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Wise fitness equipment are utilized for physical workouts that help in managing overall weight, boost actual physical stamina, and also develop muscular strength. These devices are utilized to track info like sleep, steps, calories, pulse rate, along with various other bodily condition, which additionally help in improving the overall fitness of the human body.
Rising recognition among people related to health and fitness is one of the major driving elements for expansion of the global wise health industry. The point attributed to development of the industry is rising health problems including obesity, diabetics, heart attack, which further increases demand for fitness equipment.
As an example, in 2013, based on the Institute for Health Metrics and Evaluation analysis, almost 30 % of the world public was suffering from morbid obesity or perhaps obese, internationally. Furthermore, according to the diabetics.org, the total amount of men and women in the U.S. struggling from diabetes patients was 7.2 million in 2014, and in 2015, 1.5 million new cases were reported that had been 6.7 % per 1,000 people. Thus, increasing recognition among folks will proportionally demand for that fitness products, that will enable them to monitor health related info like heart rate, amount of calories burned and also exercise time. This's likely to further make it possible to enhance their general fitness of the body, consequently aiding in expansion of the global smart fitness market.
Moreover, growing government initiative diets in connection with health awareness is another component propelling development of the marketplace. For instance, in May 2004, in the 57th World Health Assembly (WHA) endorsed the World Health Organization's (WHO), Global Strategy on Diet, Physical activity, and Health. The aim of this method is promoting as well as protect overall health by guiding at each individual, national, community, and world-wide level such that it helps in reducing disease and death rates related to physical inactivity and unhealthy diet.
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High price of smart fitness equipment is major factor that limits growth of the marketplace. This pushed start-up gyms & fitness centres and in house people to get second-hand equipment. Therefore, high prices of these equipment is a significant factor hampering purchase of equipment which is new for commercial purposes. This is likely to negatively affect sales of new wise fitness equipment.
Worldwide Smart Fitness Market: Segment Trends
On the foundation of item type, the smart watch segment accounted for the largest market share in 2017 and is expected to retain the role of its during the forecasted time. This is owing to increased demand for wireless health monitoring units. For instance, according to the Coherent Market Insights' analysis, the entire unit of smart watches product sales in 2016 was US$thirty six million which increased to US$76 million in 2017, globally. These bright watches handle multiple characteristics particularly real time pulse rate monitoring, health monitoring, tracking footsteps, tracking number of calories burnt, overall rest statistics, tracking exercise training, and monitoring of user's day routine to offer useful insights on the health of theirs. This Explore further - new post from Thereporter, helps physician to identify their patient's overall health remotely. This's anticipated to aid in growth of the segment with the forecast period.
Global Smart Fitness Market: Regional Insights
North America held a dominating position in the global wise health market in 2017, and it is expected to retain its dominance throughout the forecast period (2018-2026). This development is caused by increasing number ofhealth issue related to weight problems for instance heart conditions, type two diabetes, as well as others, which directly impacts children, youth, and adults. For example, based on the National Centre for Health's analysis, in 2017, in the U.S. 40 % of adults as well as nineteen % of youths have been suffering from being overweight. So, growing concern among people today concerning health connected concerns is leading to increasing need for fitness equipment, to be able to handle their fitness. Hence, all of these factors are going to help in propelling expansion of the smart health market in this particular region.
Global Smart Fitness Market: Competitive Landscape
Major players running in the worldwide wise fitness market are Apple Inc., Fitbit Inc., Garmin Ltd., Jawbone, LG Electronics, MAD Apparel, Inc., Samsung Electronics Co., Ltd., Sony Mobile Communications Inc., Polar Electro, and OMsignal. Major players on the market like Apple Inc., Others, Samsung, and Fitbit Inc. are working on adopting mergers and acquisitions strategy, to be able to strengthen their foothold in the market. As an example, in February 2018, Fitbit, Inc. acquired the Twine Health. The objective of the acquisition is increasing the offerings of theirs in the healthcare sector, which further helped the company to gain a competitive edge in the market.
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