world the demand for fitness trackers will continue to rise in the years to come.

SOURCE: P&S Intelligence