A fitness tracker is a device or application for monitoring and tracking fitness-related metrics such as distance walked or run, calorie consumption, and in some cases heartbeat and quality of sleep. A fitness tracker can be a smartwatch, or other small device linked to a local area network or otherwise connected to an IT system. The global fitness tracker market will reach 49.45 billion USD by 2025 from 19.64 billion USD in 2018 with a CAGR of 14.1% during the period.
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Growth by Region
Asia Pacific will be fastest growing region owing to increase in population, technological advancements and economic growth. China has huge demand for fitness trackers due to increase in awareness towards fitness among the people. North America held largest share in the market and will continue to dominate the market. Europe will grow at a CAGR of 13.4% during the period.
Drivers vs Constraints
Increase in wearable gadgets and technological advancements are driving the market growth. Increasing health awareness and growing standard of living are further boosting the growth of the market. However, high cost and risk of data theft are hampering the market growth.
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Industry Trends and Updates
Naked Labs Inc, a California-based startup focusing on 3D scanning technology, has launched a home-use 3D body scanner for fitness tracking.
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RiverSong has launched a new fitness tracker – the ACT HR Smart Band, which comes with a 0.87-inch OLED display used to monitor sleep, heart rate and other daily activities.