Fitness Trackers - Saudi Arabia

Saudi Arabia

Highlights

The Fitness-Tracker market in Saudi Arabia is expected to generate a revenue of US$278.50m in 2024.
This market is projected to experience an annual growth rate (CAGR 2024-2029) of 6.44%, resulting in a market volume of US$380.50m by 2029.
The user penetration rate is estimated to be 12.48% in 2024 and is expected to increase to 15.54% by 2029.
The average revenue per user (ARPU) is projected to be US$59.56.
In terms of global comparison, United States is expected to generate the highest revenue in the Fitness-Tracker market, reaching US$10.99bn in 2024.
The fitness tracker market in Saudi Arabia is seeing a surge in demand due to the growing health consciousness among the population.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Fitness Trackers market in Saudi Arabia is experiencing a significant growth trajectory, driven by a combination of factors unique to the region.

Customer preferences: Customers in Saudi Arabia are increasingly prioritizing their health and well-being, leading to a growing demand for digital fitness and well-being solutions. The convenience and accessibility of fitness trackers are appealing to individuals looking to monitor their physical activity and overall health in real-time.

Trends in the market: One prominent trend in the Saudi Arabian market is the rising popularity of online doctor consultation services integrated into fitness tracker platforms. This trend reflects the growing interest in telemedicine and remote healthcare solutions, especially in light of the COVID-19 pandemic. Additionally, the market is witnessing a surge in demand for digital treatment and care features within fitness trackers, such as medication reminders and symptom tracking, as consumers seek comprehensive health management tools.

Local special circumstances: Saudi Arabia's Vision 2030 initiative, which aims to transform the country's economy and society, has placed a strong emphasis on healthcare innovation and digital transformation. As a result, the government's support for technological advancements in the healthcare sector is creating a conducive environment for the growth of the Fitness Trackers market. Furthermore, the country's young and tech-savvy population is driving the adoption of digital health solutions, including fitness trackers, as part of a broader trend towards digitalization.

Underlying macroeconomic factors: The increasing disposable income levels in Saudi Arabia are enabling more consumers to invest in personal health and fitness products, including digital fitness trackers. Moreover, the government's focus on promoting a healthy lifestyle among its citizens through various initiatives and campaigns is further fueling the demand for fitness-related technologies. Overall, the combination of favorable macroeconomic conditions, government support for healthcare innovation, and shifting consumer preferences towards digital health solutions is propelling the growth of the Fitness Trackers market in Saudi Arabia.

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.