Market Research Blogs
Smart fitness industry trends, devices, wearables and technology updates
Published Date: March 17, 2017 Author: Ojaswita Kutepatil
In response to concerns over health, smart fitness industry has found a unique footing in an era where technology has pledged to transform lives for the better. The latest trends in health technology are helping people improve their personal health in a way that fits their lifestyle.
The modern day sedentary lifestyle is hitting people with a plethora of risk factors, which are a consequence of being physically inactive. This has dramatically increased the risk of disorders, including cardiovascular diseases, weight gain, diabetes, back/neck pain, and muscle degeneration. Obesity, regarded as one of the root causes of the disorders mentioned above, was the chief driving force behind the increasing market of the gyms and fitness clubs. However, it is worth noticing that the revenue through these health clubs has fallen considerably over the recent years. The evolving smart fitness industry is the main factor behind this decline, driven by the ‘smart decisions’ pertaining to consumer health.
The proliferation of self-monitoring smart fitness devices is taking a quantum leap forward by combining high-tech with high-touch. Smart fitness industry is likely to witness tremendous growth via the increasing adoption of smart fitness devices such as health monitoring and tracking equipment. The business models are changing to be more outcome-focused and patient-centric, which will lead to significant opportunities on the horizon.
Market players are investing heavily in connected health and smart fitness industry with an aim to deliver care more efficiently. In this regard, the participation of tech giants such as Google, Apple, Fitbit, etc., is worth noticing. Apple’s Smartwatch IOS recently made it to the front-page for recording an appreciable revenue worth over USD 2.5 billion in Q4 2016. This accounts for approximately 80% of the overall smartwatch industry.
The ever-evolving fitness and healthcare technologies have been successful in engaging consumers to manage their health by adopting smart fitness devices. Free access to information pertaining to health and fitness such as diet and nutrition, health, stress management, and diseases will further propel the smart fitness industry. Fascinatingly, the rise of fitness trackers in the fitness and healthcare continuum is advancing at a fast rate. GPS equipped smart fitness devices are gaining a heavy momentum in smart fitness industry, owing to the escalating adoption by athletes and trainers to enhance the quality of health monitoring. GPS fitness device market is expected to grow at a CAGR of 15% over 2016-2023.
Having established its prominence in the smart era, smart fitness industry is yet to go mainstream. Below mentioned are the current trends floating in the smart fitness industry. Among these, some categories have passed the testing phase, while others will be the emerging trends of the future.
Wearables: The fledgling wearable smart devices industry presently caters to a niche customer base. Wearable technologies will play a vital role in the smart fitness industry by delivering improved services through real-time. Fitness wearables include smart garments, wristbands, chest straps, sports watches, and other fitness monitors. Amongst these, smart watches and fitness bands are the most popular wearable devices. They help increase awareness and prompt consumers to take simple steps toward a healthier life, which in turn will sustain their interest and push wearable technology to the mass market. Smart fitness wear market is expected to grow at a rate of 30% over 2016-2023, according to Global Market Insights, Inc.
Smart garments: Various companies are starting to play around with the concept of connected garments in the smart fitness industry. Smart clothing aids in tracking heart rate, boosting calorie burning rate, and monitoring other health parameters while exercising. The advent of smart running shorts, leggings, and capris that can monitor cadence, ground contact time, breathing rates, and stride length will thrive the smart fitness industry growth over the coming years. Smart garments and clothing will be a huge market accumulating a major share of the overall smart fitness industry.
Smart Shoes: These important pieces of basic fitness equipment can expect a future where shoes can create a virtual map of the foot and highlight the gait pattern by monitoring the amount of force exerted. Moreover, this footwear design is likely to connect to Google Maps using Bluetooth and help people reach the correct destination, calculate the travelled distance more accurately, and automatically keep them moving at a set pace.
Smart fitness TV videos and apps: These setups include a virtual mirror, which uses the TV camera to reflect a person’s image, performing the same actions as the fitness instructor. This technology can help provide instantaneous feedback on one’s form and posture.
Mobile health applications: Smart fitness industry is gaining high prominence via mobile health applications, with smartphones racing ahead in the market to help people track their health condition. A study says that some 19% of smartphone owners have minimum of one health app, with exercise, weight, and diet apps being the most popular types. mhealth industry, worth approximately USD 4.8 billion in 2015, is projected to surpass USD 60 billion by 2023. Over 140 million health apps have been downloaded in 2016, and the number of patients monitored over mobile networks was approximately over 2 million in 2016.
Smart Body Analyzer: These types of scales are especially manufactured for those who want to gain muscle, by analyzing day-to-day health, measuring weight, heart rate, and body fat percentage, and transferring this information to an app where this data can provide an accurate virtual representation of the body to monitor fitness goals over time.
Virtual Training: Many fitness apps in the market currently offer virtual coaching. Moreover, easily accessible data and integration of machines at gyms will allow for a personalized workout, wherein the machine can adjust itself as per the users’ need. It will also prove helpful for instant assistance and immediate correction of forms.
The current study suggests that the increasing consciousness amongst the global youth to maintain a good physique will augment the global smart fitness industry. The year 2017 has already witnessed significant advancements in smart fitness industry, wherein the connected devices are helping people around the world meet their health and fitness goals. It is quite evident that with the increasing adoption of smart devices worldwide, health care and fitness will become more personable, autonomous, and remote.
While high cost remains a vital restraining factor associated with the smart fitness industry, the bigger picture suggests that the technological advancements and the health-driven consumer approach will usher in a new set of opportunities for key smart fitness industry players.
Explore more reports on smart and sustainable technologies by Global Market Insights, Inc. at https://www.gminsights.com/industry-reports/sustainable-and-smart-technologies .