Growing Awareness Among Consumers About Monitoring Fitness Activities For Good Health And Rising Investments In Advancements In Wireless Technologies Are Expected To Boost Market Growth
Seoul, South Korea, Aug. 15, 2022 (GLOBE NEWSWIRE) — Fact.MR, a market research and competitive intelligence provider, has conducted a complete analysis on the wireless health and fitness devices market, which is anticipated to increase at a stupendous CAGR of 12% from 2022 to 2026.
Health monitors are becoming more widely available in a variety of wearables, including wristbands, smart watches, and mobile phone integration. Additionally, as technology develops, the capabilities of these devices and applications have grown, improving their accuracy and enabling them to become comprehensive healthcare solutions. Fitness wearables are among the most widely used technological tools for keeping track of many elements of users’ lifestyles and exercise routines.
The wireless health and fitness devices market is expected to increase owing to the rising cloud computing, wireless communication technology advancements, widespread adoption of 4G, and growing investments in 5G networks.
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The market is influenced by the widespread use of wireless devices in sports analytics and the rising popularity of smart medical devices in response to the desire to reduce medical monitoring errors. Additionally, the market for wireless health and fitness devices is positively impacted by rising living standards, increase in the risk of lifestyle diseases, rising health consciousness among the populace, and lifestyle changes.
There has been an increase in the importance of maintaining good health and fitness due to rising health awareness, focus on leading active lifestyles, alarming rise in obesity & related issues, and rising health dangers of a sedentary lifestyle. The industry is expanding as a result of extensive modernization and incredibly advanced and affordable wireless healthcare technologies.
Which Product is Expected to Hold a Dominant Market Share?
“Growing Usage of Sports & Fitness Devices for Maintaining Health & Safety”
Based on the product, the wireless health and fitness devices market is segmented into sports & fitness, remote health monitoring, and professional healthcare. Sports & fitness devices account for over 60% share of the global market. To maintain their health and safety, consumers are increasingly choosing wearable wireless sports, fitness, and wellness devices.
Wireless fitness tracking devices assist users in gathering and assessing data based on the user’s physical state and performance, which has helped wearable fitness gadgets catch the attention of consumers and enthusiasts. As smart sports fitness trackers support users in achieving their own goals, such as obtaining enough sleep and keeping a healthy weight, consumers are embracing them at an increasing rate.
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Key Segments Covered in the Wireless Health and Fitness Devices Industry Survey
By Product :
Sports & Fitness
Remote Health Monitoring
Professional Healthcare
By Application :
Monitoring
Diagnosis
By Region :
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Competitive Landscape
Key companies are striving to provide cutting-edge, new products with advanced features and functions while expanding their global sales channels. To meet the growing demand, market participants are concentrating on research and development to produce more effective products. Top manufacturers are forming strategic alliances to broaden their product offerings and improve their market dominance.
For instance,
In 2021, for the upcoming generation of athletes, Catapult announced the release of Catapult One, its revolutionary wearable performance product. Catapult One gives athletes and coaches the resources they need to accurately track, evaluate, and enhance performance at all levels.
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Key players in the Wireless Health and Fitness Devices Market
Withings SA
Misfit Inc.
Nuubo
Omron Healthcare Co., Ltd.
Alive Technologies Pty. Ltd.
Apple Inc.
Key Takeaways from Wireless Health and Fitness Devices Market Study
The wireless health and fitness devices market currently accounts for a valuation of US$ 370 million.
Market in Germany forecasted to rise at CAGR of 11.5% through 2026.
Sales of remote health monitoring devices expected to rise at CAGR of 12.5% from 2022 to 2026.
Market in Japan anticipated to increase at CAGR of 10% during forecast period.
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