Global Smart Band Market to Reach 61.1 Million Units by 2028, Catalyzed by Increasing Health Consciousness

May 26, 2023 | Technology & Media

According to the latest report by IMARC Group, titled “Smart Band Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global smart band market size reached 48.5 Million Units in 2022. A smart band refers to a wearable electronic device that collects and analyzes data related to an individual’s health and fitness activities. It is comprised of several components, such as a display screen, battery, processor, memory chip, wireless connectivity, navigation system, and various sensors, including accelerometers, gyroscopes, and heart rate monitors. Smart bands are widely used to track calorie intake, heartbeat, sleep cycle, blood pressure, steps, and distance covered while jogging or running. It provides accurate measurements of the body’s vitals, which aids in analyzing fitness progress, setting health goals, optimizing performance, and improving overall well-being. Smart bands also encourage individuals to stay active, avoid sedentary behavior, improve posture, and maintain a healthy lifestyle.

Smart Band Market Trends:

The increasing health consciousness among the masses is one of the primary factors propelling the market growth. A smart band is a lightweight and highly convenient product that provides real-time monitoring of the body’s vital signs, which aids users in tracking their fitness progress, setting new goals, optimizing workout routines, and improving overall health. Along with this, the rising product utilization while participating in sports and allied activities is contributing to the market growth. Furthermore, the growing product demand to provide valuable insights on daily activity levels, analyze health data, and assist users in taking proactive measures, owing to the increasing prevalence of chronic conditions, such as cancer, diabetes, hypertension, obesity, and cardiovascular diseases (CVDs), is favoring the market growth. Additionally, the incorporation of advanced health monitoring features, such as blood oxygen saturation (SpO2), stress tracking, and menstrual cycle tracking, which provides a more comprehensive health insight and enables users to manage fitness more effectively, is catalyzing the market growth. Besides this, the integration of voice assistance capability, which allows users to interact with smart bands using voice commands, thus enhancing convenience and improving accessibility, is positively influencing the market growth. Moreover, aggressive promotional and branding activities by manufacturers through social media, television (TV) commercials, celebrity endorsements, and influencer marketing are supporting market growth. Other factors, including the rising geriatric population, the increasing expenditure capacities of consumers, and easy product availability across various e-commerce platforms, are anticipated to drive the market growth. On account of the aforementioned factors, the market is expected to reach 61.1 Million Units by 2028, exhibiting a CAGR of 4.1% during 2023-2028.

Market Summary:

  • On the basis of the product type, the market has been bifurcated into with screen and without screen. Among these, with screen represents the largest segment.
  • Based on the operating system, the market has been classified into Android, Windows, iOS, and others. At present, Android accounts for the largest market share.
  • On the basis of the distribution channel, the market has been divided into specialist retailers, company outlets, online, and others. Among these, specialist retailers represent the largest segment.
  • On a regional basis, the market has been categorized into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. At present, North America holds the largest market share for smart band.
  • The competitive landscape of the industry has also been examined, with some of the key players being Fitbit, Garmin, Jawbone, Samsung Electronics, Apple, Xiaomi, Lenovo, LG, Nike, Razer, and Sony, etc.

Report Scope:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units Million Units, US$ Million
Segment Coverage Product Type, Operating System, Distribution Channel, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered Fitbit, Garmin, Jawbone, Samsung Electronics, Apple, Xiaomi, Lenovo, LG, Nike, Razer and Sony
Customization Scope 10% Free Customization
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Global Smart Band Market to Reach 61.1 Million Units by 2028, Catalyzed by Increasing Health Consciousness
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