According to the new market research report by MarketsandMarkets, wearable fitness technology market is expected to reach $12.44 billion by 2022. Consumer interest for sophisticated gadgets, increasing popularity of wearable fitness and medical devices, increasing awareness about fitness and rise in disposable incomes are the main factors behind the growth of the market.
Smartwatches tops the chart of the total wearable fitness technology market as apart from tracking fitness it also performs other functions like text messaging, phone calls, social media and music.
In terms of value and volume, the Americans accounted for the largest share of the wearable fitness technology market in 2015. Technological innovations and advancements, increasing demand from consumers and medical applications, increasing health consciousness and ease of use are a few factors that paced the growth of wearable fitness technology in the Americans
The major contributors of this market are companies like FitBit Inc, Jawbone Inc, Pebble Technology Corp and a lot more. The latest development in the wearable fitness technology market is the Apple Watch launched by Apple Inc.