COVID-19 increased awareness regarding health, thus increasing sales of fitness monitoring products. Sales of fitness monitoring devices marked a positive impact owing to the rise in COVID-19 cases. Furthermore, rising disposable income and increasing expenditure on wearable technology are factors likely to foster market growth.ĬOVID-19 Pandemic Has a Positively Impact on Fitness Tracker Market Growth The global market is currently growing at a substantial rate due to an increase in these trackers' adoption among young people. The data collected can help the doctors or helpers to research, understand, and analyze what practices should be adopted to offer quick recovery, improve decision-making, and obtain desired health outcomes. ![]() For example, Geisinger Orthopedic Institute initiated a research program with the help of wearable devices to collect patient data in real-time to monitor and track their activities along with personal data collection. To integrate into wellness programs, several wearable devices are paving their way into clinical settings and are used to offer real-time monitoring data. Though the integration of consumer-based wearable technologies into health research is still new, the field is progressing rapidly. Thus, creating a high demand for fitness monitoring devices. For Instance, according to the Pew Research center, in 2019, one in five Americans regularly use a fitness monitoring device. Tracking devices are wirelessly synced with a computer or a smartphone and can be used anywhere by anyone to monitor fitness and health-related parameters. These devices are used to track and monitor physical and fitness activities such as steps covered, calories burned and consumed, heart rate, distance covered, sleep duration, and breathing. The fall in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.įitness trackers have become extremely popular and feasible for use among the general population. The market is projected to grow from USD 36.34 billion in 2020 to USD 114.36 billion in 2028 at a CAGR of 15.4% in the 2021-2028 period. ![]() ![]() Based on our analysis, the global market exhibited a stellar growth of 19.5% in 2020. The global impact of COVID-19 has been unprecedented and staggering, with fitness trackers witnessing a positive demand shock across all regions amid the pandemic. The global fitness tracker market size was USD 36.34 billion in 2020.
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