Wearable devices in sports are used for monitoring the physicality of sports person. Wearable devices in sports are a combination of various products, which are designed to provide assistance to users. Wearable devices are developed to assist the sports man using technology. Wearable devices use technology such as IoT, Bluetooth, and Wi-Fi to provide information of the overall performance of an individual person. Use of wearable devices emerging due to its reliability and convenience for monitoring the fitness in an easy way. These devices are being upgraded with easy attachments to carry the body weight and also user clothes are given better stability.
Wearable devices in sports market consist of products, which uses technology to provide information such as steps count, calorie burns, running distance, and others. Products used in sports such as smart watch, smart camera, pedometer, and shot tracker gain huge traction over the past few years owing to the increase in health consciousness. These devices provide day to day data for monitoring everyday activities. Fitness tracker and smart watches gain high traction amongst wearable device in recent years. Introduction of technologies, such as smart watch, fitness tracker, and Bluetooth-enabled camera, have provided new growth avenues for the growth of the market. Along with smart devices, the manufacturers have also opted for materials and design advancements, as well. Apart from lightweight, water resistant, and durability of wearable devices in sports, consumers are now inclining toward cost-effective solutions for same.
Easy availability of wearable devices in sports in diversified platforms ranging from modern trade to online sales channels have resulted in the expansion of the global market. Moreover, increase in penetration of retail sales augment the growth of the wearable devices in sports market. In parallel, availability of sports devices on e-commerce platforms result in convenience to buy goods without any physical constraints to the consumers. Not only ease of convenience and comfort, e-commerce enables customers to deep dive for product information, prices and benefits comparison, and comprehensive value evaluation before committing purchase. Furthermore, increase in competition among the stakeholders for better technology providence is expected to boost the market for wearable devices in sports during the forecast period.
The wearable devices in sports market is segmented based on its product type, distribution channel, and region. Based on product type, it is divided into smart watch, smart camera, pedometer, shot tracker, and others. Based on distribution channel, it is further classified into independent retail store, hypermarket/supermarket, brand store, and online sale channel. Based on its region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some major key players profiled in this report are Nike, Under Armour Inc., Fitbit Inc., Apple Inc., Garmin Ltd., Huami Co., Stretch Sense Limited., Huawei Technologies Co., Ltd., Samsung, and Catapult Group International Limited.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the current trends, estimations, and dynamics of the wearable devices in sports market to identify the prevailing market opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the market segmentation assists in determining the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global industry. The market player positioning segment facilitates benchmarking while providing a clear understanding of the present position of the key market players.
- The report includes analyses of the regional as well as global market, key players, market segments, application areas, and growth strategies.
Wearable Devices in Sports Market Report Highlights
By Distribution Channel
Key Market Players
Huawei Technologies Co., Ltd., Catapult Group International Limited., Samsung, Huami Co., Garmin Ltd., Nike, Apple Inc., Under Armour Inc., Stretch Sense Limited., Fitbit Inc.