Market Insights Digital Digital Health Digital Fitness & Well-Being

Fitness Trackers - New Zealand

New Zealand

The Fitness-Tracker market in New Zealand is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is set to reach US$102.20m in 2024.
This indicates a promising outlook for the industry.
Furthermore, the market is expected to display a steady annual growth rate (CAGR 2024-2029) of 5.96%.
As a result, the projected market volume is estimated to reach US$136.50m by 2029.
This growth is indicative of the increasing demand for Fitness-Tracker market in New Zealand.
In terms of user penetration, it is anticipated to be 16.63% in 2024 and is expected to rise to 23.78% by 2029.
This suggests that a higher proportion of the population will be utilizing Fitness-Tracker market in the coming years.
The average revenue per user (ARPU) is projected to amount to US$116.60.
This metric provides insights into the average amount of revenue generated per user in the Fitness-Tracker market.
When comparing in New Zealand to other countries globally, it is worth noting that United States is expected to generate the highest revenue in this market.
In 2024, United States's revenue is projected to reach a staggering US$10,990.00m, highlighting its dominance in the industry.
Overall, the Fitness-Tracker market in New Zealand is poised for growth, with increasing revenue, user penetration, and a positive outlook for the future.
New Zealanders are increasingly embracing fitness trackers, with a growing demand for wearable technology to monitor and improve their health and fitness levels.

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

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Analyst Opinion

The Fitness Trackers market in New Zealand is experiencing significant growth and evolution, driven by changing consumer preferences and technological advancements.

Customer preferences: Consumers in New Zealand are increasingly prioritizing their health and well-being, leading to a growing demand for digital fitness and well-being solutions. With a strong focus on leading active lifestyles, New Zealanders are turning to fitness trackers to monitor their physical activity, set health goals, and track their progress. The convenience and accessibility of online doctor consultations and digital treatment options are also appealing to consumers looking for efficient and personalized healthcare services.

Trends in the market: One noticeable trend in the Fitness Trackers market in New Zealand is the integration of advanced features in wearable devices. Fitness trackers are no longer limited to counting steps and monitoring heart rate; they now offer a wide range of functions such as sleep tracking, stress management, and even ECG monitoring. This trend towards multifunctional devices is driven by the desire for comprehensive health monitoring and management tools.

Local special circumstances: New Zealand's unique geographical landscape and outdoor-oriented lifestyle contribute to the popularity of fitness trackers in the country. With abundant opportunities for outdoor activities such as hiking, cycling, and water sports, New Zealanders rely on fitness trackers to stay active and monitor their performance. Additionally, the country's remote areas and scattered population make online doctor consultations and digital healthcare services particularly valuable for those living in rural or isolated regions.

Underlying macroeconomic factors: The growing adoption of fitness trackers, online doctor consultations, and digital treatment solutions in New Zealand is also influenced by macroeconomic factors such as increasing healthcare expenditure, technological infrastructure development, and changing regulatory frameworks. As the government and private sector continue to invest in digital health initiatives, the Fitness Trackers market is poised to expand further, offering innovative solutions to meet the evolving needs of consumers in New Zealand.

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.