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.
The global fitness tracker ring market is segmented into distribution channel such as online stores and offline stores. Among these segments, rising consumer’s preference for online shopping coupled with availability of fitness tracker ring on online distribution channels is anticipated to fuel the growth of online segments during the forecast period. Moreover, fitness tracker ring can work properly in every condition such as while running, while sleeping, in areas of adventures and harsh conditions owing to its compact and waterproof design.
Global fitness tracker ring market is expected to register a robust CAGR over the forecast period. Moreover, the global fitness tracker ring market is expected to reach at notable revenue by the end of 2024. The market is expected to expand on the back of rising awareness amongst the consumers regarding fitness and well ness. Further, rising swelled disposable income of the consumers and increasing adoption of smart technologies are some of the major factors which are anticipated to fuel the demand for fitness tracker ring during the forecast period i.e. 2017-2024.
In addition to this, the fitness tracker rings are designed to fulfill both fashion and function needs of the consumers. Fitness tracker rings are available in different colors and sizes. Further, fitness tracker rings are capable of tracking a number of activities such as running, sleeping, steps, resting. Moreover, it can also measure heart rates, calories burned and distance.
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Rising adoption of smart technologies
Rapid introduction of innovative and advanced technologies and increasing consumer’s inclination towards smart technologies are major reasons which are fostering the growth of global fitness tracker ring market. Fitness tracker rings are allowing consumers to measure and monitor a number of activities such as sleeping duration, heart rate monitoring, distance, running, steps and burned calories on daily basis. Apart from this, attractive design of fitness tracker ring is a key factor which is leading consumers towards fitness tracker rings.
Increasing sales of fitness trackers
The global fitness tracker ring market is primarily driven by a number of factors such as increasing number diabetic patients, rising awareness amongst the consumers regarding fitness and wellness across the globe. Further, rapid urbanization and swelled disposable income of the consumers are also anticipated to be the dynamic factors behind the growth of fitness tracker ring market during the forecast period. However, high cost of fitness tracker rings and lack of compatibility with smart phones except iPhone mobile OS are some of the factors that are likely to hinder the growth of the Fitness Tracker Ring Market in the near future.
The report titled “Fitness Tracker Ring Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global fitness tracker ring market in terms of market segmentation by distribution channel and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global fitness tracker ring market which includes company profiling of Motive Inc. Key potential companies that may enter into manufacturing of fitness tracker ring are Fitbit Inc., Jawbone, Garmin International Inc., Samsung, Apple Inc., FoSsil Group Inc. (Misfit), TomTom International BV. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global fitness tracker ring market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Source: EIN Presswire