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Sports Wearables Market Share

Report ID: GMI10550
Published Date: Jul 2024
Report Format: PDF

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Sports Wearables Market Share

In the market, key players bolster their positions through a multifaceted approach. They prioritize innovation, infusing AI, machine learning, and cutting-edge sensors to elevate device functionality and precision. For instance, in April 2024, Samsung introduced the Galaxy Fit Pro, featuring advanced biometric sensors and AI-driven health insights. Collaborations with health app developers amplify their ecosystem, enriching the user experience.

For example, in April 2024, Polar partnered with Strava to integrate advanced fitness tracking features. Simultaneously, these firms emphasize marketing, aiming to stand out in a crowded market. They also delve into sustainability to align with evolving environmental norms. According to a 2024 report by the Environmental Protection Agency (EPA), companies adopting eco-friendly practices have seen a 15% increase in consumer trust. Augmenting these efforts are competitive pricing strategies and diversified product lines, tailored to a spectrum of fitness requirements and budgets.

Some of the other major players in the market are Xiaomi Corporation, Polar Electro Oy, Suunto, Under Armour, Inc., TomTom International B.V., WHOOP, Inc.

Sports Wearables Market Companies

Major players operating in the sports wearables industry are:

Apple Inc.
Garmin Ltd.
Fitbit, Inc.
Samsung Electronics Co., Ltd.
Huawei Technologies Co., Ltd.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The sports wearables industry was valued at USD 1.75 billion in 2023 and is anticipated to record a CAGR of over 15% between 2024 & 2032, owing to the surge in health and wellness awareness.

The smartwatches segment is expected to reach a value of over USD 1.8 billion by 2032, attributed to their affordability, simplicity, and efficacy in monitoring essential health metrics such as steps, calories, and sleep.

North America sports wearables market accounted for a share of over 33% in 2023 and will continue growing through 2032, propelled by a health-conscious consumer base and a robust technological framework.

Apple Inc., Garmin Ltd., Fitbit, Inc., Samsung Electronics Co., Ltd., and Huawei Technologies Co., Ltd.