Fitness Trackers - Croatia

Croatia

Highlights

The Fitness-Tracker market in Croatia is projected to generate a revenue of US$30.84m in 2024.
This market is expected to witness an annual growth rate (CAGR 2024-2029) of 6.91%, resulting in a projected market volume of US$43.07m by 2029.
The user penetration rate is anticipated to be 12.63% in 2024 and is expected to increase to 18.89% by 2029.
The average revenue per user (ARPU) is projected to be US$61.25.
In comparison to other countries, United States is expected to generate the highest revenue in the Fitness-Tracker market, reaching US$10.99bn in 2024.
Croatia's growing interest in fitness and wellness has led to a surge in demand for fitness trackers in the digital health market.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Fitness Trackers market in Croatia has shown significant growth in recent years, with a surge in demand for digital fitness and well-being solutions, online doctor consultations, and digital treatment and care options.

Customer preferences: Consumers in Croatia are increasingly looking for convenient and personalized healthcare solutions, driving the demand for digital fitness trackers that can monitor their health and fitness goals. The ease of access to online doctor consultations and digital treatment options is also appealing to customers who value efficiency and flexibility in managing their healthcare needs.

Trends in the market: One notable trend in the Croatian market is the adoption of digital fitness trackers by a younger demographic who are tech-savvy and health-conscious. These consumers are drawn to the features offered by fitness trackers, such as activity tracking, heart rate monitoring, and sleep tracking. Additionally, the growing awareness of the importance of preventive healthcare is fueling the demand for online doctor consultations and digital treatment services in the country.

Local special circumstances: Croatia's healthcare system is experiencing a digital transformation, with the government investing in e-health initiatives to improve access to healthcare services for its citizens. This push towards digitalization has created a favorable environment for the growth of the Fitness Trackers market in the country, as more Croatians embrace technology-driven solutions for their healthcare needs.

Underlying macroeconomic factors: The increasing disposable income levels in Croatia have allowed consumers to spend more on health and wellness products, including digital fitness trackers. Additionally, the rising healthcare costs and the need for more efficient healthcare services have encouraged individuals to turn to digital solutions that offer convenience and cost-effectiveness. These macroeconomic factors are contributing to the expansion of the Fitness Trackers market in Croatia.

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.