SOURCE: iGR

iGR

November 06, 2013 06:00 ET

New iGR Study Forecasts the Sales of Fitness and Healthcare Tracking Devices to Grow at a CAGR of 48 Percent Over the Next Five Years

Mobile Wearable Devices, Including Fitness-Health Devices and Smartwatches, Will Be the Next High-Growth Market as the U.S. Smartphone Market Growth Slows

AUSTIN, TX--(Marketwired - Nov 6, 2013) - Serious athletes and casual exercisers have been wearing sports watches for years to track elapsed time and number of laps. Today, fitness tracking devices, which are synchronized to mobile apps on the wearers' smartphones, provide even more valuable and easily accessible information.

The new generation of fitness and health tracking devices gather the wearer's physical data, which can then be displayed and analyzed using applications on a smartphone. These devices can track the number of steps taken throughout the day, monitor heart rate and perspiration, track calories burned, and even monitor sleep patterns. Many of the devices are meant to be worn 24 hours a day, so that the user can see his habits and progress over long periods of time.

Over the five-year period between 2012 and 2017, fitness and healthcare device sales in the U.S. are expected to grow at a CAGR of 48.5 percent. These devices are part of a new category of mobile wearable devices, which also includes smartwatches and smart glasses.

"iGR expects that the mobile wearable device market in the U.S. will grow significantly, as the smartphone market matures and slows," said Iain Gillott, president and founder of iGR, a market research consultancy focused on the wireless and mobile industry. "Specifically, the fitness and health tracking devices are valuable to many U.S. consumers, who state that they use them because 'it is fun' and they want to be healthier, lose weight, and improve their fitness."

iGR's new market research report, U.S. Mobile Wearable Devices Forecast, 2012 - 2017, defines three groups of wearable devices: fitness and health tracking devices, smartwatches, and smart glasses. It provides results from iGR's latest survey of U.S. consumers, which quantified consumers' familiarity with, interest in, and current use of these devices. The report includes a five-year forecast for the sales of both fitness and health tracking devices and smartwatches. Finally, it includes profiles of dozens of companies that provide products in these developing markets. 

The following key questions are addressed in the new research study:

  • What types of wearable devices are currently being used?
  • What percentage of U.S. consumers are currently using heart monitors, pedometers, fitness and exercise trackers and smartwatches?
  • What percentage of U.S. consumers are currently using fitness-related smartphone apps? Why do they use these apps and how much did they spend on the app?
  • What types of activities are U.S. consumers interested in monitoring?
  • What percentage of U.S. consumers are interested in purchasing a fitness and health tracking device and what features would they require in such a device?
  • How much are consumers willing to spend on fitness and health tracking devices and how does that price compare to the current average sales price?
  • How interested are consumers in smartwatches and what are their concerns? 
  • How interested are Apple and Android users in a smartwatch developed by Apple or Samsung?
  • How interested are consumers in Google Glass and what are their concerns? 
  • What is the five-year forecast for fitness and healthcare devices and smartwatches?
  • Which companies are currently providing fitness and healthcare tracking devices, smartwatches and smart glasses?
  • What demographic trends are apparent in U.S. consumers' use of and interest in wearable devices?

The information in this report will be valuable for:

  • Developers of mobile apps
  • Mobile device OEMs
  • Wearable device OEMs
  • Mobile service providers
  • Semiconductor manufacturers
  • Financial and investment analysts.

The new report can be purchased and downloaded directly from iGR's website at www.iGR-inc.comAlternatively, contact Iain Gillott at (512) 263-5682 or at Iain@iGR-inc.com for additional details.

About iGR
iGR is a market strategy consultancy focused on the wireless and mobile communications industry. Founded by Iain Gillott, one of the wireless industry's leading analysts, in late 2000 as iGillottResearch, iGR is now entering its thirteenth year of operation. iGR continuously researches emerging and existent technologies, technology industries, and consumer markets. We use our detailed research to offer a range of services to help companies improve their position in the marketplace, clearly define their future direction, and ultimately improve their bottom line.

iGR researches a range of wireless and mobile products and technologies, including: smartphones; tablets; mobile applications; bandwidth demand and use; small cell architectures; DAS; LTE; VoLTE; IMS; NFC; GSM/GPRS/UMTS/HSPA; CDMA 1x/EV-DO; iDEN; SIP; macro-, pico- and femtocells; mobile backhaul; WiFi and WiFi offload; and SIM and UICC.

A more complete profile of the company can be found at www.igr-inc.com.

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