Market Insights Digital Digital Health Digital Fitness & Well-Being

Fitness Trackers - United Kingdom

United Kingdom

The Fitness-Tracker market in the United Kingdom is expected to reach a revenue of €1,372.00m by 2024.
It is projected to experience a steady annual growth rate (CAGR 2024-2029) of 7.99%, resulting in a market volume of €2,015.00m by 2029.
The user penetration rate is anticipated to be 19.93% in 2024 and is forecasted to increase to 29.68% by 2029.
The average revenue per user (ARPU) is expected to be €101.30.
In comparison to other countries, United States is projected to generate the highest revenue in the Fitness-Tracker market, amounting to €10,190.00m in 2024.
The United Kingdom is experiencing a surge in demand for fitness trackers, driven by a growing health-conscious population.

Key regions: Canada, Asia, United Kingdom, Italy, Japan

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Analyst Opinion

The Fitness Trackers market in United Kingdom has been experiencing significant growth and development in recent years.

Customer preferences: Consumers in the United Kingdom are increasingly prioritizing their health and well-being, leading to a growing demand for digital fitness and well-being solutions. Fitness trackers offer individuals the ability to monitor their physical activity, track their progress, and set personalized fitness goals, aligning with the trend towards a more health-conscious lifestyle.

Trends in the market: One prominent trend in the Fitness Trackers market in the United Kingdom is the integration of online doctor consultation services within fitness tracker platforms. This convergence of health monitoring and telemedicine allows users to not only track their fitness levels but also consult healthcare professionals remotely, enhancing the overall user experience and providing a holistic approach to well-being.

Local special circumstances: The National Health Service (NHS) in the United Kingdom plays a significant role in shaping the Fitness Trackers market. As the NHS continues to promote digital health initiatives and remote monitoring solutions, there is a greater acceptance and adoption of fitness trackers as tools for proactive health management among the population. This unique healthcare landscape creates a conducive environment for the growth of digital health technologies within the country.

Underlying macroeconomic factors: The increasing penetration of smartphones and wearable devices in the United Kingdom has contributed to the proliferation of fitness trackers among consumers. With a tech-savvy population and high digital connectivity, the market is primed for further expansion as individuals seek convenient and accessible ways to monitor their health and fitness levels. Additionally, the rising awareness of preventive healthcare measures and the shift towards personalized wellness solutions are driving the demand for fitness trackers in the country.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenues and user data of relevant mobile applications and consumer electronics companies.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, internet penetration, smartphone penetration, consumer spending, and healthcare spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.