Recent report published by research nester titled “Fitness Tracker Ring Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the fitness tracker ring market in terms of market segmentation by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The fitness tracker ring market has been segmented by distribution channel into online stores and offline stores, out of which offline stores are anticipated to garner highest market share over the forecast period. This can be attributed to rising number of internet users across the globe. Factors such as diversity in fitness tracker rings from different manufacturers and ease of shopping online are estimated to drive the growth of the fitness tracker ring market with noteworthy revenue by the end of 2024.
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The global market for fitness tracker ring is expected to flourish at a robust compound annual growth rate over the period 2017-2024. With an increase in fitness enthusiasts, there is a growing demand for smart wearable fitness trackers. Further, rising awareness towards health and advancements in technology is expected to garner the progression of fitness tracker rings market by the end of 2024.
In the regional segment, North America is estimated to be the largest market for fitness tracker rings during the forecast period. Factors such as high affordability and presence of leading manufacturing companies of fitness tracker rings are anticipated to be the major factors behind the growth of fitness tracker ring market in North America region.
Moreover, rising awareness towards fitness and wellness coupled with high adoption rate of wearable devices is anticipated to witness a remarkable growth over the forecast period in Europe region. Apart from this, market of fitness tracker ring in Asia pacific region is anticipated to grow at remarkable pace due to increasing population and rising disposable income of the consumers.
Fitness Fanatics to Boom the Market
Global fitness tracker ring market is expected to be driven by consumers that need continuous activity tracking. The rising adoption of fitness trackers among consumersis expected to benefit the expansion of fitness tracker rings market over the forecast period. Further, tracking the daily activities such as bathing, swimming and exercising among others via fitness tracker rings is believed to supplement the growth of the fitness tracker rings market globally.
However, high cost and lack of compatibility of fitness tracker ring with smart phone users is likely to inhibit the growth of the fitness tracker rings market in the near future.
This report also provides the existing competitive scenario of some of the key players of the fitness tracker ring market which includes company profiling of Motive Inc., Fitbit, Jawbone, Garmin International, Samsung, Apple, Misfit and TomTom.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the fitness tracker ring market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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