Global market revenue for sports, fitness and activity monitors will rise by 46 percent from 2013 through 2019, according to the latest projections from IHS Technology.
This growth represents a revenue expansion of nearly $1 billion, an anticipated development driven by “health-conscious consumers” in a rush to buy devices ranging from heart-rate monitors to running computers.
Worldwide OEM revenue from sales of sports, fitness and activity monitors is set to soar to $2.8 billion in 2019, up from $1.9 billion in 2013, according to the same report. This year alone, revenue will rise 22 percent to $2.2 billion.
The total installed base represented by the various monitors will expand to 120 million units in 2019, up from 84 in 2013.
“The market for traditional, dedicated sports, fitness and activity monitors will continues to thrive even amid the encroachment of smartphones and of multifunction wearable devices such as smart glasses,” said Shane Walker, senior manager for medical devices and healthcare IT research at IHS.
“There is continued demand for chest strap heart-rate monitors despite alternatives that make use of optical technologies, and sales of running computers with the global positioning system (GPS) are still climbing. Beyond consumer demand, sales of activity monitors will be stimulated over the long term by corporate wellness programs, and from healthcare providers who may use the devices as part of a prescription for their patients,” Walker adds.