Major Trends in the Wearable Fitness Technology Market

The wearable fitness technology market was worth USD 5.77 billion in 2016 and USD 12.44 billion by 2022, growing at a CAGR of 13.7% from 2016 to 2022. The market is likely to witness rapid growth in the coming years driven by consumer preference for sophisticated gadgets, increasing popularity of wearable fitness and medical devices, growing popularity of the Internet of things, increasing awareness about fitness and rise in disposable incomes in developing economies.

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Major trends in the wearable fitness technology market include smartphone applications (apps) and advanced data analysis, advanced sensors, integration and implantation of technology with and in the human body, and specific-purpose wearables. Companies are developing advanced apps with advanced data analysis features. Companies may charge monthly subscription fees for premium data analysis and reports. Also, they are focused on developing advanced sensors that track not only accurate metrics but also qualitative attributes such as stress level and athletic performance. In the future, wearable fitness technology would make a way to the development of implanted technology which will have complete integration and implantation with and in a human body.

Fitness technology has evolved significantly with the advent of wearable technology products such as smartwatches and wristbands. Wearable fitness technology has gone beyond just smartwatches and wristbands with new products such as smart shoes, smart apparels, headbands and more. This growth is largely driven by the popularity of wristwears such as wristbands and smartwatches.

Smartwatch, wristband, and smart shirts/jackets to drive market growth

Smartwatch

Smartwatches and other wrist wearable computing devices have been around for quite some time. Often, the market has anticipated the launch of smart watches and wrist wearable devices which are sophisticated and sleek, but they have mostly gone in vain. Of all the gadgets that have ever failed to take off, smart watches are among the most unsuccessful ones. Microsoft Corporation’s (U.S.) SPOT watches and Fossil Inc.’s (U.S.) Palm OS-based Wrist Personal Digital Assistant (PDA) are some of the examples which failed to capture a large market size. However, in the last few years, their market has improved and companies such as Apple Inc. (U.S.) and Samsung Electronics Co., Ltd. (South Korea) have come up with successful introductions of such devices. Wearable computing devices run on a modified version of the Android operating system with a 667-MHz CPU and up to 32GB of storage. It also has other specifications such as GPS, Bluetooth, Wi-Fi, accelerometer, activity tracker, and magnetometer. The device comes preloaded with several apps, and additional apps can also be downloaded from the micro app store or loaded over USB.

Wristband (Smart Bracelet)

Smart wrist bands or bracelets not only enhance the aesthetic sense but are also used as fitness devices, monitoring the wearer’s heart rate and other metrics. A number of smart wristbands have hit the market in recent years such as Nike FuelBand, Jawbone’s UP, Fitbit’s Flex among others. Wristbands measure time, heart rate, calories, and steps with the help of an accelerometer to measure movement. Some of the wristbands use galvanic skin response (GSR) sensors to measure the body temperature and the amount of heat that has dissipated from the body to determine the amount of energy used. In August 2014, the U.S. Patent and Trademark Office (USPTO) granted 58 new patents to Apple, Inc. (U.S.) for a wireless communication technology that could be used with medical wristbands. This patent is for the invention that has the ability to collect and use microwave energy gathered through an antenna, while also wirelessly communicating with other devices such as smartphones and tablets.

Smart shirts/jackets

Fabrics and clothes are being transformed into wearable technology products because of the advancements in the field of textiles and electronics. Smart textiles with embedded electronics have already hit the market for display-embedded shirts and gowns. E-textile, with electronics in textile itself, is being commercialized. Many events showcasing fashion and electronics such as the 6th International Conference on the Future Technical Textile, 2014 hosted at Istanbul, Turkey, and the Smart Textiles, and Fashion Track, 2015 held at London, U.K. have shown promising developments. Such events help promote the emerging trend of techno-fashion clothing that gets an electrifying makeover; the clothing that brings electronics closer to skin.