Global Fitness Bands Market Growth Forecast at 27% CAGR

The fitness bands market is expected to witness significant growth because of the emergence of certain trends that can exert a positive influence on the market during the forecast period, including the decline in cost of wearable technology.

Upcoming trends such as the introduction of cross-over products are expected to gain popularity as they help to diminish the gap between a wrist-worn fitness device and a smartwatch. The introduction of products that primarily acts as a fitness device but also provides the basic functionalities of a smartwatch is expected to bolster market growth during the forecast period. For instance, the launch of products like Surge by Fitbit is expected to impel market growth as it is a fitness device that comes with calling and texting functionalities. The analyst forecast global fitness bands market to grow at a CAGR of 27.05% over the period 2014-2019.

According to the fitness bands market report, fitness bands help consumers track and monitor their fitness activities on a regular basis. Athletes use these devices to measure the distance traveled, calorie count, and heart rate. These devices help control many health concerns including obesity and heart and respiratory diseases.

Fitness bands market is highly competitive and is expected to grow rapidly during the forecast period. Since this market has low entry barriers, the entry of new vendors is expected to intensify the competition between them. Companies that use innovative marketing strategies to sell their products are predicted to gain maximum market prominence during the forecast period. Many vendors are developing affordable low-price fitness bands. Also, the entry of new vendors through the crowdfunding platform will enable small players to create an impact in the market.

Other prominent vendors analyzed in this market study are Amiigo, Atlas Wearables, Fitbug, Flyfit, Goqii, Healbe, iFit, Jaybird, Misfit, Movable, Mushroom Labs, Nautilus, Pivotal, Polar, Razer, Runtastic, Skechers, Striiv, and YU Televentures. Further, the report states that design constraints is one of the major challenges faced by the market.