NEWS
Fitness predicted to continue dominance of wearables market
POSTED 27 Jan 2016 . BY Jak Phillips
Wearables are able to produce an ever-growing array of metrics and information, but the interpretation of this data is where the opportunity lies for the health club industry Credit: Syda Productions / Shutterstock.com
Fitness tracking devices are expected to remain the dominant force in the wearable tech market over the next three years, according to new research, although smartwatches are anticipated to gradually increase their market share.

A new report from technology analyst Juniper Research titled Future Health & Fitness Wearables: Business Models, Forecasts & Vendor Share 2016-2020 observed that lines between traditional fitness tracker bands and other wearables are beginning to blur, with fitness wearables offering a range of call-handling and notification functions that can also be found in smartwatches. The report adds that the existence of app-enabled fitness trackers, such as the Samsung Gear Fit and Microsoft Band, lessens the distinction even further.

The wearable tech market has boomed in recent years and shows no signs of abating, with devices like the Apple Watch pushing wearables firmly into the mainstream. Currently worth around US$5.1bn (€4.5bn £3.2bn), the market is expected to triple in value over the next decade.

Juniper analysts noted that fitness devices remain the most popular wearables currently, because they are both cheaper and have a more obvious use than current smartwatches. They said however, that this would change by 2019, when fitness wearables are expected to be used by approximately 110m people worldwide, while smartwatches will have more than 130m users.

The findings came in the same week that Mintel reported three million wrist-worn wearable devices such as fitness bands and smartwatches were estimated to have been sold in the UK in 2015. This marked a 118 per cent increase on unit sales in 2014, which reached 1.4 million.

Although smartwatches increased their market share in the UK as predicted, it was the fitness band which was the most bought wearable device last year, out-stripping sales of smartwatches by almost two to one.

“While fitness bands are, on average, less expensive than other wearables and have been on the market for relatively longer, higher adoption rates are also a reflection of the fact that wrist-worn devices offer a compelling practical benefit to active users,” said Sara Ballaben, Technology Analyst at Mintel.

“Fitness bands monitor and help to improve their performance while eliminating the need to carry around bulkier devices while training. While important product launches have and will certainly continue to accelerate consumer demand for smartwatches, the expected popularity of smartwatches in the short term is also the result of continued growth of the phablet market, which creates more compelling use cases for wrist-worn watches.”
 


CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2024

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
 
Leisure Management - Fitness predicted to continue dominance of wearables market...
17 May 2024 Leisure Management: daily news and jobs
 
 
HOME
JOBS
NEWS
FEATURES
PRODUCTS
FREE DIGITAL SUBSCRIPTION
PRINT SUBSCRIPTION
ADVERTISE
CONTACT US
Sign up for FREE ezine
Latest news

27 Jan 2016

Fitness predicted to continue dominance of wearables market
BY Jak Phillips

Wearables are able to produce an ever-growing array of metrics and information, but the interpretation of this data is where the opportunity lies for the health club industry

Wearables are able to produce an ever-growing array of metrics and information, but the interpretation of this data is where the opportunity lies for the health club industry
photo: Syda Productions / Shutterstock.com

Fitness tracking devices are expected to remain the dominant force in the wearable tech market over the next three years, according to new research, although smartwatches are anticipated to gradually increase their market share.

A new report from technology analyst Juniper Research titled Future Health & Fitness Wearables: Business Models, Forecasts & Vendor Share 2016-2020 observed that lines between traditional fitness tracker bands and other wearables are beginning to blur, with fitness wearables offering a range of call-handling and notification functions that can also be found in smartwatches. The report adds that the existence of app-enabled fitness trackers, such as the Samsung Gear Fit and Microsoft Band, lessens the distinction even further.

The wearable tech market has boomed in recent years and shows no signs of abating, with devices like the Apple Watch pushing wearables firmly into the mainstream. Currently worth around US$5.1bn (€4.5bn £3.2bn), the market is expected to triple in value over the next decade.

Juniper analysts noted that fitness devices remain the most popular wearables currently, because they are both cheaper and have a more obvious use than current smartwatches. They said however, that this would change by 2019, when fitness wearables are expected to be used by approximately 110m people worldwide, while smartwatches will have more than 130m users.

