Home > Consumer Goods & Services > Sports Equipment > Sport Equipment and Supplies > Sports Wearables Market

Sports Wearables Market Trends

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

Sports Wearables Market Trends

The trend of integrating sports wearables with broader health and wellness ecosystems is on the rise. This involves forging partnerships with healthcare providers, fitness apps, and wellness platforms, aiming to establish a comprehensive health management system. According to a report by the World Health Organization (WHO), the global adoption of digital health technologies, including wearables, has increased by 30% over the past two years.
 

Additionally, in September 2023, Apple introduced the Apple Watch Series 9, boasting a swifter chip for heightened performance and an extended battery life. The watch showcases advanced health monitoring features, a revamped display for enhanced clarity, and a strong emphasis on eco-friendly materials. Also, it promised deeper integration within Apple's wider product and service ecosystem. Through data synchronization across platforms, sports wearables provide users with a more holistic view of their health and fitness. This integration not only boosts the value of wearables but also promotes their adoption as pivotal elements in users' health and wellness strategies.
 

Artificial intelligence (AI) and machine learning are reshaping user interactions with sports wearables. By delving deeper into data, AI algorithms deliver personalized suggestions, predictive analytics, and performance insights. This not only boosts the wearables' functionality but also elevates user experiences, rendering the devices more valuable. For instance, according to a report by the International Data Corporation (IDC), the global market for AI in wearables is projected to grow significantly, driven by advancements in AI technology.
 

Sports wearables are no longer confined to traditional sports; they now cater to a broader spectrum, including activities such as yoga, swimming, and outdoor pursuits. Manufacturers are crafting devices with tailored sensors to suit these varied pursuits. For instance, in February 2024, Samsung introduced the Galaxy Fit3, which includes advanced features for tracking swimming and yoga sessions. This shift mirrors the evolving fitness preferences of consumers, who seek wearables capable of optimizing performance across a range of activities. As companies diversify their offerings, they not only reach new market segments but also bolster their customer reach.

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.

Sports Wearables Market Scope

Buy Now


Premium Report Details

  • Base Year: 2023
  • Companies covered: 25
  • Tables & Figures: 496
  • Countries covered: 21
  • Pages: 327
 Download Free Sample