Smart fitness equipment are used for actual physical workouts that really help in managing general weight, improve physical endurance, and build muscular strength. These units are widely used to track info like sleep, steps, calories, heart rate, and various other physical health, which additionally assist in increasing the overall physical fitness of the human body.
Rising awareness among individuals connected with health and fitness is one of the major driving elements for progress of the global wise health industry. The point attributed to progress of the market is soaring health problems for instance obesity, heart attack, diabetics, which further increases need for fitness equipment.
For instance, in 2013, based on the Institute for Health Metrics as well as Evaluation analysis, nearly thirty % of the world public was suffering from morbid obesity or obese, internationally. Additionally, in accordance with the diabetics.org, the total number of individuals in the U.S. struggling from diabetics was 7.2 million in 2014, and also in 2015, 1.5 million new cases have been reported that had been 6.7 % per 1,000 persons. Thus, increasing recognition among folks will proportionally demand for that fitness equipment, that will enable them to monitor health related information such as heart rate, amount of calories burned as well as exercise time. This’s expected to further assist to enhance their overall fitness of the body, subsequently aiding in progress of the worldwide smart fitness industry.
In addition, growing federal initiative plans in connection with health awareness is another aspect propelling expansion of the market. As an example, in May 2004, in the 57th World Health Assembly (WHA) endorsed the World Health Organization’s (WHO), Global Strategy on Diet, Physical exercise, and Health. The aim of this method is promoting as well as protect health by guiding at every individual, community, national, and world-wide level such that it may help in reducing disease and death rates related to physical inactivity and unhealthy diet.
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High price of wise fitness equipment is major ingredient that limits growth of the marketplace. This pushed start up gyms & in house users leanbean before and after (mouse click the following web page) fitness centres to purchase second hand equipment. So, high rates of these gear is a significant factor hampering purchase of brand new equipment for commercial purposes. This is likely to negatively affect sales of new smart fitness equipment.
Worldwide Smart Fitness Market: Segment Trends
On the foundation of product type, the smart watch segment accounted for the largest market share in 2017 and is anticipated to maintain its role during the forecasted period. This’s owing to demand that is high for wireless health monitoring units. For example, according to the Coherent Market Insights’ studies, the whole product of smart watches sales in 2016 was US$thirty six million which increased to US$seventy six million in 2017, internationally. These bright watches handle several characteristics such as for instance real time pulse rate monitoring, health monitoring, tracking footsteps, tracking number of calories burnt, overall rest statistics, tracking exercise instruction, and tracking of user’s day regimen to offer useful insights on their health. This further helps health care provider to identify their patient’s health remotely. This is anticipated to aid in growth of the segment with the forecast period.
Worldwide Smart Fitness Market: Regional Insights
North America held a dominant position in the global smart health market in 2017, and it is anticipated to retain the dominance of its throughout the forecast period (2018-2026). This particular development is caused by increasing number ofhealth issue in connection with being overweight such as heart conditions, type 2 diabetes, and also others, which specifically impacts children, youth, and adults. For instance, based on the National Centre for Health’s studies, in 2017, in the U.S. 40 % of adults as well as nineteen % of youths have been suffering from being overweight. So, growing concern among people concerning health associated concerns is leading to increasing need for fitness equipment, in order to manage their fitness. Hence, each one of these factors are going to help in propelling expansion of the intelligent health market in this kind of region.
Worldwide Smart Fitness Market: Competitive Landscape
Major players running in the worldwide smart fitness market are Apple Inc., Fitbit Inc., Garmin Ltd., Jawbone, LG Electronics, MAD Apparel, Inc., Samsung Electronics Co., Ltd., Sony Mobile Communications Inc., Polar Electro, and OMsignal. Major players in the market like Apple Inc., Fitbit Inc., Samsung, and others are working on adopting mergers and acquisitions strategy, to be able to strengthen their foothold in the market. For instance, in February 2018, Fitbit, Inc. acquired the Twine Health. The aim of the acquisition is to increase their offerings in the healthcare industry, which more helped the company to obtain a competitive advantage in the marketplace.
