Fitness Tracker Ring Market Overview
Fitness tracker rings are activity tracker devices which can be used to track sleep, fitness, and calories. These are tiny wearable devices designed to be water resistant and can be wore during daily activities including swimming, bathing and exercising. Further, this innovative micro technology is very helpful to track individual’s health on regular basis. Further, by simply worn it on the fingers it can monitor heart rate as well. Moreover, fitness tracker ring is a rechargeable wearable device with lithium ion battery and when fully charged its battery lasts up to 3-4 days. Furthermore, fitness tracker ring has ability to measure overall active minutes, activity types, active heart rate, sleep duration, calories burned, resting heart rates, distance travel and steps.
Market Size & Forecast
Global fitness tracker ring market is anticipated to flourish at a robust compound annual growth rate (CAGR) over the forecast period i.e. 2017-2024. Technological advancements with smart wearable devices coupled with increasing demand for smart fitness trackers are some of the major factors which are expected to garner the growth of global fitness tracker ring market.
In terms of region, global fitness tracker ring market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America region is anticipated to be the largest market for fitness tracker rings during the forecast period. Presence of leading manufacturing companies of fitness tracker rings such as Motive Inc. and high affordability in this region are anticipated to be the dynamic factors behind the growth of fitness tracker ring market in North America region.
Moreover, Europe region is anticipated to witness a remarkable growth over the forecast period owing to factors such as rising awareness towards fitness and wellness coupled with high adoption rate of wearable devices in this region. Further, Western European countries are expected to be the key contributors to the growth of fitness tracker ring market in this region.
Apart from this, market of fitness tracker ring in Asia pacific region is anticipated to grow at remarkable pace during the forecast period. This growth can be attributed to factors such as addressable population, increasing disposable income of consumers coupled with high spending on healthcare in this region. Emerging economics such as India & China are projected to be the key countries responsible for the growth of fitness tracker market in Asia Pacific region.
Our-in depth analysis of the global fitness tracker ring market includes the following segments:
By Distribution Channel
Global fitness tracker ring market is further classified on the basis of region as follows:
Growth Drivers & Challenges
Global fitness tracker ring market is expected to be drive by rising adoption of fitness trackers among consumers during the forecast period. Fitness tracker rings are very helpful in those situations where continuous activity tracking is one of the major concerns. Further, adoption of fitness tracker rings is expected to grow due to its compatibility with daily activities such as bathing, swimming, exercising and other activities.
Furthermore, rising disposable income of consumers and increasing spending on healthcare devices are expected to be the key factors which may drive the growth of global fitness tracker ring market during the forecast period.
Moreover, rapid technological advancement is a major factor anticipated to boost the demand for fitness tracker ring in near future. Additionally, fitness tracker has wide range of ability such as ability to measure overall active minutes, activity types, active heart rate, sleep duration, calories burned, resting heart rates, distance travel and steps. Such abilities of fitness tracker rings are expected to positively impact the growth of global fitness tracker ring market in near future.
However, for now the app for fitness tracker rings are only available for iOS users. Further, lack of compatibility of fitness tracker ring with smart phone users (other than iOS users) is expected to dampen the growth of global fitness tracker ring market during the forecast period.
The major players for fitness tracker ring market are as follows:
Key potential companies that may enter into manufacturing of fitness tracker ring are mentioned below:
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