Market Insights Digital Digital Health Digital Fitness & Well-Being

Fitness Trackers - Australia & Oceania

Australia & Oceania

The Fitness-Tracker market in Australia & Oceania is expected to witness a significant increase in revenue, reaching a projected value of US$689.70m in 2024.
This growth is anticipated to continue with an annual growth rate (CAGR 2024-2029) of 6.02%.
As a result, the market volume is projected to reach US$923.70m by 2029.
In terms of user penetration, it is estimated to be 13.56% in 2024 and is expected to increase to 19.72% by 2029.
This indicates a growing adoption of fitness trackers among the population in the region.
The average revenue per user (ARPU) is predicted to be US$117.10, indicating the amount of revenue generated per individual using fitness trackers in Australia & Oceania.
In comparison to other countries, United States is expected to generate the highest revenue in the Fitness-Tracker market, with a projected value of US$10,990.00m in 2024.
This highlights the dominance of the Chinese market in terms of revenue generation.
Australia & Oceania is witnessing a growing demand for fitness trackers, as health-conscious individuals prioritize tracking their physical activity and monitoring their overall wellness.

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

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Analyst Opinion

The Fitness Trackers market in Australia & Oceania is experiencing significant growth and development, driven by various factors shaping consumer behavior and market dynamics in the region.

Customer preferences: Consumers in Australia & Oceania are increasingly prioritizing their health and well-being, leading to a growing demand for digital fitness and well-being solutions such as fitness trackers. The convenience of tracking fitness goals, monitoring health metrics, and accessing personalized workout plans through these devices resonates well with the health-conscious population in the region.

Trends in the market: In Australia, there is a noticeable trend towards integrating online doctor consultation services with fitness trackers, allowing users to receive personalized health recommendations based on their activity levels and biometric data. This convergence of digital health services is driving innovation and enhancing the overall user experience in the market.

Local special circumstances: Australia & Oceania's unique geographical landscape, characterized by vast distances and remote areas, has contributed to the rising popularity of digital treatment and care services through fitness trackers. These devices enable individuals in rural or isolated regions to access healthcare resources and professional medical advice conveniently, bridging the gap between patients and healthcare providers.

Underlying macroeconomic factors: The increasing adoption of fitness trackers in Australia & Oceania is also influenced by favorable macroeconomic conditions, including rising disposable incomes, technological advancements, and a growing focus on preventive healthcare. As the region continues to prioritize health and wellness, the Fitness Trackers market is expected to expand further, offering innovative solutions to meet the evolving needs of consumers.

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.