Mobile Sports and Fitness Ecosystems Market Overview
The 21st century can truly be considered as the mobile Internet era. We all have several interconnected portable devices like laptops, smartphones, smart watches, and fitness trackers. Along with the push towards smaller and lighter gadgets, there has also been a trend towards leading a fitter lifestyle, both from the company as well as the customer’s side. A sedentary routine has given host to a number of health issues for people like obesity, high blood pressure, anxiety and even heart attacks. That is why there has been a marked increase in the mobile sports and fitness ecosystems market. These devices provide an easy way to monitor your daily activity level (or lack of it) and also measure several important things like your vital signs, step count or quality of sleep. They can be used as standalone devices or can also work in tandem with a smartphone. The global mobile sports and fitness ecosystems market is already worth billions of dollars and is anticipated to become even larger going forward.
Mobile Sports and Fitness Ecosystems Market Drivers
The mobile sports and fitness ecosystems market is mainly driven by the desire to lead a healthy lifestyle. Western countries are post-industrial societies with the majority working in the tertiary sector. A fast paced lifestyle coupled with the lack of time (or will) to exercise has led to several health issues like obesity, hypertension, and anxiety. Obesity in particular is a major issue in the U.S. which has one of the highest number of affected individuals. While mobile technology was prohibitively expensive a decade ago, low cost sensors, advancements in wireless tech and new kinds of materials used have made the prices of mobile and fitness devices reduce dramatically. This has also enabled manufacturers to target the fast growing Asia Pacific mobile sports and fitness ecosystem market. In addition to single purpose fitness trackers, manufacturers can also market smart watches as multi-function devices for a wide range of uses, increasing the overall size of the mobile sports and fitness ecosystem market.
Mobile Sports and Fitness Ecosystems Market Restraints
One of the biggest opportunities to sell mobile fitness devices can also become a potential threat to it – the smartphone. Most customers are unaware that their phones have almost all the same sensors as that of dedicated fitness trackers. If smartphones begin to be marketed as a lifestyle device, the dedicated mobile sports and fitness ecosystems market can face significant headwinds in the future. Another challenge could be a high price, especially in countries with a lower disposable income in Asia or Latin America. It can be quite challenging convincing customers to purchase an additional device to monitor their health when they don’t see the need for it or when their phones can serve the same purpose.
Mobile Sports and Fitness Ecosystems Market Key Regions
North America is the largest mobile sports and fitness ecosystem market, followed by the European Union. This is due to a sedentary lifestyle, aging population, and higher occurrence of obesity leading to various other issues like hypertension and diabetes. There is also a greater awareness of dedicated fitness trackers and smart mobile devices making it easy for manufacturers to sell their products. Asia Pacific is not a very big market for smart devices yet but is anticipated to grow very rapidly in the next decade or so. The main markets in Asia would be China, India, Hong Kong, Singapore, and South Korea as there would be greater awareness and acceptance of fitness devices in these countries. There are many diabetics in China and India and the latter has the dubious distinction of having the most diabetics of any country globally. This would also spur demand in the APAC mobile sports and fitness ecosystems market.
Mobile Sports and Fitness Ecosystems Market Key Market Players
Some of the key companies involved in the mobile sports and fitness ecosystems market include Apple Inc., Samsung Electronics, Fitbit, Pebble, Sony, LG, Lenovo, Motorola, Microsoft, Jawbone, Under Armour, Nike, Withings, Garmin and many others.
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Mobile sports and fitness ecosystem is flourishing with the surge in penetration of interconnected portable devices such as smart devices, fitness trackers, and smartwatches. The growing awareness regarding health and fitness is fueling the growth of the market. An increase in the prevalence of diseases such as hypertension and obesity owing to other sedentary and fast-paced lifestyles is inspiring the people to adopt mobile fitness applications to attain daily fitness goals. Advanced wireless technology along with low-cost sensors, has enabled the market players to develop cost-effective mobile solutions for fitness, providing a thrust to the market progress.
North America is projected to stay at the forefront in the market owing to the high prevalence rate of ailments such as diabetes and growth in the aging population. Asia Pacific is expected to grow at a rapid pace in the coming decade. Emerging economies such as South Korea, India, China, and Singapore are known to be the growing markets with high awareness and acceptance for these devices.
Manufacturers of mobile sports and fitness devices are developing multi-function smartwatches to enhance their product portfolio.
They are leveraging technological advancements to develop innovative and effective solutions. Prominent market players are Garmin, Motorola, Samsung Electronics, Sony, Apple Inc., Lenovo, and Nike.