U.S. Fitness Tracker Market Size, Share & COVID-19 Impact Analysis, By Device Type (Smart Watches, Fitness Bands, Smart Glasses, Smart Clothing, and Others), By Application (Heart Rate Tracking, Sleep Measurement, Glucose Measurement, Sports, Running, and Cycling Tracking), By Distribution Channel (Online, Retail, and Others), and Country Forecast, 2023-2030

The U.S. fitness tracker market size was worth USD 13.69 billion in 2022 and is projected to grow at a CAGR of 18.9% during the forecast period. 

A fitness tracker is a wearable electronic device that uses sensors to track fitness metrics and physical activities such as orientation, movement, and rotation. It collects data and offers solutions related to heart rate, calorie consumption, sleep patterns, and more. The prevalence of chronic diseases such as diabetes, cancer, and cardiovascular diseases is increasing among the U.S. population. According to the National Institute of Health statistics from February 2022, about 795,000 people in the U.S. suffer from a stroke each year, with approximately 137,000 deaths reported due to strokes.

As a result of this high prevalence, there's a rising demand for fitness devices to monitor health and promote healthy lifestyles nationwide. Additionally, numerous industry players are now focusing on introducing advanced devices such as smartwatches and fitness trackers to reduce the risk of chronic disorders among the population, thereby further propelling the growth of the U.S. market.

The COVID-19 pandemic had a positive impact on the market in 2020. The growth was due to increased demand for fitness monitoring devices like smartwatches, which helped monitor health and prevent the risk of chronic diseases among the U.S. population.

LATEST TRENDS

Rise in Integration of Fitness Trackers with Advanced Devices

The increasing focus of key players on introducing fitness trackers that can integrate with devices such as smartphones, tablets, and smartwatches enhances the accuracy and utility of these devices among the population.

• In August 2021, Google announced its new health and fitness tracker, the Fitbit Charge 5, with integration into any smartphone in use.

Such technological advancements with rising new applications such as ECG monitoring and heart rate monitoring have increased their adoption across the country.

DRIVING FACTORS

High Adoption of Fitness Monitoring Devices to Fuel Market Growth

The wearable devices offer extensive applications for monitoring the body's health metrics and routine activities. Thus, the adoption of wearable devices among the young and athletic population for several applications, such as monitoring sleep, oxygen, and regulating routine activities and exercises, is rising in the U.S., further boosting market growth.

• As per data published by AnalyticsIQ, Inc., in June 2023, the U.S. consumers doubled their use of wearable healthcare devices, including smartwatches, wearable monitors, and fitness trackers, between 2020 and 2021.

Moreover, the major players are now focusing on introducing advanced and low-cost devices across the country, such as fitness bands and eyeglasses. These elements will further augment the adoption of fitness devices, further driving the U.S. fitness tracker market growth during 2023-2030.

RESTRAINING FACTORS

Potential Inaccuracies Associated with the Fitness Tracker May Hamper Market Growth 

Several drawbacks, such as inaccurate results of body metrics, sleep quality, and energy consumption, are influencing the demand for these trackers.

• According to an article published by WeLoveCycling in April 2022, the results stated by fitness tracker that estimate calorie burns are based on laboratory averages, which cause large margins of error ranging from 10% to 23%.

Moreover, these factors, coupled with a lack of stringent security controls and limited health data security of the users, may threaten the demand for these devices, further restraining the growth of the U.S. market.

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The total population using wearable devices in the U.S. was 24.5% in 2022, higher than other developed nations such as Australia (20%), Canada (14%), and the U.K. (22%).

SEGMENTATION

By Device Type Analysis

Based on device type, the market is divided into fitness bands, smartwatches, smart clothing, smart glasses, and others.

The smartwatches segment held the largest share in 2022 owing to the increasing inclination of consumers toward wearable devices with cutting-edge smart features for health & physical activity monitoring and fitness tracking.

• According to data published by Apple Inc. in its annual report in 2021, the net sales of its wearable segment increased by 25.0% in 2021, owing to higher net sales of Apple smartwatches, as compared to 2020.

By Application Analysis

Based on application, the market is segmented into sports, cycling tracking, heart rate tracking, running, sleep measurement, and glucose measurement.

The running segment held the largest share in 2022, owing to the high utilization of these devices among athletes for routine monitoring of their running activities and the rising emphasis of leading players on launching products with running applications and advanced integrated technologies.

• In June 2023, Amazfit launched a new cheetah series smartwatches, specifically designed for runners, with industry-leading GPS technology & AI coaching.

By Distribution Channel Analysis

On the basis of distribution channel, the market is segmented into online, retail, and others.

The others segment held the largest market share in 2022. The largest share was attributed to the rising presence of fitness devices across government health channels, such as marine and aviation industries across the U.S.

The online channel segment is expected to experience the highest CAGR during the forecast period, driven by the widespread availability of fitness trackers on online platforms nationwide and increased awareness of e-commerce channels, thereby boosting sales through online distribution channels in the market.

• According to an article published by aBlogtoWatch in April 2021, buying smartwatches through online channels can be economical and provide international shipping across the globe.

KEY INDUSTRY PLAYERS

Innovative Product Launches by Key Players across the Nation to Augment Market Growth

In terms of the competitive landscape, the U.S. market includes the presence of established and emerging players with extensive product offerings. Apple Inc. held a dominant share in the U.S. market in 2022 due to the company's strong sales performances across the country, coupled with greater emphasis on the adoption of digital tools by the company.

• As per data published by Apple Inc., in February 2022, Apple Watch accounted for 34.1% of all smartwatch shipments from the U.S. in 2022.

Some of the other companies with a considerable presence in the U.S. market include Garmin Ltd., Fitbit Inc., and Google Inc. The rising strategic initiatives by key players to introduce technologically advanced compact devices for several applications will propel the U.S. fitness tracker market share.

• In May 2023, Garmin Ltd. announced the launch of the epix Pro Series, a next-gen high-performance GPS smartwatch with an AMOLED display, rugged design, and high battery life.

LIST OF KEY COMPANIES PROFILED:

• Garmin Ltd. (U.S.)


• Apple Inc. (U.S.)


• Fitbit, Inc. (U.S.)


• Pebble Technology Corp (U.S.)


• Samsung Electronics Co Ltd (South Korea)


• Google Inc. (U.S.)


• Xiaomi Technology Co., Ltd. (China)


• Jawbone (U.S.)


• Nike (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• March 2023: – Xiaomi announced its brand new augmented reality (AR) glasses with the introduction of the Xiaomi Wireless AR Glass Discovery Edition at Mobile World Congress 2023 (MWC 2023).


• June 2022: Zepp Health Corporation, Ltd., expanded its BIP U series smartwatch lineup with the Amazfit BIP 3 series and Bip 3 Pro smartwatch launch in the U.S.


• June 2020 – Xiaomi announced mi smart band 5, the latest iteration of its wearable technology series. Mi Smart Band 5 offers other unique health-tracking functions. The company aims at innovation and quality and continuously pursues high-quality user experience and operational efficiency.

REPORT COVERAGE

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The U.S. fitness tracker market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading product applications. Besides this, the report offers insights into the U.S. fitness tracker market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses major factors that have contributed to the market growth in recent years.

Report Scope & Segmentation