Fitness Wearables Market
Delivered August 12, 2019. Contributor: Hanine K.
Goals
For a campaign strategy, provide a market analysis of the fitness wearables in the United States. Additionally, build a competitive landscape for major players in the industry including the player's revenue, market cap, recent news, and product line.
Early Findings
WEARABLES MARKET
- The Wearables segment includes devices that are explicitly intended for fitness: In particular, fitness wristwear and smart clothes like smart socks from Sensorias. In addition, eyewear (smart glasses) is considered in the Wearables segment.
- Revenue in the Wearables segment amounts to US$3,096 million in 2019.
- Revenue is expected to show an annual growth rate (CAGR 2019-2023) of 5.0%, resulting in a market volume of US$3,770 million by 2023.
- User penetration is 11.8% in 2019 and is expected to hit 11.7% by 2023.
- The average revenue per user (ARPU) currently amounts to US$79.75.
- In the Wearables segment, the number of users is expected to amount to 39.6 million by 2023 growing from 38.8 million in 2019.
- In 2018, 46.1 million wearable devices were shipped in the United States.
- A quarter of American adults (56.7 million) will use a wearable device at least once a month in 2019.
MAJOR PLAYERS
- Fitbit was the leading player in the US fitness band market. Promotional deals on Black Friday and Cyber Monday helped the company to increase its sale in terms of volume.
- Garmin was the second-largest player. Its Vivofit fitness band, Vivo HR and HR+ are some key products.
- Other major players included Jawbone, Samsung, Polar, Apple, Mi Band and other small players.
NEW/EMERGING PLAYERS
Research proposal:
Only the project owner can select the next research path.