If you use a fitness tracker or a smartwatch for tracking your heart rate, activity, sleep quality, or the number of calories you are consuming in a day, you are among the millions of people all over the world doing so. As per the Worldwide Survey of Fitness Trends for 2020 conducted by the American College of Sports Medicine, wearable technology will be the number one fitness trend in the world in the coming years.
This technology and wearable fitness trackers have become integral components of today’s health and fitness culture, and the industry is set to expand massively in the upcoming years. Thanks to the rapid technological advancements in these devices, it is now easier than ever to gather important health information and metrics, manage and prevent chronic diseases, develop a physically active and healthy lifestyle, increase the efficiency and volume of exercise, and enrich the quality of life.
The rising popularity of these wearable devices and trackers is to cause rapid expansion in the global wearable fitness trackers market, to $48.2 billion in 2023. Moreover, the market is predicted to progress at a CAGR of 16.5% between 2018 and 2023.
Benefits of Fitness Trackers
One of the biggest factors responsible for the growing usage of fitness trackers is their ability to measure and tell just how active a person is throughout the day. Many people have this notion in their head that they are always on the move, but the moment they strap on a fitness tracker, they realize that they really are not. A fitness tracker lets wearers establish their activity goal for the day, which can be anything that requires them to move their body.
For example, a lot of people use these trackers for setting their step goals for the day. The tracker helps them measure just how many steps they are walking throughout the day and whether they are able to achieve their goals or not. Fitness trackers can also serve as your personal fitness coach. If you want to ramp up your exercise regimen and take it to the next level, these trackers will help you.
With special settings for different physical exercises and activities, such as biking, hiking, running, circuit training, and walking, a wearable fitness tracker can effectively track all your performance metrics and give you the motivation you need for biking faster, running harder, or working out more intensely. Besides being excellent workout buddies, fitness trackers also help you improve your sleep cycles and quality of sleep.
In modern times, with the working hours becoming longer and the nightlife becoming very popular, especially among the younger generation, quality sleep is quickly becoming neglected in day-to-day life. Moreover, the quality of sleep that people are having is deteriorating quickly across the globe. Fitness trackers can help you get your sleep cycle back on track.
With a tracker strapped on your wrist, you will be able to track your sleeping hours and the quality of sleep that you get. There are sleep trackers being sold in many retail outlets that can help you track the sleep quality and duration of your kids. The trackers available in the market for adults can also monitor deep and light sleep.
Emergence of Fitness Tracking Smartphone Apps Fueling Popularity of Fitness Trackers
The rising usage of smartphones has led to the development of many smartphone-based health and fitness applications, which can help people stay fit and healthy. These fitness applications offer advanced functions and features that can help individuals achieve their fitness goals. Due to the easier accessibility and lower costs of these applications than the conventionally used fitness-tracking devices, consumers are increasingly preferring them over actual fitness wearables. Moreover, these apps are compatible with the leading smartphone operating systems, such as Blackberry, Android, and iOS.
Surging Geriatric Population Also Adding Fire to Wearable Fitness Tracker Buzz
The soaring geriatric population and rising incidence of chronic diseases, such as diabetes, are pushing up the demand for wireless and continuous health monitoring devices. This is because geriatric people require continuous remote monitoring, which is only possible with the use of wearable devices. Moreover, the increasing costs of medical treatments and patient care and unfavorable healthcare reimbursement policies in certain (especially developing) countries are making healthcare unaffordable for a large number of patients. This is, in turn, boosting the demand for wearable fitness trackers.
Growing Public Awareness of Health and Wellness Further Boosting Sales of Wearable Fitness Trackers
Apart from the increasing geriatric population and soaring healthcare costs, the rising public awareness on health and fitness is also fueling the sales of wearable fitness trackers across the globe. Many organizations and agencies are conducting health awareness and physical fitness programs for raising awareness among the masses regarding fitness. For example, a non-profit organization in the U.S., called the Campaign to End Obesity, conducts several programs for increasing the public awareness about issues such as proper exercise, diet, and nutrition.
Similarly, in June 2013, the American Association of Physicians of Indian Origin (AAPI) initiated the Childhood Obesity Awareness Program. The Obesity Action Coalition (OAC) is also conducting programs for raising the public awareness about the prevention of obesity and its treatment, with hard evidence and fact-based education on the issue.
Demand for Wearable Fitness Trackers Exploding in Asia-Pacific
In the coming years, the sales of wearable fitness trackers are predicted to grow at the fastest rate in the Asia-Pacific (APAC) region. This would be a result of the existence of local wearable fitness tracker manufacturing companies, which sell these trackers at affordable prices, growing usage of fitness trackers because of the rising incidence of chronic diseases, and surging number of e-shoppers and internet users in the region.
Hence, it can be safely concluded that the demand for wearable fitness trackers would shoot up all over the world in the future, primarily because of the rising requirement for wearable health and fitness monitoring devices and increasing public awareness on health and wellness.
Source: P&S Intelligence
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