London, UK (PRWEB) September 29, 2014
According to SensiAn Research's latest study the market for mHealth wellness / sports & fitness devices will be worth $2.4 billion in 2014 and grow at a CAGR of 8% to reach $3.8 billion in 2020. It represents a total opportunity of >$22.5 billion in the seven years from 2014 to 2020. This market includes many end device types, including heart rate monitors, connected weighing scales and smart sports clothing, but the major growth markets will be activity trackers and high end sports watches.
“Heart rate monitors and sports watches have been around for many years. However, more recently the range of devices that are emerging and the increasing amount of technology being used is drastically changing the market dynamics,” commented Peter Cooney, Principal Analyst & Director of SensiAn Research. "Activity monitors, smart sports watches, heart rate monitors and smart sports clothing are all becoming significant markets for device and technology vendors and the list of device types continues to grow."
SensiAn Research expects that the total market for mHealth wellness / sports & fitness devices will grow to almost 25 million units shipped per annum in 2014. Much of this growth has been driven by the emergence of activity tracker devices and consumer demand for these connected devices. Other devices (such as high end sports and fitness smart watches and heart rate monitors) are also seeing growth but not in the same volumes as activity trackers. Smart clothing is a category of devices that has long term potential, but it is not expected to reach annual shipments >1 million before 2017. It is expected that simple pedometers will continue to have a place in the market but shipments of these have been severely negatively affected as consumers increasingly choose activity trackers and smart watches with added functionality.
The mHealth Wellness/Sports & Fitness Device market is served by a wide range of suppliers, from well-established health and wellness/sports and fitness device vendors such as Polar, Garmin, Suunto, Omron and Beurer, to newer more focused vendors such as Fitbit and Jawbone, large multinational sports clothing suppliers such as Nike, and many smaller niche suppliers.
These are findings from SensiAn Research’s recently published study on “mHealth Wellness Wearable Devices: Activity Trackers, Sports Watches, Heart Rate Monitors, Smart Sports Clothing, Connected Weighing Scales and Other Consumer Wellness Devices.”
For further information, please contact:
Peter Cooney, Principal Analyst & Director, SensiAn Research http://www.sensianresearch.com
peter(at)sensianresearch(dot)com, +44 1392 580 960
Notes to Editors
SensiAn Research provides detailed quantitative and qualitative research on established and emerging markets and end applications for a range of semiconductor components and related products.
We cover vertical markets within the Internet of Things (IoT) and those technologies that make it happen including sensors, connectivity, micros and much more.