Fitness Trackers - Morocco

Morocco

Highlights

The Fitness-Tracker market in Morocco is projected to reach a revenue of US$68.56m in 2024.
This is expected to show an annual growth rate (CAGR 2024-2029) of 6.68%, resulting in a projected market volume of US$94.74m by 2029.
In terms of user penetration, it is expected to be 7.56% in 2024 and is projected to increase to 10.11% by 2029.
The average revenue per user (ARPU) is expected to be US$23.73.
In comparison to other countries, United States is forecasted to generate the highest revenue of US$10.99bn in 2024.
With the growing interest in fitness and wellness among young urbanites in Morocco, the demand for fitness trackers has seen a significant rise in the market.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Fitness Trackers market in Morocco is witnessing a significant growth trajectory driven by increasing awareness of health and fitness among the population.

Customer preferences: Moroccan consumers are increasingly gravitating towards digital fitness and well-being solutions, including fitness trackers, online doctor consultations, and digital treatment and care services. The convenience and accessibility offered by these digital solutions are appealing to individuals looking to monitor their health and well-being more closely.

Trends in the market: In Morocco, there is a growing trend towards adopting digital fitness trackers to track physical activity, monitor vital signs, and set health goals. This trend is in line with global patterns of prioritizing health and wellness, especially in the wake of the COVID-19 pandemic. The demand for online doctor consultations is also on the rise as consumers seek convenient and efficient healthcare services without the need for in-person visits. Additionally, the digital treatment and care segment is gaining traction as more Moroccans look for personalized and remote healthcare solutions.

Local special circumstances: Morocco's evolving healthcare landscape, with an increasing focus on digitalization and telemedicine, is creating a conducive environment for the growth of the Fitness Trackers market. The government's initiatives to promote digital health solutions and improve healthcare access across the country are further propelling the adoption of fitness trackers and other digital health services. Additionally, the rising smartphone penetration rate in Morocco is facilitating easy access to health and fitness apps, driving the demand for fitness trackers and related digital solutions.

Underlying macroeconomic factors: The growing middle-class population in Morocco, coupled with rising disposable incomes, is enabling more consumers to invest in health and wellness products and services, including fitness trackers. Moreover, the expanding urbanization and changing lifestyle patterns in the country are fueling the demand for convenient and tech-savvy healthcare solutions. As Morocco continues to prioritize healthcare modernization and digital transformation, the Fitness Trackers market is poised for further growth and innovation in the coming years.

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.