The findings came in the same week that Mintel reported three million wrist-worn wearable devices such as fitness bands and smartwatches were estimated to have been sold in the UK in 2015. This marked a 118 per cent increase on unit sales in 2014, which reached 1.4 million.

Although smartwatches increased their market share in the UK as predicted, it was the fitness band which was the most bought wearable device last year, out-stripping sales of smartwatches by almost two to one.

“While fitness bands are, on average, less expensive than other wearables and have been on the market for relatively longer, higher adoption rates are also a reflection of the fact that wrist-worn devices offer a compelling practical benefit to active users,” said Sara Ballaben, Technology Analyst at Mintel.

“Fitness bands monitor and help to improve their performance while eliminating the need to carry around bulkier devices while training. While important product launches have and will certainly continue to accelerate consumer demand for smartwatches, the expected popularity of smartwatches in the short term is also the result of continued growth of the phablet market, which creates more compelling use cases for wrist-worn watches.”



Connect with
Leisure Management
Magazine:
View issue contents
Sign up:
Instant Alerts/zines

Print edition
 

News headlines
Wellness real estate market booming – forecast to reach $913bn by 2028, reports GWI
Wellness real estate market booming – forecast to reach $913bn by 2028, reports GWI   17 May 2024

The Global Wellness Institute (GWI) has released promising new research on the wellness real estate market at its third-annual Wellness Real Estate & .... more>>
Banyan Group appoints Paul Hawco to spearhead wellness strategy
Banyan Group appoints Paul Hawco to spearhead wellness strategy   14 May 2024

Paul Hawco, a seasoned figure in the international wellness industry, has assumed the role of executive director – integrated wellbeing at .... more>>
Snap Fitness' holding company – Lift Brands – is up for sale
Snap Fitness' holding company – Lift Brands – is up for sale   13 May 2024

Speaking to HCM, global CEO of Lift Brands, Ty Menzies, has confirmed that the company – owner of Snap Fitness and Fitness On Demand – is up .... more>>
Planet Fitness increases price of basic membership for first time in over 20 years
Planet Fitness increases price of basic membership for first time in over 20 years   12 May 2024

Planet Fitness has announced the repurchase of 314,000 shares at a rate of US$20 million. The Class A common stocks were repurchased and retired, .... more>>
Xponential dumps Geisler as company faces investigation by US Attorney’s Office
Xponential dumps Geisler as company faces investigation by US Attorney’s Office   11 May 2024

Xponential Fitness today indefinitely suspended founder and CEO, Anthony Geisler, saying it had been notified on 7 May that the company is facing a .... more>>
Ritz-Carlton Reynolds, Lake Oconee, unveils new-look lakeside destination spa
Ritz-Carlton Reynolds, Lake Oconee, unveils new-look lakeside destination spa   10 May 2024

The Ritz-Carlton Reynolds, Lake Oconee in the southeastern US state of Georgia is celebrating a new milestone after unveiling its newly renovated .... more>>
Company profile


Cellcosmet

Roland C. Pfister founded Cellcosmet and developed the skincare line to prolong the therapy's benefits at home. His breakthrough innovation CellControl™ method preserves the skin-revitalising power of cellular extracts

View full profile>>

Catalogue gallery


Featured Supplier

Red Raion expands global presence with new Riyadh office

Red Raion expands global presence with new Riyadh office

Red Raion, the CGI studio for media-based attractions, has announced the opening of its new office in Riyadh, Saudi Arabia. More>>




in this issue

• Virgin gets right to wipe out rent arrears
• Fitness industry mourns passing of Jan Spaticchia
• STA offers mindfulness resources



Latest jobs

Jobs Search



Fitness Instructor
Salary: £23,144 to £25,138pa
Location: Moulsecoomb, Brighton and Hove, Brighton, UK
Company: University of Brighton
Duty Manager
Salary: Competitive
Location: Clevedon
Company: Everyone Active
Swim Teacher
Salary: Competitive
Location: Bristol
Company: Everyone Active
Diary dates
Powered by leisurediary.com

18-22 May 2024

Eco Resort Network

The Ravenala Attitude Hotel, Mauritius







Published by Leisure Media Tel: +44 (0)1462 431385 | Contact us | About us | © Cybertrek Ltd